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Video instructions and help with filling out and completing What Form 843 Businesses

Instructions and Help about What Form 843 Businesses

Republican presidential nominee Donald Trump has seen unprecedented support in the 2016 election. Many of his backers hope he'll run the United States like one of his many businesses. However, the idea of running the U.S. like a business raises questions. Should the U.S. be run like a business? On the surface, both businesses and governments should strive to be more efficient, accountable, and transparent. This is especially important considering widespread government inefficiency, which is suggested to cost taxpayers billions and even trillions. For example, between 6 and 12 billion dollars earmarked for reconstruction in Iraq was misappropriated and long unaccounted for, although some was later recovered. It might sound appealing to have someone with financial business experience in charge of spending. However, businesses and governments have fundamentally opposing goals. Businesses aim to maximize profit for shareholders, even if it means layoffs, inferior products, or bankruptcy. Trump has strategically filed for bankruptcy to extract maximum value out of his companies. On the other hand, governments are supposed to benefit and represent people first, and be sustainable or profitable second. Running a government like a business would prioritize shareholders over the taxpayers who are both shareholders and consumers. Balancing their needs becomes much more challenging. Businesses completely owned by workers are rare, and workers owning the means of production is a form of socialism. Furthermore, governments function as monopolies in many aspects; citizens cannot easily switch to a different government without leaving the country. This contributes to the inefficiency of government-run services like the DMV and the post office, as they lack the incentive to improve. Additionally, taxes are not the same as sales. Citizens are legally required to pay taxes and cannot easily boycott government services. In times of financial struggle, businesses often implement strict cost-cutting measures known as austerity. A similar...