Man to give $1,000 for each jobless worker hired

[IDemo]

By PATRICK WALTERS
The Associated Press
updated 10/17/2010 6:17:31 PM ET 2010-10-17T22:17:31

NEWTOWN, Pa. — A suburban Philadelphia philanthropist who believes charity is a powerful incentive thinks he can help get Americans back to work one donation at a time.

Gene Epstein, 71, is promoting a $250,000 effort called Hire Just One, with plans to make $1,000 donations to charity in the name of businesses that hire an unemployed person and keep the worker on the payroll for at least six months.

Epstein, who amassed a personal fortune through car sales and real estate investments, has set aside his money for the first 250 hires — and thinks thousands more jobs could be created if others took on his idea, too.

"It's an encouragement to businesses to not wait," said Epstein, who thinks the incentive may be just enough to get small businesses over the hump to make a hire in tough economic times. "This becomes like an incredible stimulus program."

http://www.msnbc.msn.com/id/39711675/ns/us_news-giving/

[dkf]

1. How wonderful! I think it's a great idea.

[Skittles]

2. K&R for Gene

:thumbsup:

[TBF]

3. Now if Gene can think of that while he's just sitting around -

you'd think the White House could come up with some incentives to get folks back to work. :shrug:

[sandnsea]

6. Like $1,000 payroll tax credits

President Obama and Congress passed the HIRE Act or the Hiring Incentives to Restore Employment Act, in March of this year which provids tax benefits to employers who hire unemployed workers or "qualified" workers. Qualified individuals are those workers who did not work at least 40 hours in the past 60 days and are hired between February 3rd, 2010 and December 31st, 2010. The program intends to help businesses get hiring again in order to jump start the economy. The way it works is it exempts the employer's 6.2% share of social security taxes for qualified employee wages between March 17th, 2010 and December 31st, 2010. Furthermore, it provides up to $1000 credit or 6.2 of the employee wages (whichever is less) for companies that kept employees for at least 52 consecutive weeks (with at least the last 26 weeks being at least 80% of the wages for the first 26 weeks).

http://www.allbusiness.com/legal/tax-law-corporate-tax/15062615-1.html

[applegrove]

4. Definitely a democrat. I bet the real base of the GOP, some rich a**holes, are having

a discussion about how he betrayed them what with his empathy.

[FreakinDJ]

5. "Not to Wait" - what does he mean ?

Is this like the paradox of the Great Depression where the large corporations as the prices of over stock goods were falling, knew if they merely "Waited" for their needed purchases of goods that the prices would be "Cheaper" due to deflation

Only now instead of "Durable Goods" the commodity is "Labor"

Just saying a philanthropist who has made his fortune upon correctly reading the markets would say it this way

[madmax]

7. Those damn liberals!

This man is a mensch. He's not offering a handout but, a hand up and that's all most people want and need. Good Karma on you, Sir.