Quote Originally Posted by TheRealKW View Post
Quote Originally Posted by Samuel View Post
It's just common sense, ant: Pretend that you are a business owner whose business is doing great with a big company and many employees. Then, a new president comes in and increases regulations and taxes on your business which affects your bottom line. Will you continue to hire new employees like you did before the new president came in with his policies or think twice about doing that?
*sigh*
So, King Willy: Do you think that small businesses — which make of 99% of all U.S. businesses — should be hit with higher taxes and regulations while just emerging from the pandemic?



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Biden taxes target big companies, so why is small business worried?





Biden taxes target big companies, so why is small business worried?

In a recent analysis Nitti wrote for Forbes, he concluded that for businesses currently set up as C corporations — and more went to this structure after the 2017 tax law changes — when coupled with the proposed increase in the corporate rate from 21% to 28%, the combined top rate on shareholders would rise from approximately 40% to near 60%.

“If I’m a business owner, I’m walking away from this week with two thoughts: I don’t know if my business is going to be in the right structure, and if I don’t plan on continuing to hold the business for the long-term, I better expedite my exit strategy if capital gains is truly going to double in the future,” Nitti said.

Roughly 75% of the small business community feels that the government prioritizes large corporations over small ones, according to the Ewing Marion Kauffman Foundation, and many support more taxation of large corporations. The Biden administration said there will be protections for farms and family-owned businesses passing between generations, but experts say it remains unclear what specific policy details will protect these entities.

“Tax policy is the biggest negative from my perspective. Small to mid-sized businesses want to operate in a policy environment of stability,” Kerrigan said. “The back and forth over tax rates makes it difficult to plan.”