Real Economy Boost - American Solutions - Figure Out How Much You Would Get

Real Economy Boost - American Solutions - Figure Out How Much You Would Get

 

 

 

Back in December, my husband and I were blessed to be able to attend the Real Jobs Summit held by Newt Gingrich and American Solutions in Cincinnati.

In case you missed what I reported about it, here's the link: 

Real Jobs Summit

One of the suggestions for helping the economy and to help create jobs was this:

An immediate two-year 50% reduction in payroll tax – for employees and employers. (Here the former Speaker asked what percentage of the government we consider to be waste – and we immediately agreed on 30%.  Because the government will be simultaneously decreasing spending and becoming more effective and efficient, reducing taxes for two years will not hurt.  But it will help all Americans and businesses alike.)

Now there is a calculator on the American Solutions web site so that everyone can figure out what they would save with a 50% reduction in payroll taxes..

Here's what is says on the web site:

 

In this economy, many people unfortunately won't be getting raises. But our Jobs First plan would help to give every working American a take home pay raise, immediately.

The first step of our Jobs First plan would be to reset the TARP and stimulus money that is currently being wasted, and instead use it to cut the payroll tax in half for 2 years.

We believe that rather than funneling taxpayer dollars to politicians by the trillions and allowing them to choose how to use it, we should instead allow individuals and businesses to keep more of the money that they make.

To see how this proposal would affect your own budget, you can use our calculator below.

Payroll Tax Calculator: How Much Would You Save?

 

(Note:  There is also a calculator for businesses to see how much they can save.)

 

On that same page, there is a petition to sign.  Here's what it says:

 

With our nation's unemployment rate at 10.2% percent, America's number one priority is job creation. We therefore petition Congress to oppose all job killing tax increases (especially in health and energy), and instead enact policies now that will help create new jobs in the private sector, starting with a two year fifty percent cut in the payroll tax so workers and small businesses can keep more of their own money to create jobs.

 

For someone making $50,000 here is what as listed as the savings if there was a 50% reduction in payroll taxes:

 

Monthly
Amount of payroll taxes you currently pay each month: $318.75
Extra monthly take home pay: $159.38

Annual
Amount of payroll taxes you currently pay each year: $3,825.00

Extra annual take home pay: $1,912.50

 

If you could use the extra money, sign the petition.

 

If you are for small businesses being able to grow and create jobs (keeping in mind that the majority of new jobs being created are in small businesses), sign the petition.

 

 

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What could you do with that extra money?