How I'd fix the economy, part #4,278: Were it up to me, I'd invite 25 million young, skilled, educated, high-earning immigrants to become immediate US citizens if they agreed to: (1) buy a house, (2) start a business employing at least 5 people and (3) pay slightly-higher than normal state and federal taxes for, say, 10 yrs.
Housing market: fixed. Job creation: fixed. Deficit: fixed.
Typically, Washington tries to solve the cost vise of Medicare and Social Security with benefits cuts (Republicans) and tax increases (Democrats.) That's the "...deck chairs on the Titanic" approach. Shouldn't it be obvious that the only permanent solution is demographic? I.e. more young taxpayers paying in as more Baby Boomers take benefits out?
And where do young taxpayers come from?
Well, you can grow them, procreating furiously and waiting 25 years for the results to mature (hopefully) into taxpaying wage earners and not "spongers off Mom and Dad." Or you can import them. Now. Today.
Did we choke off immigration at exactly the wrong time?
(Note: this is a variation of the current EB-5 program, created in 1990. It enables foreign investors who put $1 million into projects that create at least 10 jobs to receive green cards, provided the jobs remain after a two-year trial period. The program allows up to 10,000 green cards per year, a potential infusion of $5 billion to $10 billion in new capital to create jobs with no cost to taxpayers.)
Read more: Asian investors eye Oregon properties, green cards - Oregon Business http://www.oregonbusiness.com/articles/98-april-2011/5019-asian-investors-eye-oregon-properties-green-cards?start=1#ixzz1TbCTH8GZ)
Housing market: fixed. Job creation: fixed. Deficit: fixed.
Typically, Washington tries to solve the cost vise of Medicare and Social Security with benefits cuts (Republicans) and tax increases (Democrats.) That's the "...deck chairs on the Titanic" approach. Shouldn't it be obvious that the only permanent solution is demographic? I.e. more young taxpayers paying in as more Baby Boomers take benefits out?
And where do young taxpayers come from?
Well, you can grow them, procreating furiously and waiting 25 years for the results to mature (hopefully) into taxpaying wage earners and not "spongers off Mom and Dad." Or you can import them. Now. Today.
Did we choke off immigration at exactly the wrong time?
(Note: this is a variation of the current EB-5 program, created in 1990. It enables foreign investors who put $1 million into projects that create at least 10 jobs to receive green cards, provided the jobs remain after a two-year trial period. The program allows up to 10,000 green cards per year, a potential infusion of $5 billion to $10 billion in new capital to create jobs with no cost to taxpayers.)
Read more: Asian investors eye Oregon properties, green cards - Oregon Business http://www.oregonbusiness.com/articles/98-april-2011/5019-asian-investors-eye-oregon-properties-green-cards?start=1#ixzz1TbCTH8GZ)
Comments