In this right-to-life column, Philip Kerpen advises conservatives on how to start using “The Wealth Effect.”
“The Wealth Effect”
by Jason DeParle
The New York Times, May 15, 2021, 822-A section
“Why build a new business, building for somebody else, and increase your cost of operation by 20 percent? Unless you can afford to put a fast-charge battery in every square foot and give your worker a smart phone, most businesses will be as efficient as the old milk bottle and save energy by figuring out other ways to generate electricity.”
– Jason DeParle
Recent work by a team at MIT begins to address that problem in part by putting sensors on equipment that gathers energy in a building, such as the building’s lights and fans. Instead of installing new technology, the sensors use information gathered by the electricians as they run the system to save energy.
The scientists found the changes were so profound and the economic savings were so great that the “simple intervention makes financial sense.”
The people in the paper were smart, but it looks like the lawyers and financiers in the story were the brains behind the scheme.
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If America is serious about encouraging entrepreneurs and innovators to build startups that create more jobs, we need to take a few different approaches. First, we need policies to incentivize clean energy, such as tax credits and mandatory renewable targets.
More broadly, we need to create a tax incentive for young businesses to start. Lower tax rates for young entrepreneurs could encourage them to grow and create jobs even if they won’t be household names.
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Second, conservative policy should encourage small business by giving incentives to entrepreneurs that invest in their businesses — for example, by eliminating regulation and reducing income taxes. If Republicans repeal Obamacare, they should cut taxes on individuals making less than $50,000 and businesses making less than $50,000 by repealing the Obamacare Employer Mandate tax.
This is a good place to start.
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