We need to grow our U.S economy through creative, bipartisan ideas. Here are a couple of examples!
Its very unfortunate to see the United States so divided. The statistics show that there is a continues progression with both parties becoming more and more divided and separate from each-other. It seems to have become an ‘Us verses them” mentality. As a teenager, I want to see our country become closer together, not farther apart. Though I clearly have my viewpoints as a democrat, I do believe that we are all Americans, and that despite the different viewpoints among-st the different parties, they both have good ideas. Besides, there isn’t enough ideas being considered that includes both sides ideas.
For example, considering an idea with how we can deal with the national debt, while increasing public assistance funding, since they are both important. Again both sides have important points we should all consider, even though I don’t agree with all of them! Not everything is black and white, and we want laws to last for the long term, not just be repealed every time someone new is elected. Below I have come up with some bipartisan ideas that both republicans and democrats can hopefully consider, and maybe one day use to benefit our economy for the better, and help my generations future!
FIRST IDEA: Decreasing the corporate tax rate, while closing up their tax loopholes.
The US has the highest corporate tax rate among-st developed nations, but many large corporations aren’t paying enough through dedications and loopholes. Some monopolies aren’t even paying anything at all! This is a problem overall for our economy, and for both parties. Its unfair that some corporations may pay a descent amount, while others can get away with paying virtually nothing, because of shipping their money somewhere outside of the country! How would you like to be the corporation that is paying its fair share, while your revile is paying nothing? Though there should be some flexibility on the tax, such as a companies size, revenue, etc, there should be a more solid tax that all corporations pay, (especially monopolies), period! However, in order to do this, we should also decreasing the corporate tax a bit as a compromise. Just because the corporate tax rate is very high, doesn’t necessary make them pay more, in fact, increasing it even farther may just worsen things. So to simplify, end corporate tax loopholes such as shipping money to some island to avoid taxes, unnecessary deductions, etc. But at the same time, compromise by decreasing the overall cooperate tax rate, but still make all of this apply to all corporations. We can all agree the tax code needs to be simplified to some extent.
SECOND IDEA: Gradually increase the Federal minimum wage from $7.25 to $15 an hour, but also make tax cuts to small businesses to make up for the change.
For the Americans whom make, or make close to the Federal minimum wage of just 7.25 an hour, it is very difficult to live off of that. There are many studies that claim its not even enough to support yourself on such a small wage, especially if you are supporting kids/ a spouse. However, it is true that an increase in minimum wage could hit small businesses hard, considering that we need the businesses to stay profitable, and want to hire workers. Plus, it wouldent be fair considering the idea that some small businesses are barely making enough in money, for themselves. What I suggest we should do is increase the minimum wage 7-10 percent a year, and for a long enough time until it reaches $15 an hour. However, this should occur while we at the same time with lowering taxes for small businesses. There should be a strong coloration between the raising of the minimum wage, and the amount deducted/ lowered for small businesses. This could all be a win-win situation, getting people out of poverty to live better lives, pay more in taxes etc. While at the same time, small businesses are able to afford to do this, and maybe even have more productive and happier workers.
EconTeen 