In the last couple of years, economic growth has been averaging 2 percent. This is nothing considering that the Chinese economy has been growing by double digits over the last decade. This level of growth is too low to accommodate the growing number of college students who graduate every year as well as the ever-rising number of senior citizens in the country. There is need to brainstorm ideas to improve our economy.
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.
Research and development can help to boost economic growth. Technological advancements are always a welcome change in an open market. This is because consumers are always willing to spend on newer technologies that are more efficient.
Coal is a fossil fuel, which basically means that coal is not a clean energy source. It is important to note that there are huge coal fields in the country, but they cannot be exploited because this natural resource is considered harmful to the environment. There is, therefore, the need to find more efficient ways to burn coal to ensure it does not produce harmful gases. The technology exists, we just need someone to promote and commercialize it.
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 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 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.
Research and development can help to boost economic growth. Technological advancements are always a welcome change in an open market. This is because consumers are always willing to spend on newer technologies that are more efficient.
Coal is a fossil fuel, which basically means that coal is not a clean energy source. It is important to note that there are huge coal fields in the country, but they cannot be exploited because this natural resource is considered harmful to the environment. There is, therefore, the need to find more efficient ways to burn coal to ensure it does not produce harmful gases. The technology exists, we just need someone to promote and commercialize it.
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 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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