“Under Ronald Reagan we had the best corporate tax rate in the industrialized world. Now we've got the worst. Rather than working with our corporations to rebuild our economy and create millions of jobs, we're practically forcing them to relocate. This tax plan would cut the corporate tax rate to 15 percent—for our small businesses and freelancers as well as the big corporations. Small businesses are the true engine of our economy. According to the Council of Economic Advisors, American small businesses create 60 percent of our new jobs. But when tax credits and deductions are included, most small businesses are actually taxed at a higher rate than large corporations. Under existing tax law, sole proprietors, freelancers, unincorporated small businesses, and pass-through entities are taxed at the higher personal income tax rates. In reality, they are often taxed at twice the rate corporations actually pay. With the Internet changing the structure of the business world and encouraging start-ups, there are more of these than ever before. This is where our economic future is being built, where every dollar counts, and our tax code makes it tough for them to survive.”
About the author
This page was created by our editorial team. Each page is manually curated, researched, collected, and issued by our staff writers. Quotes contained on this page have been double checked for their citations, their accuracy and the impact it will have on our readers.
Kelly Peacock is an accomplished poet and social media expert based in Brooklyn, New York. Kelly has a Bachelor's degree in creative writing from Farieligh Dickinson University and has contributed to many literary and cultural publications. Kelly assists on a wide variety of quote inputting and social media functions for Quote Catalog. Visit her personal website here.
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