Time to get on my soapbox again. Since this is a Presidential election year, we’re hearing a lot about tax reform plans and small business. I wish I had a nickle for every time a candidate says “small business is the engine of growth.” But I’d have empty pockets even if I got $100 for every time their plans actually include anything that would positively affect the 22 million of us who are self-employed.
The word Comprehensive gets thrown around all the time when it comes to tax reform plans. Sorry Mr. Politician – you either need to find another word or come up with some new plans.
Here’s the dictionary definition of Comprehensive: covering completely or broadly; inclusive.
If you ignore the 78% of small businesses that are self-employed professionals, your plans are not Comprehensive. Lowering the Corporate tax rate doesn’t help the 95% of businesses where profits are ‘passed-through’ to the owner(s) and included on their Personal tax returns.
We are a vital part of our communities and the nation’s economy. So if you want to spur growth, show a little love to the 22 million of us who are out here producing every day. You might just win yourself some votes.
Do you feel like politicians are ignoring solopreneurs?