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Why The Republican Tax Plans Do Nothing To Help Genuine Small Businesses


#1

Why The Republican Tax Plans Do Nothing To Help Genuine Small Businesses

Hunter Blair

It is abundantly clear that the Republicans’ proposed cap on the taxation of pass-through taxes would disproportionately benefit the top 1 percent.

The total tax burden that worries small business owners also includes state and local taxes, but again the Republican tax proposal to lower top federal income tax rates on pass-through income does absolutely nothing to the state and local taxes that these owners face.

#2

A majority of small business owners have historically voted GOP despite the GOP always shafting them. Will they change this time around ?


#3

Taxes on businesses are out of my sphere of knowledge but, from what I’ve read, it seems like the vast majority of the latest tax scam goes, again, to the upper classes in another big transfer of wealth to the top. I’ve seen nothing to indicate that the lower rungs of the tax bracket gets much relief. Granted they don’t pay a very big portion of taxes, unless single, or filing separately when married. Payroll taxes as usual are the most regressive, aka social security and medicare. To top it off they’ll want to cut the benefits for the poor relying on SS and Medicare to live, those that have had taxes taken out of every check they earned even if federal tax wasn’t. I’m afraid though this will pass and they’ll all be sitting in their fancy clubs sipping Cristal Champagne, puffing Cubans, dipping lobster in caviar, laughing at the fools that believed them.