It all takes a look at the recent statistic, which shows that the youth unemployment is currently at 20 %. It might be a small percentage, but for a nation with opportunities in addition to high-standard life – this is a problem. Therefore I am in favour of a reduction of payroll tax for people under 25.
Currently 39 % of employers will tend to hire people who are older and experienced than a young person with a required diploma – this is due to the rising payroll tax. By reducing the payroll tax the companies and private businesses will be willing to recruit …show more content…
By retaining people, the business owner will have the ability of expanding their company and creating even more prospects your adolescents on the job market. We live in a world where we are depended by small services business such as the telemarketer, which provide us with entrainment. If the small businesses file in for bankruptcy, there will be a lost for the future generations. There will be lost for our economy.
Admittedly payroll taxes are a necessity for a functional health care and school system, however one must bear in mind that are also other tax income more than payroll tax. If the payroll tax is reduced then another tax income has to rise in order to even the differences. There will still be taxes that fund health care and education, since these are fundamental sectors in a society. On the hand, tax deduction can help the economic growth in addition to spending the government’s money on right things.
In conclusion, by reducing the payroll tax for people under 25, it will create new prospects on job market since the employers are willing to recruit youths. It will also support small businesses that are in need of workforce and enable them to develop their career. Moreover, a small tax reduction will not hurt the society, but help the economic growth and may reconsider the government’s budget. The youths are our future. The youths are the builders of our