Bail out bill..
Posted on Wednesday, February 11th, 2009 at 9:32 am
It is not my intention to constantly weigh in on political issues with our blog, but as a founder and the CEO of TSEG, I feel like it is the responsibility of all small business owners to tell our side of the story.
Everything I have read states that the stimulus package will operate using the following equation: for every 1 job that is created, it will cost $300,000 in taxpayer money. This is a staggering number. If we were to cut payroll taxes, we (TSEG) would be able to create 2-3 additional full-time jobs and 2-3 part-time jobs immediately for far less than the $300,000. Not only this have a direct impact on deserving individuals gaining employment, but we would then be able to create an even better result for our clientele, which would encourage the client to spend more dollars with us, thus allowing us to hire more people, etc… It seems like a win-win.
The key point to focus in on is the immediate impact. We can hire these folks IMMEDIATELY. These new hires would then have the descretionary income to spend in our economy, which would stimulate additional jobs. The cycle would keep repeating. I imagine the 300k that the gov’t spends will not have an IMMEDIATE impact, as nothing happens quickly in a bureacratic situation. Now, I realize 4-6 jobs is not a big deal overall. However, it is a big deal for those individuals, and if a million companies had this additional working capital, we would be talking about 3 million jobs overnight…not too bad. I encourage your thoughts and comments.
CEO – TSEG