Corporate taxes have been reduced by 14 percent; they (and many have given) could give more raises to workers. We need to incentivize that. We need the private sector stepping up more. If I was the head of a large corporation and my corporate taxes were reduced, I would give raises to thousands of my employees. How much more money will they make in just the first year after a reduction in taxes? It would be a windfall. And Congress could rightly expect companies to put that money to work by giving employees a raise, getting them to be more productive, hiring new workers and bringing businesses back to the U.S.
About 45 million Americans are living below the poverty line. It used to be about 60 million. President Trump should do what he says he will do to root out corruption and waste. In helping these people, let’s incentivize companies to hire somebody who is living in poverty or to hire somebody who is a military veteran. Maybe there could be a $10,000 tax credit for companies that show a net increase in employees who have been hired out of welfare, unemployment or any other government program. (They would have to be employed for at least 12 months to get the credit, and the company has to have a net increase in total employees.) This would save the taxpayers a lot of money and help those in need’s self-esteem. Just do it for twelve months to see what kind of result we get.
These are very simple things, and they don’t require a bill of 500 pages to get them accomplished.