As the debate in Washington pivots this week from deficit reduction to job creation, progressives and conservatives will be vying to convince the American people that they have the best plan to get America working again. But any jobs plan will fall flat if it doesn’t lay out a strategy for investing in innovation.
Conservative proposals largely echo now-defunct Reagan-era thinking that tax cuts alone can spur the private sector to create jobs. Yet effective corporate tax rates are lower today than they were under President Reagan and are certainly much lower than many of our competitor nations. The same is true of the effective tax rate for top-, middle-, and low-income families. Tax cuts neither created the jobs of the past nor will they create the jobs of the future. Investing in innovation will.
To read the full, original article click on this link: Creating Jobs by Investing in Innovation
Author:Sean Pool
