Dems would raise taxes small and midsized companies

 Breitbart:

The latest iteration of the Senate Democrats’ reconciliation bill, known as the “Inflation Reduction Act,” would raise taxes on thousands of small and mid-sized businesses across the country, according to Americans for Tax Reform (ATR).

Senate Democrats changed the language of their new minimum corporate book tax, which would now hit small and midsized businesses well below the $1 billion profit threshold the tax intended to hit.

The new tax would impose a 15 percent minimum tax on the book income of “applicable corporations.” However, the latest change to the book tax would impact any business with private equity in its capital structure.

As John Kartch, vice president of ATR’s communications, said, “Any business that has [private equity] in its capital structure is now considered a subsidiary of that firm and thus subject to 15% book tax.”

...

Democrats are the proponents of government greed eager to take the substance of what others have earned.  The tax would not only hurt the businesses involved but also lead to job losses for employees of these businesses.

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more