Another idea to promote jobs
To the editor:
In his Feb. 9 guest column, “Bipartisanship would benefit Eastern Ohioans,” U.S. Sen, Sherrod Brown, D-Ohio, offers three ideas to “grow the economy.” With the labor force participation rate at a 30-year low, he proposes that we destroy jobs for the unskilled by raising the minimum wage and pay people not to work by expanding unemployment compensation. He adds a job training program plan to add to the 50 or so existing job training plans run currently by the federal government.
I would like to add a fourth idea. Our corporate income tax is the highest among all OECD countries. Lowering that rate to at least the average of other countries would do much to attract capital to the nation and expand manufacturing as well as service jobs. The high corporate tax rate is essentially paid by U. S. workers in the form of lost job opportunities as firms seek higher returns in lower tax countries.
I am afraid that such an idea has never occurred to our august senator who obviously has never come within an arm’s length of the open pages of an economics text book.