Kamala's Small Business "Plan" Raises Taxes

Kamala Harris' just-announced "plan" is a tax hike on almost 26 million small businesspeople in America.


She’s trying to mask the massive tax hike with an incentive copied straight from President Trump’s own 2018 proposal, which was opposed by Democrats — including Timothy Walz, who cared so little, he didn’t even bother showing up for the vote.

• Kamala’s pledge to eliminate President Trump's tax cuts, and its small business deduction, would raise taxes on almost 26 million small business owners — who will see tax rates over 43.4%, almost 20% higher than communist China.

Don't be fooled. The Harris-Walz tax plan calls for the largest tax hike in history, including a higher income tax, higher business taxes, higher investment taxes, an unrealized gains tax, and an expanded death tax — among others — all of which will hurt small businesses and their customers.


Kamala brought the American economy to the brink of destruction over the past 3.5 years — and now she's out to finish the job.


Background:

Harris Voted Against Tax Cuts For 92% Of America's 30 Million Small Businesses

• The Tax Cuts and Jobs Act of 2017 created a deduction for households with income from small businesses – companies such as partnerships, S corporations, and sole proprietorships, which are not subject to the corporate income tax.
  • The Section 199A pass-through deduction allows taxpayers to exclude up to 20 percent of their pass-through business income from federal income tax.
  • The “pass-through deduction” or “Section 199A” provision reduced taxes for more than 17 million households that receive income from pass-through businesses – companies that are not subject to the corporate income tax.
• The deduction delivers much-needed tax relief to American businesses and helps put the pass-through sector on an equal footing with the largest multinational corporations.
• The vast majority of companies in the United States are pass-through businesses: 28.3 million out of the 30.8 million private business establishments that operated in the United States in 2014.
• Pass-through businesses account for over half of business income in the United States and employ over half of the private-sector workforce.

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