This is so simple it makes me wanna cry.
A real, literal jobs credit, instead of various plans to let tax breaks and stimulous money dribble down to people who work for a living.
My proposal is to measure totals submitted on W-3s for domestic taxable wages. Income eligible for the foreign tax exclusion would not qualify. Credit would equal 25% of the increase over the average of last two years. Credit would be subject to recapture if wages decrease within a three year period.
Waxing Moon, Inc. submits a W-3 with SS wages of $190,000 for 2008 and $210,000 for 2009. SS Wages in 2010 is $240,000. Average for two previous years is $200,000. With the $40,000 increase in 2010, this credit would be $10,000.
I am amazed at how many programs and tax breaks are supposed to create jobs, but none of them DIRECTLY reward a company for actually creating jobs. There is talk about capital gains to reward sellers of property, and billions for the banks to loan to small businesses, which they can apparently pay out in bonuses or do whatever they want. But why not have a REAL jobs credit? And this time don't make people hire prisoners, chronically unemployed, head cases, etc to qualify.
Replace all this political babble with something real to reward companies who actually DO provide wages, not something bureaucrats think will dribble down to workers.
A real, literal jobs credit, instead of various plans to let tax breaks and stimulous money dribble down to people who work for a living.
My proposal is to measure totals submitted on W-3s for domestic taxable wages. Income eligible for the foreign tax exclusion would not qualify. Credit would equal 25% of the increase over the average of last two years. Credit would be subject to recapture if wages decrease within a three year period.
Waxing Moon, Inc. submits a W-3 with SS wages of $190,000 for 2008 and $210,000 for 2009. SS Wages in 2010 is $240,000. Average for two previous years is $200,000. With the $40,000 increase in 2010, this credit would be $10,000.
I am amazed at how many programs and tax breaks are supposed to create jobs, but none of them DIRECTLY reward a company for actually creating jobs. There is talk about capital gains to reward sellers of property, and billions for the banks to loan to small businesses, which they can apparently pay out in bonuses or do whatever they want. But why not have a REAL jobs credit? And this time don't make people hire prisoners, chronically unemployed, head cases, etc to qualify.
Replace all this political babble with something real to reward companies who actually DO provide wages, not something bureaucrats think will dribble down to workers.
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