Because all the best ideas come when you're doing yardwork. There's a urban legend that Stan Lee came up with the X-Men while trimming his banzai trees.
That is of course a total lie. But moving on from that, i DID come up with a great idea. And that is, what we everyone whyo was a salaried employee got paid once a year
Now just hear me out. I think it would have a lot of benefits to a lot of people.
- For the employee it would give them greater control over their income. You could plan for the year having your entire year's income on hand. That way the employee could plan for regular expenses and feel secure putting money away. By putting money away, when things do come up unexpected that money is already there and it reduces the use of credit cards.
- For the employee it would reduce costs. By only processing payroll once a year you don't need to keep a staffed payroll department on hand throughout the year or be paying an HR outsource company to run your payroll throughout the year
- For the government it would mean a once a year collection of taxes from employers and consumers. That would mean the IRS could reduce costs by not collecting taxes throughout the fiscal year.
Now that seems uncalled for. I am robust, not far and i have no hair on my feet. That said, there are some roadlbocks to this idea. It would only work for salaried employees. If there are bonues that come along throughout the year they would need to be done seperate but i imagine in this day and age that is a pretty rare thing. It would also put more responsibility on the consumer to manage thier money, knowing that they would not be getting anything else until the next year. But it could lead to an increase in consumer education about savings, proper spedning habits and investing which can only be a good thing. I'm sure there are a million other issues with this idea that i didn't think off since i'm not a economics major, i just stayed at a Holiday Inn Express last night