Frank Aquila's Jobs Agenda
futureofcapitalism.com

A lawyer at Sullivan & Cromwell, Frank Aquila, has a column in Businessweek calling for a "jobs agenda," including eliminating "burdensome regulation," reforming the tax code, and increasing skilled immigration. So far, so good, but then he adds on this:

Tax credits for jobs. Employers should receive additional tax credits for creating new jobs. A temporary federal tax credit would give businesses added incentive to create new jobs. While such a tax credit would reduce federal revenues in the short run, the economic growth generated by the new workers would eventually more than make up for any lost tax revenue.

Compare that proposal to his paragraph on tax reform, one paragraph earlier:

Read More...

Frank Aquila's Jobs Agenda
futureofcapitalism.com

A lawyer at Sullivan & Cromwell, Frank Aquila, has a column in Businessweek calling for a "jobs agenda," including eliminating "burdensome regulation," reforming the tax code, and increasing skilled immigration. So far, so good, but then he adds on this:

Tax credits for jobs. Employers should receive additional tax credits for creating new jobs. A temporary federal tax credit would give businesses added incentive to create new jobs. While such a tax credit would reduce federal revenues in the short run, the economic growth generated by the new workers would eventually more than make up for any lost tax revenue.

Compare that proposal to his paragraph on tax reform, one paragraph earlier:

Read More...