You knew it was coming...
...but this socialist buttstorm comes from a a five-term Republican congressman, serving on the banking committee and the joint economic committee, who's also dean of the School of Law at Chapman University and a professor of economics as well as law.
Just goes to show how far social the sheeple have strayed...
A federal boost for the jobs market
The government could agree to provide for 50% of a new employee's salary if an employer adds a job and gives it to someone who's been out of work six months or more.
"First, for the recovery to succeed, the private sector (not the public sector) needs to hire more people. And second, the private sector can be incentivized to do so with government spending.
"It will be difficult to get Democratic politicians to agree to the former, and to get Republican politicians to agree to the latter. But here is how it could work.
"The federal government could agree to provide for 50% of a new employee's salary if an employer adds a job and gives it to someone who's been out of work six months or more. With more than 6 million people who've been unemployed that long, businesses would have a large hiring pool.
"This would be costly, of course. If every one of the qualified employees was hired and received the average private sector wage ($28.10 per hour), working a 40-hour week for 50 weeks a year, the price tag would be $175 billion a year. But to put the numbers in context, the stimulus bill cost $787 billion.
"Where would we get the $175 billion? The Federal Reserve could provide the funds, with no serious risk of inflation and without any increase in the debt ceiling. In 2009, private banks sold the Fed large numbers of mortgage-backed securities that had been clogging up their balance sheets. Since then, the Fed has been selling those securities, often at a profit. In similar fashion, the companies that hire people under this program would sell the Fed corporate bonds or restricted stock, as the company prefers. The bonds could be created so as not to be payable, and the stock not convertible into common stock, until the company has increased its profits substantially and could easily repay the sums."
More @
http://www.latimes.com/news/opinion/commentary/la-oe-campbell-jobs-proposal-20110821,0,1746498.story
...but this socialist buttstorm comes from a a five-term Republican congressman, serving on the banking committee and the joint economic committee, who's also dean of the School of Law at Chapman University and a professor of economics as well as law.
Just goes to show how far social the sheeple have strayed...
A federal boost for the jobs market
The government could agree to provide for 50% of a new employee's salary if an employer adds a job and gives it to someone who's been out of work six months or more.
"First, for the recovery to succeed, the private sector (not the public sector) needs to hire more people. And second, the private sector can be incentivized to do so with government spending.
"It will be difficult to get Democratic politicians to agree to the former, and to get Republican politicians to agree to the latter. But here is how it could work.
"The federal government could agree to provide for 50% of a new employee's salary if an employer adds a job and gives it to someone who's been out of work six months or more. With more than 6 million people who've been unemployed that long, businesses would have a large hiring pool.
"This would be costly, of course. If every one of the qualified employees was hired and received the average private sector wage ($28.10 per hour), working a 40-hour week for 50 weeks a year, the price tag would be $175 billion a year. But to put the numbers in context, the stimulus bill cost $787 billion.
"Where would we get the $175 billion? The Federal Reserve could provide the funds, with no serious risk of inflation and without any increase in the debt ceiling. In 2009, private banks sold the Fed large numbers of mortgage-backed securities that had been clogging up their balance sheets. Since then, the Fed has been selling those securities, often at a profit. In similar fashion, the companies that hire people under this program would sell the Fed corporate bonds or restricted stock, as the company prefers. The bonds could be created so as not to be payable, and the stock not convertible into common stock, until the company has increased its profits substantially and could easily repay the sums."
More @
http://www.latimes.com/news/opinion/commentary/la-oe-campbell-jobs-proposal-20110821,0,1746498.story
