Normally my focus is workplace issues, not business issues. But today’s post is strictly about business with an idea that would most certainly drop the unemployment numbers, and probably rev up the economy, as well.

I can’t take credit for the idea. I’m borrowing it from a similar idea I read in The Blue Blog, which I discovered following a link tweeted by Brendan Stormo, an entrepreneur out of the San Francisco area.

Quite simply, the idea is this:  Abolish employment taxes on new hires for a year. That means nix all statutory payroll taxes for 365 days.  This would be the employer side of all Federal income tax, the employer side of all Social Security taxes, and the employer side of all Medicare tax withholding.

While I think this is a great idea to boost the economy and get people back to work, the United States Congress would probably spend a lot of time debating which unnecessary strings should be attached to it. Therefore, modified versions of this idea could be adapted by states. Think about it: The employer side of state income tax withholding and any local taxes suspended for a year. States that really wanted to drop their unemployment numbers could also offer other tax breaks for each new employee.

Like the idea?  Spread it around. Contact your state senators and representatives and suggest they consider it. Contact your governor’s office and make suggestions there, too.  Just the few people I talked with about this idea agreed that they’d add people to their payroll if such incentives existed. Extrapolate that across the country and we’d see a dramatic boost to the economy.

Whatcha waiting for?

Share This

Filed in Work, Business, Workplace, Corporate Culture