Democrat will kill small business with a $250 billion tax
donsurber.blogspot.com
 In 2010, Democrats alone passed Obamacare, which was a huge subsidy for the insurance business and a hefty burden on small businesses who suddenly had to provide health insurance for all employees regardless of whether they already had it.
Then Democrats pushed for a $15 an hour wage, which Walmart could afford but Sam Walton's market never could. Walmart came up with self-checkout. Sam couldn't.
Then Democrats in California passed an anti-gig law that made it harder for small businesses to outsource some services.
In 2020, Democrats did a double-whammy on small businesses. First, they shut down the economy to stop a virus that 99% of people survive.
Then they rioted in city after city. Rioters seldom were arrested and charged but a teenage boy who shot three rioters in defense (killing two) was forced to endure one of those Trials of the Century we keep having.
Also, Democrat prosecutors stopped prosecuting shoplifting and even some violent crimes. Organized thieves began looting stores openly. If a clerk confronts a crook, he can get stabbed. And if he defends himself, he can expect a murder charge in New York City.
Big business can deal with these changes. In fact, most Democrat business laws now serve as a barrier to competition for the established multinational companies.
But small businesses struggle and survive this onslaught of unwarranted attacks by Democrats who absolutely hat the thought that anyone should be self-reliant and not dependent on the government or a big corporation because Democrats control corporate America and have for some time. The Chamber of Commerce is an arm of the Democrat Party.
The latest attack on small business is a quarter-trillion-dollar tax.
Americans for Tax Reform reported, "Senate Democrats Pushing $250 Billion Small Business Tax Hike."
Its story said, "Senate Democrats are set to introduce legislation that contains a $252 billion tax increase on small businesses, according to news reports. With the economy struggling and inflation out of control, now is the worst time to increase taxes on businesses.
"This tax increase would be included in the Democrat’s trillion-dollar tax and spend proposal that is being negotiated by Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-W.Va.).
"Democrats are proposing to expand the 3.8% net investment income tax (NIIT) which was created under Obamacare. Currently, the tax is imposed on individuals’ passive business income, including interest, dividends, annuities, and royalties. It is not imposed on wage income or non-passive business income. It applies to taxpayers with modified adjusted gross income (MAGI) of $250,000 for married filers or $200,000 for single households.
"Democrats want to expand the 3.8% NIIT so that it also applies to non-passive business income. This would apply to taxpayers filing as individuals making more than $400,000 and joint filers making more than $500,000.
"While the Left argues this would close a loophole, it would actually be a substantive policy change that would increase taxes on small businesses across the country. When Congressional Democrats created this tax in 2010, they deliberately had it apply to passive income, not active business income because of the concern that it would raise taxes on small businesses."
Remember, folks, every loophole in a law was put in there by a congressman.
And remember the greatest power congressmen have is the power to exempt people from taxation. That is where the best campaign donations are.
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