With labor participation rates too low and lack of business hiring we would like the President and Congress to introduce legislation that gives tax deductions in excess of those already existing to hire new employees.
As those unemployed are not able to contribute meaningfully to the tax base we believe that allowing business to deduct a percentage of their new hire wages in excess of their total payroll line items from income will both incentize the private sector to hire while at the same time get some contribution from those who are not earning payroll wages.
This legislation should have either sunset provisions or benchmarks to reduce the tax breaks once the United States reaches an agreed upon normal rate of payroll employment.