Proposal to create new jobs

[Jdriller]

Proposal to create jobs immediately
Pass a tax credit of $20,000 for small business owners for each new hire full time employee
Tax credit to be limited to only those companies with less than 150 current employees. No credits to large companies or corporations. Tax credit to be taken away or reversed if the new employee is let go in less than 1 year, and for each current employee who is let go who is already working at the “company” the tax credit would also be reversed. This would insure that the employee would have a job for at least one year and that the companies would not fire or let go current employees to make room for new employees to take advantage of the tax credit. It might also get a lot of people currently getting entitlement payments off the governments tab and into the work force which would off set some of the cost of the program.
Many small business’ would hire more employees in return for a 20,000 tax credit. Plus the salary over the first 20,000 would be deducted from the companies gross profits. If 1 million people were employed under this proposal the cost of the program would be 20,000 x 1,000,000 or 20,000,000,000 or 20 billion dollars per 1 million new jobs, which is a hell of a lot less costly than any other proposal out there and provides a direct incentive to hire new people in the small business sector where half of all the people employed are currently working.

[TexTushHog]

It won't work, IMHO. I have close to a dozen employees. If the government paid 75% of a new hire's salary I wouldn't hire anybody. I've got all the employees I need for the amount of work I have. If I had more work, I'd hire additional employees no matter what the tax situation. And not matter what the tax situation, I wouldn't hire somebody unless I had work for them.

Do you hire folks when there is nothing for them to do? And if you have things for them to do that are productive, are you really worried a about taxes in your business?

[MrGiz]

Hey now.... watch it!! * That's twice in one week!! * Keep posting common sense replies like that, and you will make it difficult to disagree!

[Munchmasterman]

Originally Posted by Jdriller

Proposal to create jobs immediately
Pass a tax credit of $20,000 for small business owners for each new hire full time employee
Tax credit to be limited to only those companies with less than 150 current employees. No credits to large companies or corporations. Tax credit to be taken away or reversed if the new employee is let go in less than 1 year, and for each current employee who is let go who is already working at the “company” the tax credit would also be reversed. This would insure that the employee would have a job for at least one year and that the companies would not fire or let go current employees to make room for new employees to take advantage of the tax credit. It might also get a lot of people currently getting entitlement payments off the governments tab and into the work force which would off set some of the cost of the program.
Many small business’ would hire more employees in return for a 20,000 tax credit. Plus the salary over the first 20,000 would be deducted from the companies gross profits. If 1 million people were employed under this proposal the cost of the program would be 20,000 x 1,000,000 or 20,000,000,000 or 20 billion dollars per 1 million new jobs, which is a hell of a lot less costly than any other proposal out there and provides a direct incentive to hire new people in the small business sector where half of all the people employed are currently working.

TTH is generally correct on this but there are niches to be filled. If you add a way to stimulate demand it might create a domino effect of some type. What all that bullshit I just said means just because one idea doesn't work out exactly right, don't stop thinking. We need ideas now. Maybe 2 ideas combined? Who knows? Keep thinking everybody.

Originally Posted by TexTushHog

It won't work, IMHO. I have close to a dozen employees. If the government paid 75% of a new hire's salary I wouldn't hire anybody. I've got all the employees I need for the amount of work I have. If I had more work, I'd hire additional employees no matter what the tax situation. And not matter what the tax situation, I wouldn't hire somebody unless I had work for them.

Do you hire folks when there is nothing for them to do? And if you have things for them to do that are productive, are you really worried a about taxes in your business?

A point I've brought up many times. Any time you add an employee it should show a net increase in profit after his costs are deducted, regardless of tax rate. There are a few exceptions to this but those would be possibly backfilling positions to keep from losing current customers. Main point is that no business adds jobs just to be nice.