How to lower unemployment through sane taxation policies.
The politicians have rewarded the rich by setting up a tax system that rewards the wealthy to produce high unemployment. High unemployment makes the rich better off because then they can pay lower wages. Lower wages result in higher profits. In the interest of creating a just society it is the duty of the rich to be job creators. They need to be encouraged to create good paying jobs through a sane taxation policy. Keep reading on how this can be done. . .
Wealth is not created by the government or the rich. Wealth is created by labor and the use of natural resources. However we as a society need good laws, leaders and rich people to further the good of everyone.
No one has gotten a job from a poor man. Only the well to do and creative people can make jobs that are worthwhile. The government should only be creating jobs that are necessary to keep balance in society. Whenever the job creators outside of government are not doing their task in life it is the function of government and non profit organizations to produce employment at expense of those that have.
What are the wealthy doing now with their after tax income?
Some of it is spent on expensive imported things. Some is used to buy antiques and valuable art work and perhaps the rest is invested in stocks and commodities. Very little of their resources is used to further the good of the rest of us.
Buying stocks is not putting anyone to work. If you are smart investor you may want to buy stock in a company that plans to outsource their labor. Less labor cost mean larger dividends.
How can we encourage the wealthy to create more productive jobs that provide the laborer with a wage that can support a family?
I believe the rich should not have to pay any taxes under a new tax system proposed by the Planetary Order Of Oppressed People.
Under the new tax system the rich and even the average business man would not have to pay income taxes. To encourage them to get out of taxes they would have to earn tax credits. For every job they would be responsible for creating they would be given a tax credit. The following is an example the numbers would be adjusted as needed. All income over $250,000 would be taxed at 90%. If you were responsible for creating one job and your income was $350,000 you would pay no taxes on any income from $250,000 to $350,000. If you created three and half jobs you would owe no taxes at all. If your income was only a $100,000 and you created one job you would owe no taxes. If you created two and half jobs and your income was $250.000 you would pay no taxes. These numbers would not be carved in stone. As unemployment drops the top tax bracket would go down or the tax credit would go up. As employment went up would pay no taxes on say $250.000 to $400,000 and would only have to create one job. At full employment all income over $250,000 would be tax free. When employment if very high the credit for one job would be on income from say $250,000 to $300.000.
Under the new tax system corporations would pay no income tax. Part of the income of the corporation would be required to pay dividends. The rest of the corporate income would be used to create jobs. If the corporation had $100,000 of income and the corporation created one job the rest of the income would go to the stockholder and the stockholder would pay no income tax on the $50,000 of income. If the stockholder was not a citizen the income going to an investor out of the country would be taxed at 90% to encourage ownership by US citizens.
In the interest of national security it is of outmost importance that our corporations in this country be owned by our citizens. Corporate income of corporations owned by foreign people would be taxed at 90%.
As America gets back to full employment the 90% tax rate would be lowered and the amount of tax rebate would be adjusted to control inflation. We need to get away from the notion that the Federal Reserve should control the level of inflation and employment. Tax policy should be used more than monetary policy of the bankers.
No income tax should be used for defense. Defense should be paid by a property tax. Follow the money and we know why the poor person pays for defense. It is not to protect his life. Defense is for the protection of property. Homeland security is to protect property at the expense of the little guy. Why all the security at the airport? Is it for the passengers or property. The airplane is worth more than the passengers. Do the rich go through security to get on their private planes?
Another form of revenue would be a national sales tax.
Income tax should finally done away with except for high income earners. The tax proposed would be used to prod the wealthy good paying jobs. The jobs that they would be given a credit would have to be at median wage or above to receive a tax credit.
Just lowering the tax on the rich to hope that their enormous income will trickle down really doesn’t make sense. It has been call voodoo economics. The rich only care about the rich.
The lowest paying job for a citizen should be enough to provide an income to raise a family.
Wealth is not created by the government or the rich. Wealth is created by labor and the use of natural resources. However we as a society need good laws, leaders and rich people to further the good of everyone.
No one has gotten a job from a poor man. Only the well to do and creative people can make jobs that are worthwhile. The government should only be creating jobs that are necessary to keep balance in society. Whenever the job creators outside of government are not doing their task in life it is the function of government and non profit organizations to produce employment at expense of those that have.
What are the wealthy doing now with their after tax income?
Some of it is spent on expensive imported things. Some is used to buy antiques and valuable art work and perhaps the rest is invested in stocks and commodities. Very little of their resources is used to further the good of the rest of us.
Buying stocks is not putting anyone to work. If you are smart investor you may want to buy stock in a company that plans to outsource their labor. Less labor cost mean larger dividends.
How can we encourage the wealthy to create more productive jobs that provide the laborer with a wage that can support a family?
I believe the rich should not have to pay any taxes under a new tax system proposed by the Planetary Order Of Oppressed People.
Under the new tax system the rich and even the average business man would not have to pay income taxes. To encourage them to get out of taxes they would have to earn tax credits. For every job they would be responsible for creating they would be given a tax credit. The following is an example the numbers would be adjusted as needed. All income over $250,000 would be taxed at 90%. If you were responsible for creating one job and your income was $350,000 you would pay no taxes on any income from $250,000 to $350,000. If you created three and half jobs you would owe no taxes at all. If your income was only a $100,000 and you created one job you would owe no taxes. If you created two and half jobs and your income was $250.000 you would pay no taxes. These numbers would not be carved in stone. As unemployment drops the top tax bracket would go down or the tax credit would go up. As employment went up would pay no taxes on say $250.000 to $400,000 and would only have to create one job. At full employment all income over $250,000 would be tax free. When employment if very high the credit for one job would be on income from say $250,000 to $300.000.
Under the new tax system corporations would pay no income tax. Part of the income of the corporation would be required to pay dividends. The rest of the corporate income would be used to create jobs. If the corporation had $100,000 of income and the corporation created one job the rest of the income would go to the stockholder and the stockholder would pay no income tax on the $50,000 of income. If the stockholder was not a citizen the income going to an investor out of the country would be taxed at 90% to encourage ownership by US citizens.
In the interest of national security it is of outmost importance that our corporations in this country be owned by our citizens. Corporate income of corporations owned by foreign people would be taxed at 90%.
As America gets back to full employment the 90% tax rate would be lowered and the amount of tax rebate would be adjusted to control inflation. We need to get away from the notion that the Federal Reserve should control the level of inflation and employment. Tax policy should be used more than monetary policy of the bankers.
No income tax should be used for defense. Defense should be paid by a property tax. Follow the money and we know why the poor person pays for defense. It is not to protect his life. Defense is for the protection of property. Homeland security is to protect property at the expense of the little guy. Why all the security at the airport? Is it for the passengers or property. The airplane is worth more than the passengers. Do the rich go through security to get on their private planes?
Another form of revenue would be a national sales tax.
Income tax should finally done away with except for high income earners. The tax proposed would be used to prod the wealthy good paying jobs. The jobs that they would be given a credit would have to be at median wage or above to receive a tax credit.
Just lowering the tax on the rich to hope that their enormous income will trickle down really doesn’t make sense. It has been call voodoo economics. The rich only care about the rich.
The lowest paying job for a citizen should be enough to provide an income to raise a family.
posted by Sigurd Throan at 4:02 PM
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