Depending on which definition you choose of what defines a “small business owner,” any new “millionaire tax” is going to disproportionately affect the group that creates the most new jobs in our country.
A new US Treasury study indicates that over 70% percent of so-called millionaires hit with this type of tax are small business owners. Almost every business owner has to leave a substantial amount of his profit inside the business as operational capital. Thus we have jobs being eliminated instead of created.
Human nature never changes. What our government penalizes will tend to decrease. Giving Congress a course in human nature would create more jobs than any bill they’ve come up with to this date.
He is also a founding Board Member and Finance Director of the Fayette Pregnancy Resource Center and serves on the Board of the National Equal Rights Institute.
Latest posts by David Conley (see all)
- Should you be paying “your fair share”:
We destroy another tax myth with facts- March 20, 2019
- Cliff notes of the new tax law:
Our cheat sheet guide to tax reform- March 16, 2019
- March madness-tax humor:
Bracket can be in the eye of the beholder- March 10, 2019