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 best way to boost the United States economy is to lower taxes. Many companies have been shipping manufacturing jobs overseas because of the high corporate tax rate charged in the United States. Many others have held billions of dollars in cash reserves overseas because of the fear of being subjected to exorbitant tax rates when bringing the funds back to the country.
Low tax rates would be a great incentive to small business owners and large corporations to open new stores and offices, and this will create employment opportunities for the youth. When people know that taxes will not take a huge chunk of their earnings, they have an incentive to invest. Furthermore, the number of tax evasion incidences will also reduce.
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.
Making coal clean is something that can benefit the entire US economy. Instead of banning the use of coal, which has led to job losses and closure of plants. Technology should be harnessed to make coal cleaner. The same has already been done with heating oil, as new heating oil furnaces release almost negligible quantities of greenhouse gasses into the atmosphere. This technology will ensure that the vast coal fields in America give the energy industry and jobs market a shot in the arm.
Removing red tape and simplifying regulation are two strategies that will boost economic prospects of the country. Imagine just how difficult it is for companies to get an FDA approval or secure their patent. If these are made easy, economic growth will soon follow. Removing roadblocks and bureaucracy is the best way to go forward.
Attracting foreign capital is not easy. It is also not easy to get permanent residency in the United States. That is why there is a law allowing foreigners to invest $500,000 in the country and create 10 new jobs to get permanent residency. If this amount was reduced to $250,000, more and more investors would be willing to seek citizenship through this avenue.
High college fees is a deterrent to economic growth. When young men and women cannot afford to go to college, they become a liability as far as economic growth is concerned. It is important to note that most Americans do not go to college because they cannot afford college fees, not because they do not qualify. By lowering or subsidizing college fees for our young men and women, we can provide industries with skilled labor and this will have an impact on economic growth.
The best way to boost the United States economy is to lower taxes. Many companies have been shipping manufacturing jobs overseas because of the high corporate tax rate charged in the United States. Many others have held billions of dollars in cash reserves overseas because of the fear of being subjected to exorbitant tax rates when bringing the funds back to the country.
Low tax rates would be a great incentive to small business owners and large corporations to open new stores and offices, and this will create employment opportunities for the youth. When people know that taxes will not take a huge chunk of their earnings, they have an incentive to invest. Furthermore, the number of tax evasion incidences will also reduce.
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.
Making coal clean is something that can benefit the entire US economy. Instead of banning the use of coal, which has led to job losses and closure of plants. Technology should be harnessed to make coal cleaner. The same has already been done with heating oil, as new heating oil furnaces release almost negligible quantities of greenhouse gasses into the atmosphere. This technology will ensure that the vast coal fields in America give the energy industry and jobs market a shot in the arm.
Removing red tape and simplifying regulation are two strategies that will boost economic prospects of the country. Imagine just how difficult it is for companies to get an FDA approval or secure their patent. If these are made easy, economic growth will soon follow. Removing roadblocks and bureaucracy is the best way to go forward.
Attracting foreign capital is not easy. It is also not easy to get permanent residency in the United States. That is why there is a law allowing foreigners to invest $500,000 in the country and create 10 new jobs to get permanent residency. If this amount was reduced to $250,000, more and more investors would be willing to seek citizenship through this avenue.
High college fees is a deterrent to economic growth. When young men and women cannot afford to go to college, they become a liability as far as economic growth is concerned. It is important to note that most Americans do not go to college because they cannot afford college fees, not because they do not qualify. By lowering or subsidizing college fees for our young men and women, we can provide industries with skilled labor and this will have an impact on economic growth.
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