Have you ever tried to hire your first employee legally? What a frickin hassle.
You have to take care of withholding for state and federal payroll and income taxes, get workers
compensation insurance (and how hard to you think that is if you have only one employee?), post
all kinds of notices in your place of work and then if things go bad you have all kinds of penalties
depending on what state you are in for laying off or firing the employee.
If we want more folks working, lets make it far easier for entrepreneurs to hire their first employee (full or part-time). Once you have a 1,000 employees the marginal cost of hiring one more is not big deal but the real growth in an economy usually comes from the small business not the likes of Ford, Citibank or AIG.
An interesting new college model - Minerva
10 years ago
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