Business / Government Watch

8.3 Million Main Street Businesses Will Be Devastated by Democrats’ Tax Hikes

businesses

More than 8.4 million Main Street businesses would be hit with higher taxes under Democrats’ “Mom & Pop Paycut.” Democrats’ plan to expand the small business surtax, known as the Net Investment Income Tax (NIIT), adds $262 billion in new taxes on America’s family owned businesses that are already facing a looming recession and severe labor shortages.

These 8.4 million S-Corps and partnerships, which make up sixty-four percent of small businesses, employ nearly half of American workers and would be subject to this new tax under Democrats’ plan.

Ways and Means Member Rep. Vern Buchanan (R-FL) highlightednew chart from the U.S. Senate Committee on Small Business and Entrepreneurship showing a state-by-state breakdown with how many businesses would be affected by the “Mom & Pop Paycut.”

READ: “Mom & Pop Paycut” is a Small Business Surtax on America’s Small Business Owners


Reprinted with Permission from - The United States House Committee on Ways and Means by - J.P. Freire

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Grace
3 months ago

The Manchin, Biden Inflation Relief Bill will be a mill-stone around their necks. Manchin will rue the day he threw his constituents under the bus for a pipe line that will never see the light of day. Biden? Well he just hates everyone of us and spends whatever cognoscenti time he has left to prove it. A pox on both of them.

Becky
4 months ago

Do the demonrats care??
Bwaaahahahaha. Not in the least.

Dave
4 months ago
Reply to  Becky

Do the demonrats care??

Bwaaahahahaha. Not in the least.

…and that’s being charitable…

Tom
4 months ago

Please note! When we assume the traitors want to bankrupt us . Not so! It is only the beginning such as total indoctrination of our schools,eliminate church and worship replaced by the state, control of energy{electric cars},, food rations, labor camps but really death centers and the lists goes on. Adolph Hiter pulled the same game and destroyed the country,economy. and the youth of a generation. .So I challenge you! Novembers vote May change the name on the door but how do we get change and keep it? Met a Jewish. Woman that spoke of pictures of Jewish bodies just before the furnace step which they use to remind people that it can happen and again. Do we need this to cause patriots to step forward?. If we get the vote in November. How do we KEEP change? In 1962 the Soviet Premier shouted at a U N conference” We will defeat you from within” and he was ignored..This man’s drive and knowledge lead to a Soviet victory at Stalingrad which was considered lost, Anything look familiar. We can’t go to sleep while they take over and destroy us We need a leaders direction and future goals to reverse this mess. We need walls to remove our traitors once and for all. I’m an old man hope to see America in good hands before I die. The reason for the Surtax is to destroy the middle class and only rich and poor existIf we want to work long hours for food only just do nothing. May God bless America and our constitution.

Tim Toroian
4 months ago

They are trying to ruin businesses so the government can control the Mom and Pop sector making those people more dependent on the government.

mjl
4 months ago

7/22/2022
AMAC READERS MEMBERS:
JOIN ME IN REQUESTING THAT PAUL E BE ADDED TO AMAC ACTION EDITORIAL STAFF…TO REALLY PROVE THEIR UNBIAS ORGANIZATION…PROOF OF HIS COMMON SENSE APPROACH ..HIS COMMENTS ON TERM LIMITS, CHIP BILL BEING PUSHED AND WHAT IT REALLY COVERS…PAUL APPARENTLY READS THOSE PENDING BILLS, SOMETHING OUR POLITICIANS CAN’T SEEM TO DO.

mjl
4 months ago

COMMENT TO PAUL E
If possible, I think you should run for public office…we need people who can still use and believe in common sense. I look forward to your comments and explanations of the true intent concerning our current political mess….your straight forward explanation of the action by the present administration and politicians on both sides are so helpful in understanding what is really happening …a really good example of the chip legislation being pushed through. I HEREBY CHALLENGE AMAC ACTION TO ADD YOU TO THEIR EDITORIAL STAFF TO TELL US WHAT IS REALLY HAPPENING!!!!

DonS
4 months ago
Reply to  mjl

I agree! Great suggestion!

Judy K.
4 months ago
Reply to  mjl

I would like to see Paul E. added to AMAC’s editorial staff as well. A few months ago I commented to Paul E. regarding exactly your suggestion about him running for government office, but I mentioned that it seemed he may have already been that route. He is very blessed with God’s gift of intelligence as well as moral integrity.
I hope I’m not overstepping when I say that I think if Paul hasn’t been in politics yet, and that he is too smart to want to pursue it.
It is highly probable, in my opinion, he’s already been there, done that, and that is why he’s so knowledgeable about politics. Of course, it’s just my opinion; but I would like to see him join AMAC’s editorial board.

Morbious
4 months ago
Reply to  mjl

Im going to go out on a limb and suggest paule would most appreciate us to emulate him by filling out our knowledge base so we can discuss any current issue intelligently and then to seek deeper engagement with people in our social circle especially young people. However, should he agree with your suggestion id be all for it.

