Companies & small businesses that hire new employees or increase wages, would receive a tax credit under the “Small Business Hiring Income Tax Credit System,” which President Barack Obama is calling on his American Congress to immediately pass.
President Obama is confident that his tax credit idea, if implemented, would encourage more than $200 billion in new hiring and pay raises, by providing a 10% income tax credit on wages added in 2012. The credit would be available to all companies, but would be capped at $500,000 per business to specifically spur small business hiring. Companies that claim the credit would be able to do so on a quarterly basis, which means all businesses would see tax relief sooner rather than later, for those hiring new staff.
By providing targeted tax relief to these businesses that are expanding and investing in their workforce, the “Small Business Hiring Credit,” would grow the economy, create jobs, and strengthen recovery, thus reducing Social Welfare handouts and bringing back confidence to consumer spending. The US Congressional Budget Office recently found that this type of targeted credit is possibly the single most effective business tax option for boosting hiring and for spurring economic growth.
Hello Irish Coalition Government, has this idea been examined in any great dept by those charged with enhancing our own public finances? Must we, as a nation, continue to whinge about our self inflicted wounds, while forced to listen to Independent / Sinn Féin political doctrine, which advocates the type of future chaos practised in Greece & which we as a nation just love to hear, but secretly in our heart of hearts know full well is as useful as an ashtray on a motorbike.
Must Ireland vanish into the defecation, which has been heaped upon us by the greed, apathy, criminality and arrogance of some?
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