Corporate tax break reform

I have a very simple idea for closing tax loopholes while getting corporations keep getting tax breaks.

Tie tax breaks to jobs created and maintained, with additional credit given for length of service and certain salary milestones, so that businesses are credited for their positive impact on the economy and on the tax base.

With each american worker on the payroll providing a sizable credit, it should be designed so that companies start with a high tax rate, but can easily reduce or eliminate their tax burden by providing STABLE, long term, and reasonable paying jobs to enough of the people that need them.

The beauty of this is that it would directly encourage companies to keep good jobs here, and the companies that get out of paying taxes under this approach are going to generate tax revenue indirectly through high employment, generally enough to ofset the lost taxes.

Thoughts?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s