Out of Order Tax Cuts

Submitted by ub on

Here's an idea for Congress to consider, instead of blowing the hatch from their stinking careers. Businesses and rich people who own stocks are doing great. They make loads of money, while regular folks are not doing so well because the government has allowed wages to be capped.

The GOP wants us to believe that companies which will be making more money is good for poor folks and this would create new jobs. Trickle down, or voodoo economics have never worked. There are no guarantees that hiring will increase. How about if a business tax cut were based on permanent increases in the num jobs and total payroll.

If the business permanently increases its staff by 3% it gets 3% tax cut up to a maximum of 12-15 percent.
If they cut employees or lower pay it would drop back by the same amount.

They used to have an Investment Tax Credit of 15 percent off your tax bill. If they buy new equipment that increases the job count they would get some additional kind of tax credit or rate reduction for that.

If they buy new equipment that DECREASES the job count they would get some additional kind of tax BILL or rate INCREASE for that. Like the bailout was to loosen credit. Instead, the banks all kept the money and do not loan it out. This did not loosen credit.

The tax cut will not create new jobs. In fact, there's no telling what the increased profit will do but probably just go to stockholders and most individuals might get a bit thru mutual funds.

GOP Senator Loses His Cool When Confronted About Tax Cuts For The Rich https://www.yahoo.com/news/gop-senator-loses-cool-confronted-154034548…

Senators Hatch, Brown have heated exchange on GOP tax plan http://thehill.com/homenews/senate/360855-gop-chairman-explodes-in-ange…

Hatch Blows Up On Dem Sen. Brown: Tired Of "That Crap" That Republicans Only Help The Rich https://www.realclearpolitics.com/video/2017/11/16/hatch_blows_up_on_de…

GOP senator loses his cool when confronted about tax cuts for the rich: http://aol.it/2APEsx0