2012-04-08 17:55:55 Philanthropist Pitches Jobs Plan to Congress |
Transcript by http://www.newsy.com
BY ZACH TOOMBS
A Pennsylvania philanthropist says he has a plan to revitalize the nation's economy. And he's making his sales pitch to Congress. Fox News reports.
"His name is Gene Epstein, and his Hire Just One initiative has picked up [the] bipartisan support of two U.S. representatives. Now, Gene says his plan has many steps that he believes will ensure lasting employment."
Here's Epstein's plan:
1. Instead of sending an unemployment check directly to an unemployed person, the government sends the check to the person's new employer.
2. The employer pays their new employee at least twice as much as they received in their unemployment check.
3. Epstein believes expanding payrolls and employment will increase consumer confidence, restoring the economy's strength.
The Philadelphia Inquirer reports Epstein's persistence has paid off, writing:
"Through sheer will - i.e., nonstop nagging - the retired auto dealer persuaded area U.S. Reps. Allyson Y. Schwartz and Jim Gerlach to draft a bipartisan bill that is now under review by analysts at the House Ways and Means Committee. It should be noted that Epstein has never given either pol a penny. He's not even their constituent."
This isn't the first time Epstein has made headlines with his Hire Just One initiative. Before bringing the idea to Congress, he spent two years and $250,000 of his own money promoting his plan. In 2010, CBS's Katie Couric spoke with Epstein.
"His crusade started with a full-page ad in the Bucks County Courier Times ... Now, the Hire Just One campaign is on the move, with almost 200 businesses already on board."
Millionaire Epstein made his money as the owner of a car dealership and in real estate. He says, if the plan passes into law, it could create up to 4 million jobs within 120 days. But The Huffington Post says the idea relies heavily on estimates about consumer confidence — and it might not receive universal praise.
"Most labor and worker advocacy groups probably won't like Epstein's idea, as it directs unemployment money to businesses instead of holding it in reserve for workers."
The Huffington Post also notes the plan is similar to one proposed by President Barack Obama's administration last year. The Bridge to Work plan would have allowed employers to train people receiving unemployment checks without having to pay them. That plan, however, did not pass through Congress. |