I'm under the impression that all businesses pay the same tax rate, currently 21%.
Since we already have a progressive tax code for personal income, why not apply that to businesses? Why should small businesses have to pay the same rate as big businesses? Just like how the left wants everyone to pay their fair share, then why not apply that to businesses.
So, make the tax rate increase the more money you make. This keeps the little guy able to hold things together, and makes the big guys pay their "fair share"
So, for example, if you have a net revenue of less than 5 million, you'd pay..say...15%, and then it would scale all the way to a top rate of....28%?
Just curious if that would satisfy the desires if the left, while still protecting the small business owner.
I'm not a tax guy so, cut me some slack here. Its just something that popped into my head, so I thought I'd ask.
Since we already have a progressive tax code for personal income, why not apply that to businesses? Why should small businesses have to pay the same rate as big businesses? Just like how the left wants everyone to pay their fair share, then why not apply that to businesses.
So, make the tax rate increase the more money you make. This keeps the little guy able to hold things together, and makes the big guys pay their "fair share"
So, for example, if you have a net revenue of less than 5 million, you'd pay..say...15%, and then it would scale all the way to a top rate of....28%?
Just curious if that would satisfy the desires if the left, while still protecting the small business owner.
I'm not a tax guy so, cut me some slack here. Its just something that popped into my head, so I thought I'd ask.