Posted by:
Finance Clerk
(
)
Date: December 14, 2011 05:20PM
Business owner (dentist/bishop) makes $1,000,000 gross/500,000 net - church gets 50,000
Of the 500,000 business expenses, 6 employees get $50,000 =300,000 - church gets $30,000
(With taxes and tithing, the business owner only has $200,000 left)
Employees give kids allowance - 6 employees x 3 kids x $20 x 12 mos. = $7200 - church gets $720 in tithing.
Employees spend remaining 45,000 on living expenses because they have nothing left to save due to paying tithing = 270,000.
So far the church got $80,720 of the original business owners netincome. Now the other mormon owned businesses will collect on the left overs, then pay tithing on that. And the cyle continues until the church gets essentially 100% of all money moving around in Utah.
Based on 80,720/500,000 = 16%
$270,000 x 16% = $43,200
$43,200 x 16% = $6,912
$6,912 x 16% = $1,105
$1,105 x 16% = $177
$177 x 16% = $28
So now of that original the original business owner's $1,000,000 success, the church made $132,142 tax free without lifting a finger, and the business owner sacrficed and worked hard to end up made $20,000, after taxes and tithing, to support his family (and habits and golf game/habits).
OK - that was laborious...but I always wanted to see what happens to $1,000,000 in Utah.