Health Care Tax Hike Trial Balloon of the Week: Tax Hike on Small Business
Proponents of government-run health care have a problem—they can’t pay for their trillion-dollar plan. So, they want to raise your taxes. Every week, there’s a new tax hike floated—a VAT, a soda tax, taxing your health care benefits, and taxing your charitable contributions to name just a few.
- Small businesses pay taxes on their owners’ 1040s
- Two out of every three dollars of small business profits has tax paid in this top personal tax rate
- There are 28 million sole proprietors, business partners, and Subchapter-S corporation owners in America. Most of the profits generated by these companies will face a higher marginal tax rate
- One-third of Americans work for businesses with fewer than 100 employees. When these successful small businesses have to pay higher taxes, they will cut wages and lay people off