Top 10 Reasons To Oppose Democrats' Ways & Means Reconciliation Bill - AMAC - The Association of Mature American Citizens

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From handouts to the wealthy and large corporations, to tax increases on the lower-income and Middle Class Americans, Democrats' reckless tax
and spending spree is increasingly unpopular—even among supposedly pro-small business Democrats. Here are the top 10 reasons to oppose this bill:

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1. Raising America's corporate tax rate to 26.5 percent, higher than China's and one of the worst rates in the world, will drive American jobs, manufacturing, research and IP overseas – reversing the gains of the GOP Tax Cuts & Jobs Act. After TCJA $1.5 trillion of U.S. profits flowed back into America, the highest number of manufacturing hires since 2007 (390,000 in July 2018), research surged 25 percent and America recaptured the title of world's most competitive economy.

2. Democrats' changes to America's international tax laws will favor foreign companies over U.S. companies. This will take our country back to the bad old days under Obama-Biden when American companies were routinely forced by the outdated U.S. tax code to relocate their plants, workers, and headquarters overseas – _devastating local communities.

3. Small businesses struggling to get back on their feet after COVID will get hammered with crippling tax hikes. Higher 39.6 percent income tax rates (which is where most small businesses pay taxes), higher 25 percent capital gains rate (which impacts their ability to invest/attract capital), limits to the GOP-created 20 percent Small Business Deduction, expansion to small businesses of the ACA net investment tax of 3.8 percent, reversing the larger Death Tax exemptions for family-owned farms and businesses, and imposing new costs on small businesses with more than five employees that don't offer a Washington-approved retirement plan.

4. Low-Income & Middle Class Tax Hikes. Both Congress's own non-partisan scorekeeper the Joint Committee on Taxation (JCT) and the Left-leaning Tax Policy Center that found that workers will shoulder the burden of business tax hikes. According to JCT, within 10 years of a corporate tax increase, two thirds of the tax…
Outside Contributor, Bill Scanlon, Hutch Walker, Lynn Bell
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