PaulE
4 months ago
Reply to  Morbious

Yes Morbious, everyone needs to educate themselves so they can intelligently discuss and hopefully educate others about all the issues that are impacting our country. There certainly are enough issues these days since the Democrats have made such a hash of things in the last 18 months.

The time for waiting for “someone else” to do the heavy lifting for us ended decades ago and the inaction of so many in our age bracket has cost this country greatly. Especially the young people that have been so badly miseducated by a public education system focused more on political indoctrination than teaching them how to think and reason for themselves.

Look at the real knowledge level of most people 30 and under today. The public education system has completely failed them and many have been conditioned to think society owes them a high-end lifestyle simply for existing. They’re angry because all they have been conditioned to envy everyone else and they feel helpless all the time. They lack the mental tools and knowledge to make something of their lives beyond expecting the government to hand them everything.

PaulE
4 months ago
Reply to  mjl

Hi mjl,

Thanks, but I have zero interest for running for any sort of public office. I spent a few years of my overall career working for the Federal Reserve and that provided me with more than enough insight on how the overall federal government functions or should I say doesn’t function well at all. Amazingly, the federal government is more messed up than most state governments. To say the processes and methodologies of the federal government needs a top to bottom overhaul to make it more efficient, cost effective and generally more responsive to the real needs of American citizens overall, beyond being a glorified ATM for every single special interest group, wouldn’t be an understatement. That kind of massive change can only be accomplished from the top, the Presidency with a strong and willing Congress backing him or her up. Even then the system will resist every single change with everything they’ve got.

I’m NOT a politician. I’m way too honest to obfuscate to people constantly and I don’t believe in deflecting from tallking about the real issues that are before us. So I’m obviously NOT a good fit for any elected role. Thanks anyway.

Max
4 months ago
Reply to  PaulE

Thanks for your honesty and convictions. Just keep up with what you are doing through your comments and keep the readers on their toes.

John Carlson
4 months ago

Dave, click on the new chart line

John Carlson
4 months ago

you click on the new chart line

Morbious
4 months ago

Lenin and Stalin had absolute power so they deported and starved their middle class. Back then that meant anyone with a cow, a couple of pigs and the forage to feed them. Arent we lucky that our communists only want to bankrupt us?

PaulE
4 months ago
Reply to  Morbious

Bankrupting us is only the start. They have much larger plans for humanity that just our impoverishment.

Boz
4 months ago

Burn Down Better?

Stephen Russell
4 months ago

No business= No taxes=No services

anna hubert
4 months ago

the aim of the game is to destroy the last bit of independence

Hal
4 months ago

Elections do have consequences … and DemocRat rigged elections likely have devastating consequences! What is it going to take to get the voting system fixed and un-riggable???

PaulE
4 months ago
Reply to  Hal

The Democrats have no interest in fixing a system they broke that benefits them at election time. As for most Republicans in Washington and in certain states, they don’t want to bring the subject up because then they would have to admit there was substantial fraud in the 2020 election and they just sat there denying all the evidence.

Folks like McConnell and McCarthy wanted Trump gone. Trump was too much of a threat to them and their side deals. Even if that meant allowing the Democrats to steal the Presidential election. So they are certainly NOT going to push for any sort of action from the federal level. It appears the Democrats have been allowed to create a “new normal” for how elections are done in the United States.

Hal
4 months ago
Reply to  PaulE

Your post seems to be a real justification for Constitutional term limits for Congressperson. I do believe the heat must be put on the Congress to do this (exempting present members, of course). Without term limits for Congress members, it will only get worse.

PaulE
4 months ago
Reply to  Hal

Terms limits wouldn’t impact the Democrats, as no one you replace the current crop of politicians with on that side of the aisle would ever favor election reform to reduce or eliminate cheating. They ALL are in favor of whatever it takes to “win” (tilt the election in their favor) elections. So swapping out Democrat A with Democrat B after say 2 terms would change nothing. They ALL support the principle of “whatever it takes to win”.

On the Republican side, there is nothing stopping the current voters in Kentucky (McConnell) and California (McCarthy) from voting either of these guys out and replacing them with someone better. It’s not like either McConnell or McCarthy have ever been consistent producers of only good or worthwhile legislation or done everything in their power to prevent wasteful spend and bloated bills from being passed. Sure in theory you can automatically term limit out a Senator after say 2 terms, but that doesn’t change the underlying problem that the establishment wing of politicians in the Republican Party isn’t in favor of a upsetting the status quo of Washington. That means “going along to get along”, which is why they all hated Trump who wanted to clean up a lot of the embedded corruption that is Washington, D.C.. That mentality within most of the politicians in establishment wing of the Republican Party is also why we consistently see 16 to 20 Republican Senators almost constantly “walking across the aisle” to help Democrats pass huge, wasteful or socialist policies. Automatically swapping bodies on a regular basis wouldn’t address the real underlying issue. The latest example of “walking across the aisle” was just yesterday where 16 Republican Senators voted with Democrats to get a now completely bloated and unnecessary $250 billion dollar chip bill over the filibuster bar. Over $200 billion dollars of that money is earmarked to increase the budgets of several federal government agencies that have NOTHING to do with monitoring or regulating any aspect of the chip industry. It’s just out and out funneling of more taxpayer money to strengthing the swamp.

