What is the economic solution-vey...?
...Just a few news tidbits to ponder for the average American: 1. Unemployment for those seeking jobs hits 10.2%, while the guestimate is that 17.5% is more realistic given that 7.3% have either given up on finding a job, living off of savings, or digging themselves deeper into dept. 2. Employers estimate their payrolls are down 22%. Good for them, assuming the reduction is due to firings, lay-offs, cut wages, shorter work weeks, and slashed bonuses. Surveys say that the average company's profits are stagnant or increasing slightly <--which makes sense: 'do more with less'. 3. The big banks/lenders and auto companies have been 'bailed out'. Some have already repaid their bail-out money, others have not. Small businesses have seen little bail-out money and have difficulty getting credit to grow their businesses thus creating jobs. ~2 of 3 American workers are employed by small businesses. So, why the big money to big, tight-fisted lenders (?) 4. The White House recently signed documentation to extend unemployment benefits to those who already receive or qualify for benefits. Good for the receivers. Gee, what about the Americans that do NOT qualify for benefits? The question is to my fellow Americans: Do you have a solution that quite possibly the White House has not considered? If so, please share. Thx ~peace~
Asked By: Mac S - 11/7/2009
Best Answer - Chosen by Asker
I disagree with the guy above because major corporations are doing just fine. Small businesses, which have driven job gains for the last 30 years, have been hit extremely hard by this thing, though. A better solution would be to push a lot of small business incentives, or maybe give a lot of new funding to the Small... More
Answered By: Caz - 11/7/2009
Additional Answers (1)
A partial solution is to lower taxes on businesses. Currently the federal corporate income tax rate is 35%, which is higher than any advanced industrial economy with the exception of Japan and Sweden. A corporate income tax cut will create the economic incentives for businesses to take risk, expand into new markets... More
Answered By: Crookedlettaman - 11/7/2009
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