05/21/2013– Jacob Cooper to Discuss How to Stimulate the Job Market While...

On Uncommon Wealth tomorrow morning at 10 PST (Saturday, April 28th) on FM News and Talk 95.7 and AM 600 KOGO, radio host Jacob Cooper, CFP® will discuss how to stimulate the job market while decreasing the deficit.

There are often two thoughts on creating jobs and decreasing the national deficit, currently over 15.6 trillion (with a “T”). On average since September 2007, the national debt has increased by 3.96 billion per day. So each citizen owes just under $50,000 of the national debt. Is this a good discussion to be having? Without question.

COMMENTS

Casey Mullighan, a Professor of Economics from the University of Chicago, observes that while raising taxes on high-income earners and cutting subsidies granted to low-income earners both can reduce the deficit, the former will hurt jobs and the latter will spur job growth. If more subsidies and welfare benefits are added to Americans as a whole, and higher incomes are taxed (or punished) increasingly, the gap between what gainful employment can provide and what the government provides through subsidies narrows. This narrowing of the gap disincentives people to find employment as a whole and remain on the governments feeding tube.

Further, when you cut lower income earner’s taxes and provide more subsidies, you both add to the deficit and increase unemployment. This is exactly what the American Reinvestment and Recovery Act of 2009 did.

Tune in to FM 95.7 or AM 600 KOGO in Southern California tomorrow morning at 10 PST for the full show. Or listen live anywhere in the world on kogo.com or with the iHeartRadio app. Uncommon Wealth is a weekly financial talk show hosted by CERTIFIED FINANCIAL PLANNER™ Jacob Cooper, who also serves as the CEO of Total Wealth Management, Inc, a national private wealth management firm headquartered in San Diego, CA. Uncommon Wealth has been running for over 3 ½ years and has become one of the most popular financial talk shows in the region.