Biden Gives Small Business Owners a Kick in the Wallet
Small businesses are the backbone of America. They offer a spark of light at the end of a dark tunnel from all of the large corporations. It’s the entrepreneurial spirit at its best.
Biden, however, would love nothing more than to put out that light. He wants to see Corporate America win over so that he can feed his pockets. He believes that raising the taxes on small businesses who are barely making enough with their small profits will be the way to fix the economy.
According to Biden, he’s doing this so that small businesses can pay their “fair share.” However, his math doesn’t add up.
In an interview with David Muir of ABC, Biden promised, “I will raise taxes for anybody making over $400,000.” The problem with that is that there are a number of small businesses that bring in that kind of money. It’s not hard to do. “It’s about time they start paying a fair share of the economic responsibility we have. The very wealthy should pay a fair share — corporations should pay a fair share.”
Some of the smaller businesses are hardly the corporations that are getting away with paying no taxes. Biden acknowledges that there are businesses “close to a trillion dollars and pay no tax at all.”
Well, that’s great that he acknowledges that, but why pick on the entrepreneurs that aren’t making money off the system? They’re already paying their taxes. Why make them pay more?
Clearly, Biden has already been pulled to the dark side by the far left. The “progressives” want to get rid of capitalism entirely. With such a tax hike, it would raise tax revenue by $3.2 trillion. While that money could do great things, stressing the entrepreneurs out to the point that they have to close their doors isn’t the way to do it.
Target those making close to a trillion dollars. Don’t target those bringing in $400,000. Biden may not realize it, but there’s a significant gap between those numbers – and until he acknowledges that, the small businesses are certainly not paying their “fair share.”
Biden thinks he’s making sense when he says, “It’s smart to tax businesses that in fact are making excessive amounts of money and paying no taxes.” However, as soon as he throws out the $400,000 number, he goes back to making no sense at all.
Small businesses account for approximately 44 percent of the economy. By taxing them more than what they already pay, it could mean more stores having to close – and that means putting more people into the unemployment line. As for all of those tax dollars he’s counting, they’ll be gone when the small businesses have to close. After all, businesses that go under don’t pay taxes.
Biden could end up sending the economy into a complete and udder downward spiral, especially coming out of the pandemic. He’s being strung along by the progressives who don’t understand how capitalism works. He’s being strung along by Dems who have been fiscally irresponsible for decades.
Small businesses notoriously have to take the brunt of the taxes because they don’t have accountants and lawyers getting creative with their numbers. The corporations raking in millions that don’t pay any taxes are the ones that Biden needs to target. That’s what would be “fair.” No small business owner is making six and seven digits. Meanwhile, Jeff Bezos is estimated to make around $2489 per second thanks to his shares in Amazon. Let that set in for a moment. Biden is ready to bankrupt half of America just so that the corporations making close to a trillion can pay some more in taxes.
Biden doesn’t understand how to boost the economy or even how to do basic math. Yet, somehow, he wants the small business owners around the country to vote for him in November. That’s probably not going to happen, nor should it.