If these 94 million people were put back to work, federal tax revenues would increase by roughly $2 trillion dollars per year.
The amount of increased community spending, state and local taxation would be phenomenal.
We would see our nation grow like China is now.
This needs to happen folks.
Are you pretty sure about those numbers?
That guarantees We the People would put maximum pressure on the next Congress to implement the Trump plan of recovery.
Don't forget that 94 million includes people that choose not to work, like my wife and I. We retired early, voluntarily. We aren't "rich", but we have enough to maintain our current standard of living indefinitely.
Some people choose not to work because the government provides for them. You won't get them back to work unless they want a better standard of living, and can get a job that pays well enough. However, that's a difficult proposition when the combination of state and federal benefits requires a $60,000/year job to replace them.
Don't get me wrong: I know there are lots of people out there that would like a productive job, or at least a better one than the part-time barista job they have now. But, the labor participation rate peaked at 67.3% at the end of the dot-com boom in 2000. It's not likely to get any higher than that, especially with the baby-boomers reaching the end of their careers.
I'm not sure how long this image will last: However, if we were to achieve the previous peak of 67.3% with today's population, that would be an additional 11.3 million jobs.
We would need to see a breakdown of the numbers to determine how many might be employed. This number includes everyone older than 16 and younger than 65 who does not have a job:
1. High school students
2. College students
3. Graduate students
4. Women at home taking care of small children
5. Early retirees
6. Rich people who don’t need to work
7. Guys who are in jail
The real question is how many people who aren’t in the labor force could reasonably be expected to be in it.
There are a lot of retirees muttering unkind things about you right now.