Ideas to Fix U.S Economy

• Canada uses a National Sales Tax. Consumption taxes are less harmful than a tax on wages (discourages work) and salaries or a tax on investment (discourages saving).
• Singapore’s Jobs Credit program pays employers to keep people on the payroll until demand revives in a downturn (keeping their unemployment at 3.3%). Singapore also pays companies to train workers while they are idle instead of laying them off.
• Have tax rates rise steadily from age 25 to age 55. By paying lower taxes when you’re young and more when middle-aged, Americans would essentially be borrowing from their older, richer selves. Done in Australia.

Source: BusinessWeek / Peter Coy

@9 months ago with 2 notes
#economy #america