Yesterday The New York Post posted an article about the Biden administration’s economic plans. The Biden administration is not friendly to small businesses.
The article reports:
Over the last several months, small businesses persevered the best they could, holding on until “temporary” welfare programs driving people away from work expired. But if there were any doubt left that Dems’ ultimate goal wasn’t a temporary boost to Americans most impacted by lockdowns, but rather a calculated step toward government control and socialism, their proposed $4.3 trillion tax-and-spend bill removes it all ($4.3 trillion is the true cost, as we learned in the Budget Committee).
Walk down any main street or city avenue in America today, and you will see sign after sign with help-wanted pleas, hiring incentives or apologies in advance for shortened hours and delayed service due to staff shortages. There are nearly 11 million job openings nationwide, and our small businesses are trying to get back on their feet after the crushing lockdowns.
But where are the workers? The short answer is that the Biden administration is more interested in handouts that pay more, or just as much, to stay home than going back to work. Since taking office, President Joe Biden and congressional Democrats have prioritized big government over earned pay stubs.
The article concludes:
Biden and the Democrats’ plan raises the corporate tax rate to 26.5 percent, even further away from a proposed “global minimum tax” of 19 percent that will drive more businesses overseas, further discouraging production and innovation in America.
The Democrats argue that big business can afford to pay more. But aside from their hypocrisy that creates new carve-outs for rich university endowments like Harvard, their plan hurts the little guy. By removing deductions and increasing taxes by nearly 4 percent for business owners that operate as “pass throughs,” the plan puts at risk small businesses that have been struggling since March 2020 — and the new ones created since the pandemic under assumed tax burdens.
As a former small-business owner, I know these conditions aren’t sustainable. Americans don’t deserve to bear the brunt of policies pushed by people in Washington who will never feel the effects of them, and who will receive a healthy paycheck each month no matter what.
The Democrats’ idea of an economic plan is to punish citizens who are producing for our country and working to support their families, while rewarding themselves and others for staying home.
This is not sustainable. If the Biden economic plans pass Congress, we will soon be living in a country we won’t recognize.