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View Diary: Tax holiday would kill jobs, not create them (48 comments)

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  •  There is a way to let corporations repatriate (0+ / 0-)

    their trillions and yet still guarantee that they create millions of jobs and do it virtually overnight which is when we really need them.

    All it takes is for President Obama to borrow a tactic tried by both Hoover and FDR during the last Great Depression and send Congress a Bill that lowers the standard work week ( for the first time in over 70 years ) from 40 hours to 36 hours ( with no reduction in pay ) for all companies who employ over 100 people.

    This will create 8 million jobs and 8 million new tax payers essentially overnight as industry has to hire to make up for the lost production time, so it will not only not raise the deficit by a dime it will actually help reduce it as people formerly on public assistance of one type or another start paying into the system instead of taking out.

    Business of course will have to pony up some $ 360 billion to cover the new hires but they will get most of this back from

    1) increased profit as the 8 million new hires begin buying again and

    2) from price increases to the consumer.

    And as an added sweetner the same bill allows them to repatriate their $ 1.5 trillion in over seas profit tax free.

    Its win -  win and even the Tea Party is going to have a problem saying no.

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