Targeting youth unemployment, Hillary Rodham Clinton plans to propose tax credits to encourage businesses to train young people and offer apprenticeships to develop lifelong job skills.
Clinton’s campaign said she would outline a proposed tax credit of $1,500 for every apprentice that a business hires….
Here’s a thought. How about lowering taxes altogether and getting the tax code out of the business of social engineering? With suitably low taxes, you wouldn’t need to play games with taxes as inducements to do this or as discouragements from doing that.
With suitably low taxes and the code out of the business of social engineering, businesses could spend their energies on sound business planning rather than on shopping around for a tax deal.
With suitably low taxes and the code out of the business of encouraging this or discouraging that, there’d be less need for special interest groups or lobbyists to push for this or that Very Important Consideration in our tax code. (Yeah, yeah, I know.)
There’s this, too, in Clinton’s plan:
The campaign said the tax credit proposal would require accountability for employment and earnings outcomes for businesses receiving the credit. Apprentices would need to be registered in order to be eligible.
The Progressive gives, and the Progressive takes away. The savings gained from her tax credit will be fully recouped in the costs of compliance. However, the government will grow, and more IRS bureaucrats will be hired, so it’s all good.
Note, too, that this doesn’t begin to address jobs availability in the ensuing robust, growing economy.