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Idea#2390

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Hiring & Recruitment »

Tax Incentive That Helps Everyone

Why Is This Idea Important?: A true stimulant for the economy that would help create jobs and stimulate the economy.

Create a tax incentive for businesses that show profits at the end of the year. They could designate a percentage of their end of year profits to be used over the next 1 - 2 years for new hires only (increasing their overall staff). This would create a huge incentive to create new jobs and expand their business vs throwing this money away in taxes to the government. More people would be employed, more people would be spending money in the economy and businesses would grow. Everyone wins!

Submitted by jvaracalli 2 years ago

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Comments (4)

  1. jvaracalli said:

    Hope to hear thoughts on this good or bad.

    2 years ago
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  2. sallietoo said:

    Tax Cuts and Tax Incentive are ALWAYS a good idea and the RIGHT way to stimulate the economy.

    2 years ago
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  3. jvaracalli said:

    If anyone would disagree I would like to know why. This is an idea I am planning to submit in much more detail to both state and federal officials.

    2 years ago
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  4. If you want businesses to get a tax benefit from hiring people, then there need to be some restrictions to make sure that the new jobs they create are "good" jobs.

    1. There should be some floor on how poorly paid the new jobs can be.

    2. The jobs must include some minimal level of benefits (sick time, health insurance, unemployment insurance etc.) We should think about whether "part time" jobs (such as 30 hours per week but only 30% of the usual benefits) should count here. I would argue they should not.

    3. There must be some floor on how bad the health insurance provided can be, including what fraction of the cost the employer pays, how high the employee's total out-of-pocket costs can be, how low the total ceiling on the total that the insurer pays can be, etc.

    4. There must be restrictions that the people who count as employees must already legally reside in America, and not be brought here from some other country in order to fill the jobs. Citizenship and ancestry are not the critical attribute. The goal is to employ the people who already live here.

    And so on.

    2 years ago
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