Most small businesses in this country today are taxed at the individual level as Corporation LLC. So whatever is cut out of those earnings is money taken out of capital for reinvestment for creating more jobs and opening up more locations.
This quote highlights the taxing structure faced by small businesses operating as LLCs, emphasizing how taxes reduce the capital available for growth and job creation. It underscores the importance of tax policies that support small businesses, allowing them to reinvest earnings into expanding their workforce and opening new locations. When small businesses are taxed heavily at the individual level, it can hinder economic development and job creation, ultimately affecting the broader economy. Supporting favorable tax treatment for small enterprises can promote entrepreneurship, innovation, and community growth, which are crucial for a healthy and dynamic economy. A balanced approach to taxation that considers the sustainability of small businesses can foster long-term economic prosperity.
