A semi-radical suggestion to improve the economy.
Choose as small a geographic subdivision as is practical, like a voting precinct. Any precinct that reports an unemployment rate at some multiple of the national average (1.5 times, twice?) is declared an "opportunity zone". In an opportunity zone employers are exempt from the employer contribution to payroll taxes for ten years and then they are phased back in at 20% per year for five years. If businesses are considering opening a new office or plant, that would be the place to do it. All of the business in the area and those that move in benefit. The economy in that tiny area booms for a decade or more and the returns to the new normal. Every year new stats come out and new opportunity zones are created and new boom-lets begin.
Submitted August 31, 2019 at 08:27AM by mwbox
via reddit https://www.reddit.com/r/economy/comments/cxvg5q/a_semiradical_suggestion_to_improve_the_economy/?utm_source=ifttt