created Dec 02, 2010
updated Aug 21, 2011
Situation: Opposing views re expiring taxes for $250k+ earners do not appear to be focused on job creation, but rather on politics. President Obama's 2011 proposed tax increase for $250k+ earners may significantly reduce deficit. Republicans appear concerned that further job loss, may be an unintended consequence.
Assumption/Guiding Principle: Bilateral agreement on placing primary focus on American job creation, instead of "playing politics."
Ideal Outcome: Use bilateral common ground, e.g., job creation to drive decision making process. Take "highest" common denominator for a hybrid solution that would benefit the majority of Americans.
Recommendation: ONLY extend tax break for both individuals and business owners that earn over $250k AND also have more than X number of part-time / full-time employees (for individuals this may include: nannies, maids, assistants, drivers, trainers, bodyguards, accountants, etc.). Business owners tax breaks may apply at different levels depending on size, so as to provide incentives encouraging them to not only keep but also hire additional employees so that they can "keep" their tax break. Individual earners may consider hiring P/T or F/T "assistants" so they too can "keep" their tax break.
Benefits: Assuming a proper framework is established for implementation, this may indeed create incentives for solid job creation, while making both sides agree to do what is best for America, instead of the current "politics as usual" stance.
Drawbacks: Improper rules/framework may not yield adequate execution negating intended benefits, i.e., loopholes. May be costly to implement / regulate.
Personal Plea to Politicians: Please, put aside your differences and focus on what is best for our wonderful country. Consider the likes of Warren Buffet, et. al.; to assist in establishing a proper framework so as to achieve intended results. Say YES to extending the $250k tax break for ONLY those that are helping generate more jobs. Let's work together to get America back!!!.
Thanks and Regards,
A Warren Buffet admirer and concerned Independent American
P.S. Apologies, if this has been brought up before. This is my first visit and post to what appears to be a viable feedback mechanism.
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- tax, jobs, 2011, obama, job creation incentive, warren buffet, $250k tax breaks, president obama, republicans, democrats, bilateral solutions, proposal
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