"A Payroll Tax Break for Jobs" NY Times January 25, 2010 by Charles Schumer and Orrin Hatch.
Are they actually suggesting that the payroll tax inhibits employment? That reducing the tax will encourage employment?
Wow, this is powerful stuff. Let's extend the power of this idea.
What if we were to eliminate other taxes? Now imagine, what if we eliminated the capital gains and dividend taxes completely. Additionally, what if we dropped the income tax to a flat rate of 10% for incomes over $40,000 a year?
If this surprise announcement were to happen tomorrow what do you think would happen to the stock market in one day? What do you think would happen corporate planning? What would happen with venture capital? What would happen to new business start-ups? What would happen to the value of the dollar? Where would international money flow? How much capital would be released into growing businesses?
Orrin, Chuckie...I never thought I would say anything like this, but I love you guys. You are really on to something here...just keep the ball rolling and expand the concept. (Oh, sit down with the president and explain this idea...he still thinks that raising taxes will spur job growth.)
Tuesday, January 26, 2010
Incredible Idea!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment