I keep hearing that with tax incentives, reducing regulations, and closing tax loopholes, we will be able to create more jobs and get Americans back to work.
Unfortunately, nothing could be further from the truth. This is wishful thinking, in fact it is just pure hope and I have been preaching it for many years: “hope Is NO AND strategy”
In the previous article, I talked about eliminating corporate income tax loopholes by introducing a 20% flat tax for all corporations.
It’s elementary and certainly meets the honesty test. Every other proposal to create jobs, from officials to those who want to, is just noise. The truth is that there are a lot of job vacancies in the company and each one is currently filled.
A business owner will not overemploy workers just to be able to say that he has done his duty. This income must justify hiring additional employees. Therefore, the required actions that need to be implemented immediately should be targeted specifically at the employees themselves.
A significant number of corporations, from GE to Corning Incorporated and from US Airways, Inc. after John Deere, they would have hundreds of thousands of job openings if they chose to fire their foreign workers and bring those jobs home.
When I make a call to make an airline reservation, I invariably reach an employee in the Philippines. Why couldn’t this employee be located in Detroit, Michigan or Columbus, Ohio?
Yes, it is cheaper to keep these jobs in other countries, and it will cost a fortune to bring them back to the US. So I, like the president, Jean-Claude Trichet and Ben Bernanke, will move on to the next article on how to pay for the repatriation of US jobs.
Make no mistake, this is not about repatriating corporate dollars (attempted unsuccessfully under President George W. Bush), this is about wholesale firing workers from abroad and bring those jobs back to the United States.
Will this pose a challenge to our relations with other countries? Of course. But imagine a “Help Wanted” sign in Corning, New York advertising 10,000 jobs. Think about the revitalization of a commune, a region, a state or even a country.
Now imagine this action taken by every corporation across America. This strategy transcends Republicans, Democrats, conservatives and liberals, whether they are unionized or not. This policy should be called the American Job Repatriation Act, and it is definitely a course of action that every American should wholeheartedly embrace.
In the next article I will discuss how to pay for it.
John Ransom | Create your badge
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