The Obama Administration has underperformed even my low expectations for them in the area of job creation. They have added more Federal government workers (a net drain on the economy) and at the same time the US has lost over 4 million jobs since that man took office.
There is a simple solution to the job problems in the country. The Federal government can declare that any manufacturing facility that is built (or started in the carcass of a defunct factory) in the US employing 75 or 100 people or more (the exact number is not important) at an hourly wage of $20 per hour or more would be EXEMPT FROM ALL CORPORATE TAXES for the first 5-7 years of profit (that is, all profit derived from that facility). The Treasury would not lose money because none of these facilities exists now so ipso facto the government is not making money from them at present. The Treasury would GAIN money in the form of personal income taxes from 100 people who are employed. It would GAIN payroll taxes. Furthermore, 100 families in a community need to spend their money on groceries, restaurants, home repair, haircuts, HOUSES, and everything else, which means other businesses thrive and people in the service industry would get jobs.
Business leaders have said time and again that America is "almost competitive enough" to locate new manufacturing facilities and asked for incentives to start new plants, so the incentive would force them to put their money where their mouth is. Most importantly, America would be MAKING THINGS. These are things we can export for profit to address our trade deficit.
The government could even make the tax breaks renewable if the facility keeps adding 25 new net jobs every 2 years or so. The break in taxes pays for the workers, the workers pay personal taxes and the government revenue is offset by more taxes from the workers.
Is there some reason why no one suggests these sorts of things?
There is a simple solution to the job problems in the country. The Federal government can declare that any manufacturing facility that is built (or started in the carcass of a defunct factory) in the US employing 75 or 100 people or more (the exact number is not important) at an hourly wage of $20 per hour or more would be EXEMPT FROM ALL CORPORATE TAXES for the first 5-7 years of profit (that is, all profit derived from that facility). The Treasury would not lose money because none of these facilities exists now so ipso facto the government is not making money from them at present. The Treasury would GAIN money in the form of personal income taxes from 100 people who are employed. It would GAIN payroll taxes. Furthermore, 100 families in a community need to spend their money on groceries, restaurants, home repair, haircuts, HOUSES, and everything else, which means other businesses thrive and people in the service industry would get jobs.
Business leaders have said time and again that America is "almost competitive enough" to locate new manufacturing facilities and asked for incentives to start new plants, so the incentive would force them to put their money where their mouth is. Most importantly, America would be MAKING THINGS. These are things we can export for profit to address our trade deficit.
The government could even make the tax breaks renewable if the facility keeps adding 25 new net jobs every 2 years or so. The break in taxes pays for the workers, the workers pay personal taxes and the government revenue is offset by more taxes from the workers.
Is there some reason why no one suggests these sorts of things?
Political correctness is the pettiest form of casuistry.
ἡ δὲ κἀκ τριῶν τρυπημάτων ἐργαζομένη ἐνεκάλει τῇ φύσει, δυσφορουμένη, ὅτι δὴ μὴ καὶ τοὺς τιτθοὺς αὐτῇ εὐρύτερον ἢ νῦν εἰσι τρυπώη, ὅπως καὶ ἄλλην ἐνταῦθα μίξιν ἐπιτεχνᾶσθαι δυνατὴ εἴη. – Procopius
Ummaka qinnassa nīk!
*MySmiley*
ἡ δὲ κἀκ τριῶν τρυπημάτων ἐργαζομένη ἐνεκάλει τῇ φύσει, δυσφορουμένη, ὅτι δὴ μὴ καὶ τοὺς τιτθοὺς αὐτῇ εὐρύτερον ἢ νῦν εἰσι τρυπώη, ὅπως καὶ ἄλλην ἐνταῦθα μίξιν ἐπιτεχνᾶσθαι δυνατὴ εἴη. – Procopius
Ummaka qinnassa nīk!
*MySmiley*
A simple proposal.
- 08/03/2010 10:26:32 PM
417 Views
Wouldn't that pretty much screw over what existing business there are?
- 08/03/2010 10:47:20 PM
187 Views
Not really.
- 08/03/2010 10:58:13 PM
191 Views
I don't think that deals with my objection.
- 08/03/2010 11:27:48 PM
186 Views
Sure it does. Expand or die is pretty much what it says. Your objections are noted, and ignored.
- 09/03/2010 12:43:53 AM
176 Views
"Expand or die" I like that
- 09/03/2010 01:32:19 AM
181 Views
I'd be fine with corporations not paying taxes if they didn't have so many rights.
- 12/03/2010 03:05:24 AM
152 Views
Noted and ignored rather than addressed?
Punishing past success seems a strange idea though
- 09/03/2010 10:54:25 AM
163 Views
Punishing past success seems a strange idea though
- 09/03/2010 10:54:25 AM
163 Views
Wouldn't all the current manufacturing businesses just spin-off mini-factories?
- 08/03/2010 10:54:32 PM
162 Views
uhm, not that you don't have a reasonable idea
- 08/03/2010 10:59:32 PM
193 Views
It's Obama's fault because he can't grasp how jobs are created.
- 09/03/2010 12:46:02 AM
168 Views
but does not Congress write/pass legislation?
- 09/03/2010 01:33:25 AM
159 Views
Let's not be naive. The President has the power to introduce and direct legislation.
- 09/03/2010 03:00:05 AM
152 Views
More government hoop-jumping is not a long-term solution to anything.
- 08/03/2010 11:31:11 PM
186 Views
Ultimately, no corporate tax would be a good thing.
- 09/03/2010 12:47:34 AM
182 Views
That would have been my suggestion.
- 09/03/2010 01:06:41 AM
166 Views
or we could just throw out most taxes all together
- 09/03/2010 01:36:02 AM
160 Views
That wouldn't actually raise that much money, even if they currently paid no taxes.
- 09/03/2010 01:44:28 AM
167 Views
It's why the personal income tax is the primary source of government revenue.
- 09/03/2010 02:58:20 AM
179 Views
