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Health & Fitness

Tie Tax Breaks to Unemployment? Interesting Idea!

"Tie Tax Cuts for Rich to Unemployment Rate" Interesting Idea

Mercury News, Letter to the Editor, November 25, 2011, Chris Fure, Berkeley, CA.

Tie tax cuts for rich to unemployment rate

"The recent failure of the supercommittee, which occurred because Republicans refuse to give up the Bush-era tax cuts, can be solved with the following compromise:

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Tax cuts for the wealthy can be tied to the national unemployment rate. In other words, the Bush tax cuts would be taken away today but returned when the unemployment rate falls to 5 percent. Moreover, greater tax cuts for the wealthy can be triggered when unemployment falls to 4 percent, then again to 3 percent, and so on.

This compromise solution creates real incentive for the wealthy to hire, as well as stem the tide of foreign outsourcing. Note: If foreign outsourcing is restricted to components only, millions of U.S. assembly jobs can be immediately created, bringing the wealthy closer to their tax cuts."

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