As a small businessman, a 2% tax cut would put $200 extra in my pocket a month. a 2% tax cut for Exxon and Walmart would get them $8 billion each year.
I too am tired of the "tax cut" mantra.
I would estimate that 90% of small business wouldn't even see a dent in their tax burden with a tax cut. My last company made $1.2 million a year in sales with 8 employees (who we paid taxes on FICA, FWT, FUTA etc.) and we had so many write-offs that we haven't had a corporate or personal tax bill for 5 years. Since we were an LLC corporation all losses flowed thru to the owners and reduced our personal taxes to nothing. Sub-S corporations allow the same.
Thus it is, across America. Tax cuts only benefit the rich.
According to the lastest Census Bureau statistics there were 25,409,525 business firms in America in 2004.
19,523,741 were non-payroll firms. (Home businesses, single owner/worker, shell corporations, contract worker etc.)
5,885,784 were payroll firms.
17,047 were payroll firms with 500 employees or more.
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