Let's hope those corporations are willing to hire the old geezers who don't have enough money set aside for retirement. Job openings that go unfilled for want of people to fill them are not much help. The problem of an insufficient number of workers vs the number of retired people remains in the post 2016 time frame.
All the more reason to switch to the consumption base rather than the wage base for taxes.
Consumption is a much larger base - and more stable as well.
Job openings that go unfilled for want of people to fill them are not much help.
Wages have been known to go up under such conditions, as well as the fact that new manufacturing facilities provide modernization with increased worker productivity from technological advances.
I not too worried about such manufacturers going wanting for labor, especially as there are so many folks running around that have taken lesser positions for lack of such opportunities.
But then we can always provide for more immigration if you really figure this nation can't support an upsurge in well paid new manufacturing jobs instead of more burger flippers.
The problem of an insufficient number of workers vs the number of retired people remains in the post 2016 time frame.
Which is what the Social Security reform fight is all about.
However the potential for economic growth and incentive for personal investment becomes part of the solution to such problems with a consumption tax system that does not tax investment or savings encouraging folks away from their dependancy on government programs like SS/Medicare for their futures and into providing for their own futures.
Coupled with personal retiremtent accounts, an NRST creates the necessary environment conducive to the longer term success of extracting our selves from the morass of SS/Medicare mistakes of the past.
For the NRST is a fundamental change in paradigm and how people utilize their incomes, as well as providing revenues for the constitutional functions of government.
| President Bush's FY 2005 Budget http://www.whitehouse.gov/infocus/budget/index.html
Strengthening Our Economy: Despite the series of shocks that slowed the economy, including a sharp drop in the stock market beginning in 2000, the terrorists attacks of 9/11, corporate scandals, and war, America’s economy is strong and getting stronger. The tax relief proposed and signed into law by President Bush was the right action at the right time for our economy. The results of this decisive action are clear. Economic growth in the second half of 2003 was the fastest in nearly 20 years. New home construction in 2003 was the highest in 25 years; homeownership levels are at historic highs; manufacturing activity is increasing; inflation and interest rates are low; and a quarter million jobs were created in the last half of 2003. And the President’s tax relief agenda has resulted in significant benefits for the taxpayers of America:
President Bush’s FY 2005 budget includes his call to Congress to secure these positive economic trends for the future by making the tax relief permanent – so families and businesses can plan and invest with confidence. |