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.

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