Of all the many issues that currently divide our nation, the one thing that pretty much everyone agrees upon right now is that the economy and job market are okay, but could be doing a whole lot better.
Of course acknowledging that problem and actually correcting it are completely different things, but it's something Wall Street veteran Hugh Johnson of HJ Advisors thinks could be drastically improved with a few key steps.
As we discuss in the attached video, Johnson has put together a wish list of 3 keys steps that he says would definitely get things growing again.
1) Tax Cuts! For Individuals and Corporations
That's right, people, free money. Johnson says good old fashioned tax cuts (or "tax reform" if you prefer) for individuals and corporations will actually result in higher overall tax collections.
"Maybe I've got to just cross my fingers and pray for this one," he says of the obvious uphill fight this action would face in Washigton, "but broadening the tax base and lowering tax rates, I think is going to generate more revenues."
The Johnson plan, however, has a catch, as it is not designed to be a windfall for the IRS.
"You've got to re-use those revenues for infrastructure spending that will really stimulate this economy," he says, adding that we need to really put together tax reform, increased revenues, and infrastructure spending for it to have the desired impact.Read More »from 3 Things We Could Do Right Now to Create Jobs, Spur Economy