Meanwhile, back at home there is a fiscal crisis, for some reason thirty years of tax cuts have brought us the largest debt in human history. "Duh, what do we do Jug head?"
"Gee, I don't know Archie; you suppose ten million exported jobs and flat wages for more than a decade had something to do with it?"
Barack Obama announced a plan this week, that his administration wants to work with Congressional Republicans (Gee, when doesn't he?) on a plan to cut the taxes businesses pay into Social Security and Medicare. In the same breath they tell us there is a crisis in Social Security and Mr. Reagan, I mean, Mr. Obama wants to cut Social Security funding further but only to assist employers to hire more workers.
Use the worksheet below to determine just how many new workers you must hire with your new tax cut.
1. You operate a pizza restaurant and you have two delivery drivers who deliver forty pizzas per night. The federal government cuts the Social Security and Medicare tax that you must pay on each of your employees. How many more workers will you now need to hire to deliver forty pizzas per night?
2. You are a contractor who builds commercial and residential buildings. High credit standards, high unemployment and foreclosures have depressed your business. The federal government cuts your Social Security and Medicare tax which you must pay on each of your employees. How many more workers will you now need to fulfill the contracts that aren't available in your area?
3. You are the President of a first world nation struggling with a huge revenue and trade deficit. How do you increase revenue and lower the trade deficit?
4
3
2
