Economic growth in the United States has been slowing down and the highest rate we have seen in the recent years is around 2 percent. That is nothing considering that Americans now live longer, the population is growing and millions of young Americans join the workforce every single year. There are many great ideas to improve our economy but the problem is the implementation.
The most effective way of giving the US markets a boost is to lower taxes. Lowering taxes will bring back all the Fortunate 500 companies that have moved their manufacturing facilities overseas. Furthermore, lower taxes will bring back all the capital that companies are holding overseas for fear of being subjected to high tax rates.
Lowering taxes is seen as one of the best ways of jump-starting the American economy. Business owners will have the incentive to expand their businesses, hire more people and buy new equipment if they know that they can take more of their profits home. Today, the high tax rates are a major inhibitor to business growth.
New products are normally created through research and development. Every major company needs to have a research and development division to improve their products and introduce new product ranges. This will undoubtedly have a big impact on the economy. When consumers find a better product that is more efficient and performs better than what they have, they are more likely to spend, and this will boost our economic prospects.
There is a lot of coal in the United States, but government policy and concerns about climate change have made it impossible for this resource to be fully exploited. Coal plants have had to shut down and jobs lost. By putting in place measures to burn coal efficiently, we can exploit our God-given resources to the benefit of our nation. This has been done before with heating oil; it can also be done with coal. The key, however, is to formulate the right policies that will lead to development of highly-efficient and emission-free coal furnaces.
Simplifying regulations and removing red tape is also important. Too much regulation and bureaucracy is an economic deterrent. Setting up a business, getting a patent or obtaining FDA approval, among other things, should be made a lot easier to promote innovation, which will promote economic growth.
Attracting foreign direct investment is important. Currently, a foreigner has to invest at least half a million dollars in a US business and create 10 new permanent jobs to get permanent residency. Another pathway to citizenship is investing a million dollars in the US economy. If these figures are lowered to, say $100,000 for business investment and $500,000 investment anywhere in the country, we can attract much more foreign direct investment.
Lowering college fees is a great idea. Many Americans do not go to college simply because they cannot afford it while those who go to college normally graduate with huge student loan debts that make them an economic liability. Ideally, the government should reduce or subsidize college fees to make it more affordable for US citizens. This will go a long way in jump-starting economic growth and provide every industry with skilled manpower.
The most effective way of giving the US markets a boost is to lower taxes. Lowering taxes will bring back all the Fortunate 500 companies that have moved their manufacturing facilities overseas. Furthermore, lower taxes will bring back all the capital that companies are holding overseas for fear of being subjected to high tax rates.
Lowering taxes is seen as one of the best ways of jump-starting the American economy. Business owners will have the incentive to expand their businesses, hire more people and buy new equipment if they know that they can take more of their profits home. Today, the high tax rates are a major inhibitor to business growth.
New products are normally created through research and development. Every major company needs to have a research and development division to improve their products and introduce new product ranges. This will undoubtedly have a big impact on the economy. When consumers find a better product that is more efficient and performs better than what they have, they are more likely to spend, and this will boost our economic prospects.
There is a lot of coal in the United States, but government policy and concerns about climate change have made it impossible for this resource to be fully exploited. Coal plants have had to shut down and jobs lost. By putting in place measures to burn coal efficiently, we can exploit our God-given resources to the benefit of our nation. This has been done before with heating oil; it can also be done with coal. The key, however, is to formulate the right policies that will lead to development of highly-efficient and emission-free coal furnaces.
Simplifying regulations and removing red tape is also important. Too much regulation and bureaucracy is an economic deterrent. Setting up a business, getting a patent or obtaining FDA approval, among other things, should be made a lot easier to promote innovation, which will promote economic growth.
Attracting foreign direct investment is important. Currently, a foreigner has to invest at least half a million dollars in a US business and create 10 new permanent jobs to get permanent residency. Another pathway to citizenship is investing a million dollars in the US economy. If these figures are lowered to, say $100,000 for business investment and $500,000 investment anywhere in the country, we can attract much more foreign direct investment.
Lowering college fees is a great idea. Many Americans do not go to college simply because they cannot afford it while those who go to college normally graduate with huge student loan debts that make them an economic liability. Ideally, the government should reduce or subsidize college fees to make it more affordable for US citizens. This will go a long way in jump-starting economic growth and provide every industry with skilled manpower.
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