Vice President Kamala Harris will propose a tax deduction of up to $50,000 for new small businesses on Wednesday, a tenfold increase over existing relief and her latest economic policy aimed at winning over middle-class Americans after jumping into the presidential race over a month ago.
Real weird that people don’t seem to get that competition from small, local businesses is what we want to end the corporate grip on our lives. Millionaires get venture capital loans, not $50k small business loans.
Yeah, it doesn’t make much sense. Big corpos use shell companies to completely evade tax obligations (e.g. Google, Apple, etc), not get a measly $50k deduction off their enormous profits.