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Legislative text of the Stronger Way Act (link)

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    Here's a link to the text of the Stronger Way Act, co-sponsored by Democratic Senators Tammy Baldwin of Wisconsin and Cory Booker of New Jersey.

    This is a bill to cut taxes on lower income workers and create a nationwide 'transitional' job program for the unemployed. This bill has no revenue component and represents a fierce break with the Pay-Go nonsense that has dominated Democratic Congressional fiscal policy proposals for the last few decades.

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    If I read the bill correctly it addresses either the lack of training or the lack of incentive to be the reason for vacant jobs. I haven't noticed any shortages of products but I do see limited spending money. I would think a better bill would address the zero velocity of money securing trading. Equity used to be the factory, working labor force producing a product satisfying a demand. That has been replaced by negotiated equity securing artificial trades. Has anybody checked the capitalization of businesses against the value of trades. I don't know what it is but I bet the valuation exceeds the capitalization by an amount pointing toward a massive correction. A danger sign is new mortgage ads advertising relaxed credentials, possibility of no appraisal recalling pre 2008 bubble building to provide security for artificial trading. Without using the word they are inferring "NINJA"!
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    This bill lowers taxes on lower income workers in the vein of 'increasing incentives to work'. But the effect leaves more income in the pockets of lower income workers to spend. Lower income workers have the highest propensity to spend. So cutting their taxes increases total spending in the economy and that increases business activity requiring labor. The issue is not that people do not have proper incentives to work. The problem is that there are not enough reasonable job opportunities for everyone who is able and willing to work, which this bill addresses through the creation of 'transition' jobs to be defined later by the Department of Labor.