Economic growth in the United States has been slowing down and the highest rate we have seen in the recent years is around 2 percent. That is nothing considering that Americans now live longer, the population is growing and millions of young Americans join the workforce every single year. There are many great ideas to improve our economy but the problem is the implementation.
The most effective way of giving the US markets a boost is to lower taxes. Lowering taxes will bring back all the Fortunate 500 companies that have moved their manufacturing facilities overseas. Furthermore, lower taxes will bring back all the capital that companies are holding overseas for fear of being subjected to high tax rates.
Low tax rates would be a great incentive to small business owners and large corporations to open new stores and offices, and this will create employment opportunities for the youth. When people know that taxes will not take a huge chunk of their earnings, they have an incentive to invest. Furthermore, the number of tax evasion incidences will also reduce.
Research and development can help to boost economic growth. Technological advancements are always a welcome change in an open market. This is because consumers are always willing to spend on newer technologies that are more efficient.
Making coal clean is something that can benefit the entire US economy. Instead of banning the use of coal, which has led to job losses and closure of plants. Technology should be harnessed to make coal cleaner. The same has already been done with heating oil, as new heating oil furnaces release almost negligible quantities of greenhouse gasses into the atmosphere. This technology will ensure that the vast coal fields in America give the energy industry and jobs market a shot in the arm.
Red tape is a term used to refer to all the bureaucracy, strict rules and regulations that investors, inventors and small business owners are normally subjected to when they want to open a new business, register a patent or have a product approved by the FDA. By loosening the red tape and easing the restrictions, we can improve economic growth in the United States.
Attracting foreign direct investment is important. Currently, a foreigner has to invest at least half a million dollars in a US business and create 10 new permanent jobs to get permanent residency. Another pathway to citizenship is investing a million dollars in the US economy. If these figures are lowered to, say $100,000 for business investment and $500,000 investment anywhere in the country, we can attract much more foreign direct investment.
Lowering college fees is a great idea. Many Americans do not go to college simply because they cannot afford it while those who go to college normally graduate with huge student loan debts that make them an economic liability. Ideally, the government should reduce or subsidize college fees to make it more affordable for US citizens. This will go a long way in jump-starting economic growth and provide every industry with skilled manpower.
The most effective way of giving the US markets a boost is to lower taxes. Lowering taxes will bring back all the Fortunate 500 companies that have moved their manufacturing facilities overseas. Furthermore, lower taxes will bring back all the capital that companies are holding overseas for fear of being subjected to high tax rates.
Low tax rates would be a great incentive to small business owners and large corporations to open new stores and offices, and this will create employment opportunities for the youth. When people know that taxes will not take a huge chunk of their earnings, they have an incentive to invest. Furthermore, the number of tax evasion incidences will also reduce.
Research and development can help to boost economic growth. Technological advancements are always a welcome change in an open market. This is because consumers are always willing to spend on newer technologies that are more efficient.
Making coal clean is something that can benefit the entire US economy. Instead of banning the use of coal, which has led to job losses and closure of plants. Technology should be harnessed to make coal cleaner. The same has already been done with heating oil, as new heating oil furnaces release almost negligible quantities of greenhouse gasses into the atmosphere. This technology will ensure that the vast coal fields in America give the energy industry and jobs market a shot in the arm.
Red tape is a term used to refer to all the bureaucracy, strict rules and regulations that investors, inventors and small business owners are normally subjected to when they want to open a new business, register a patent or have a product approved by the FDA. By loosening the red tape and easing the restrictions, we can improve economic growth in the United States.
Attracting foreign direct investment is important. Currently, a foreigner has to invest at least half a million dollars in a US business and create 10 new permanent jobs to get permanent residency. Another pathway to citizenship is investing a million dollars in the US economy. If these figures are lowered to, say $100,000 for business investment and $500,000 investment anywhere in the country, we can attract much more foreign direct investment.
Lowering college fees is a great idea. Many Americans do not go to college simply because they cannot afford it while those who go to college normally graduate with huge student loan debts that make them an economic liability. Ideally, the government should reduce or subsidize college fees to make it more affordable for US citizens. This will go a long way in jump-starting economic growth and provide every industry with skilled manpower.
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