Congress is working overtime right now, or so it seems.
I sure hope they’re not getting overtime pay, either time and a half or double OT.
There are a few jobs bills that have been recently introduced in Congress. They’re designed to encourage jobs hiring by offering companies limited tax credits and temporary payroll tax relief.
Personally, I don’t think these incentives will do much to add new jobs.
I’m a strong proponent of lower taxes, capitals gains tax rates and some tax credits.
But companies don’t hire new employees because of a tax credit. They hire new employees when they need them.
If your company is growing you’re likely in a hiring mode. And it’s probably time to hire new employees, if you’re ramping up for an expected increase in orders and new business.
Lower taxes? Bring them on!
Lower capital gains tax rates? Let’s keep them low like they are right now.
But these tax proposals to create new jobs? I don’t think they’d have much impact on real jobs growth.
So what do we need to jumpstart this economy?
For starters, we need a climate of confidence.
More on that tomorrow.
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