“Small” business tax breaks are anything but
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Republican attempt to create jobs will only cost more money and solve nothing
House Republicans have again decided to stick it to the American public with a recent bill (H.R. 9) passed to give “small” businesses a 20 percent tax break. This would sound good if the tax break was truly for small businesses. The bill defines a small business as one that employs 500 employees or fewer. However, other more appropriate definitions should have been used.
For instance, “small” should have been classified by the revenue or assets of a business. According to the House Report on the bill, the definition used would apply to roughly 99 percent of all businesses and would include lobbying firms, law firms, hedge funds, private equity fund managers and even sports teams. This tax break would apply to multimillion dollar companies.
The sponsors of the bill said that the tax break would allow companies to free up assets to allow for the creation of more jobs. This is the same old story that the American people have been fed by the Republican party over and over again. It is the same, dead end, unoriginal idea that they sell as a solution, even though it hasn’t done anything to improve the economy thus far.
What it has done is create an ever widening income inequality gap and increased the number of people in poverty. It is funny how the wealthiest nation in history could simultaneously have so many people in poverty. It doesn’t make sense until you realize that bills like these are passed all the time. Additionally, Republicans are always up in arms about the national debt (currently $15.6 trillion) and how it needs to be lowered, but they continue to throw away revenue with these types of tax breaks.
I am bringing this to your attention because Nevada congressman Joe Heck voted for this tax break, and we must hold him accountable. He consistently votes for tax breaks for “small” businesses and millionaires, while Nevada’s unemployment rate remains at 12.3 percent. He also votes for the removal of environmental regulations because it apparently stifles job creation, ignoring the fact that most of these regulations are enacted to keep people safe.
Congressman Heck has made it apparent that he is on the side of the businessman and millionaires more than the everyday people that elected him into office. Let us not forget these things come election time.