These past few years, Government's attempt to combat unemployment (in addition to increasing GDP) has been an utter failure. According to the following sources, TARP was absolutely inefficient at creating jobs. From $160,000 to $278,000 and higher http://www.weeklystandard.com/blogs/obama-s-economists-stimulus-has-cost-278000-job_576014.html http://abcnews.go.com/blogs/politic...-job-white-house-calls-that-calculator-abuse/ http://finance.townhall.com/columnists/jeffreeves/2011/09/03/cbo_cost_per_job_between_$196,750_and_$562,000/page/full As sarcastic as it may sound, it probably would have been better for the overall economy to give people lump sums @ $50,000 or so. However, it would be irresponsible to convert the Government into a wealth re-distributer of this magnitude. BUT! there is a solution, of a sort. Obviously, most of the unemployed people had jobs before the recession so the potential for those jobs is there just not the motivation to employ. So... my idea is that the Government via the IRS reduce from a corporation/business's taxes the amount of an employee's salary. So if a corporation hired 10 new people at $40,000 a year they could have $400,000 written off their taxes. To reduce excessive abuse via excessive salaries, a bottom cap of $30,000 and a max limit of $150,000 would be set. I would appreciate inputs and modifications
I'm confused. Aren't wages a business expense that would be dealt with prior to the derivation of profit on which the federal government taxes?
In a way, yes. IF a business files a claim they can deduct employee wages however the IRS takes care to make the process complicated and the regulations excessive. What I'm more interested in is making the wage deduction automatic and universal, not voluntary.
I can fix this easily ban in the US the use of robotic systems for any kind of work other than law enforcement and military applications. Then we would create LOTS of jobs adding in strong protections for employees here I would require duties to the community and nation be on par with the obligations to stock holders.
