To: President Donald Trump, The United States House of Representatives, and The United States Senate
Eliminate Payroll Tax
To really spark an economic recovery, we need to eliminate the single biggest source of hiring friction: payroll taxes.
The hassle associated with filing payroll taxes inhibits many small businesses from hiring their first employee. The cost of them reduces the total number of employees any business will support.
If you want to actually do something to create jobs, you need to eliminate this unnecessary drag on our economy.
To replace the revenue, create a carbon tax on all fuels indexed by the mass of CO2 released into the atmosphere when the fuel is burned. The rate of the carbon tax per unit of CO2 can be adjusted as necessary to ensure adequate funding of Social Security, Medicare, and Unemployment Benefits.
The hassle associated with filing payroll taxes inhibits many small businesses from hiring their first employee. The cost of them reduces the total number of employees any business will support.
If you want to actually do something to create jobs, you need to eliminate this unnecessary drag on our economy.
To replace the revenue, create a carbon tax on all fuels indexed by the mass of CO2 released into the atmosphere when the fuel is burned. The rate of the carbon tax per unit of CO2 can be adjusted as necessary to ensure adequate funding of Social Security, Medicare, and Unemployment Benefits.
Why is this important?
Replace Payroll Tax revenue with Carbon Tax revenue, dollar for dollar. Boost job creation while creating market pressure for more energy efficiency and cleaner energy sources.