Click the Love
Support Free Republic
Go Monthly
Sponsors will donate $10 for each new monthly sign-up
Posted on 01/12/2012 5:35:58 AM PST by WOBBLY BOB
Gov. Mark Dayton and top DFL lawmakers proposed a jobs plan Wednesday that they contend would put thousands of unemployed Minnesotans back to work.
The DFL's prescription includes the $775 million bonding bill, which would include money to help businesses expand.
But it also would give Minnesota businesses a $3,000 tax credit for each unemployed person, veteran or recent college graduate they hire over the next year and a $1,500 credit for each new hire through June 2013. Leaders said the $35 million program would create 10,000 private-sector jobs this year and would be paid for by closing corporate tax loopholes and by imposing a new tax on Internet retail sales.
(Excerpt) Read more at twincities.com ...
“”and would be paid for by closing corporate tax loopholes and by imposing a new tax on Internet retail sales.”””
Translation; We will give a very temporary tax credit to your business so we can raise taxes permanently.
Plus, hire new people to do what? Nothing is going on.
Typical leftist logic. Raise taxes, then THINK you are helping by letting government pick a few special areas as “winners” to be given temporary tax breaks. (In the case of hiring homeless folks, it sounds very noble, but I’d want more than $3000 in most instances. Folks typically end up homeless due to a triple cocktail of substance abuse, mental illness and just-plain bad choices, perhaps with some bad luck thrown in. You can’t just pull someone off the street and expect them to make you money right away.)
The notion that jobs will be created by offering $3,000 or $4,500 in tax credits if firms hire employees that will cost them $20,000, $30,000, $40,000, or whatever per year is pure nonsense.
Businesses hire more employees when they can no longer supply their product or service to customers with their existing level of employees, not when they’re offered tax credits equal to a small fraction of the cost of a new employee.
Targeted tax credits never work, especially when they have an expiration date. Set an enviorment where taxes are low, easy to understand and applied consistently. That will create jobs. But, of course, it won’t allow Dems to meddle in the market so that’s out the window.
permanent tax increase for temporary tax credit...no wonder Dayton’s union goons back this
moving companies helping people leave MN for North and South Dakota.
Add in the cost to train the employee...and this idea is a real loser.
how’s that taxing the internet deal working for states that started doing it?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.