The Employment Act

[King]

I introduce this bill onto the Senate floor:

The Employment Act
Part I: The Job Credit
Every new job created by an employer with less than 3000 employees will be rewarded with a tax credit for the employer. The tax credit will be worth 10% of that employee's salary.


Part II: National Minimum Wage Raise
The federal minimum wage will be raised by $.25 an hour across the country. Local government minimun wage laws will not be affected.


Tax credits for small and medium sized businesses would  stimulate the job growth and discourage outsourcing and a national minimun wage raise would help workers aswell.

[King]

Make the employment credit a flat rate and I may consider.

There

[King]

a national minimun wage raise would help workers aswell. [/b]

By stimulating outsorcing?

Costs of the minimun wage raise will get paid back by the tax cut in Part I.

[King]

This bill would help both the businessman and the worker. The worker gets a higher salary and the businessman gets less taxes.

[King]

I would suggest, rather, that there be a tax credit tied to both domestic payroll and sales of goods.  A business' total credit would equal (domestic payroll) * sales * (credit rate).  The effect of this would be threefold:

1. The tax credit, being a per-sale credit, can be used by businesses to price domestic goods competitively with foreign competition.

2. The tax credit, being a per-payroll credit, will encourage more domestic job creation.

3. The combination of both cheap domestic goods and higher working-class employment will create a feedback effect that will lead to fantastic economic growth.

If appointed Treasury Secretary will you help the Senate introduce a real tax code? We have no real good ideas right now.

[King]

Sounds good.

[King]

We need a budget, so I withdraw this.