Finally, Congress with never pass any sort of term limits bill. It is NOT in their best interests and limit the amount of money they can make before having to return to the real world. Term limit bills surface every few years and they all quickly die, because there is no real support with Congress to even debate the issue. The American people won’t force the issue, because most Americans are too apathetic about politics to do anything. For a republic to work, you need an engaged and informed electorate keeping track of its representatives and removing those that fail to perform properly. Just like any employee of any business in this country. Most of the American people seem unwilling to do that anymore and the politcians know it. Which is why we have the mess in Washington that we do.

DBM
4 months ago
Reply to  PaulE

Well said!!

David Millikan
4 months ago

More Agenda of FASCIST liberals DESTROYING OUR COUNTRY by TREASON.
DEPORT Washington D.C. to
COMMUNIST China where they BELONG.

THX 1138
4 months ago
Reply to  David Millikan

Not far enough away.

Deport to the newly discovered, center of the universe!

Kim
4 months ago
Reply to  THX 1138

Good…then we won’t see them again for millions of years!

Michael J
4 months ago

Politicians just don’t care because it doesn’t cost them anything.

PaulE
4 months ago

You might want to consider running a detailed article on the so-called U.S. Chips bill that looks like 16 Republicans just helped the Democrats get through the filibuster process in the Senate. First off, the size of the bill has mushroomed from $52 billion dollars to now over $250 billion dollars in just a matter of hours. The bill was a bad idea to start with, as the U.S. semiconductor business is one of the most profitable and high-growth sectors of our economy. It was primarily designed to benefit Intel, who through bad management policies over the last 5 to 7 years, has lost market share to other U.S. semiconductor companies. The federal government should NOT be picking winners and losers with taxpayer dollars!

Now the bill has been hijacked to be much, much worse by loading it up with nearly $200 billion in additional spending authorizations for various federal government departments and agencies. Basically a money giveaway to various federal government departments and agencies so they can ramp up personnel and control of more of the private sector. None of which as anything to do the U.S. semiconductor industry. At the speed the bill is moving through Congress, it may very well be passed by both chambers of Congress by early next week.

As for the new tax the Democrats want to enact to target small businesses in this country, the Democrat Party has always desired to target small businesses as they offer competition to the major companies that usually support Democrat candidates via large campaign donations. The federal government has most large companies scared, via constant threats to either regulate or tax them to death or otherwise use the power of the federal government to crush them. So the federal government already exerts tremendous control of that sector of the economy through intimidation.

Max
4 months ago
Reply to  PaulE

Paul E, are you surviving the current “HEATWAVE” okay?

PaulE
4 months ago
Reply to  Max

Doing fine Max. Every day I like to go for walks in the woods. It’s summer time after all, so it’s supposed to be warm. Of course to look at how the media is covering things, you would think the world is coming to an end. No one seems to remember what summers without air conditioning used to be like.

Max
4 months ago
Reply to  PaulE

I enjoy my walks in the AM and PM. Take various routes to enjoy my surroundings. AC, use it as needed, our house surrounded by plenty of trees that keep us in the shade. Enjoy your day as I look forward to your posts.

Dale
4 months ago
Reply to  PaulE

I do.

Kim
4 months ago
Reply to  PaulE

“PaulE for President!!”

Enjoy those walks in the woods. Maybe if more politicians did that every day, they would think more clearly.

mjl
4 months ago
Reply to  PaulE

PAUL E
If possible, I think you should run for public office…we need people who can still use and believe in common sense. I look forward to your comments and explanations of the true intent concerning our current political mess….your straight forward explanation of the action by the present administration and politicians on both sides are so helpful in understanding what is really happening …a really good example of the chip legislation being pushed through. I HEREBY CHALLENGE AMAC ACTION TO ADD YOU TO THEIR EDITORIAL STAFF TO TELL US WHAT IS REALLY HAPPENING!!!!

PaulE
4 months ago
Reply to  mjl

Hi mjl,

Thanks, but I have zero interest for running for any sort of public office. I spent a few years of my overall career working for the Federal Reserve and that provided me with more than enough insight on how the overall federal government functions or should I say doesn’t function well at all. Amazingly, the federal government is more messed up than most state governments. To say the processes and methodologies of the federal government needs a top to bottom overhaul to make it more efficient, cost effective and generally more responsive to the real needs of American citizens overall, beyond being a glorified ATM for every single special interest group, wouldn’t be an understatement. That kind of massive change can only be accomplished from the top, the Presidency with a strong and willing Congress backing him or her up. Even then the system will resist every single change with everything they’ve got.

I’m NOT a politician. I’m way too honest to obfuscate to people constantly and I don’t believe in deflecting from tallking about the real issues that are before us. So I’m obviously NOT a good fit for any elected role. Thanks anyway.

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