There’s a lot of holes in this line of thinking, I don’t even know where to start. First of all, some people wouldn’t get a better job even if they had a diploma, for example, your neighborhood stew bum, crackhead, or village idiot. Second, just because you have a bunch of new candidates qualified for jobs does not mean that jobs will magically materialize for them to fill.
Most importantly, the tax revenue is not “lost”; to even use such language is to designate every citizen as a serf to the state, useful only for how much the government can squeeze out of us. Taxes should be designed to cover necessary expenditures of government, and if there is not enough revenue, then you raise taxes, or cut expenditures. You do not bemoan the fact that there aren’t more people, or more productive people to tax, so that you could have more revenue to play around with.
At least this article understands that people are the most critical component to economic growth.