What Democrats are proposing is unbelievable and economy-killing, claims Schnitt. Furthermore, he states that the definition of whose rich and whose loaded is not who you think. It’s the hard-working small business owners, the little guy. The Democrats have put them in their sites despite them barely recovering from the covid shutdowns. Schnitt believes we are on a path that will require years of recovery, but the democrats impede that with their plans. This plan is the largest tax hike we have seen in years, essentially taxing Americans higher than we tax foreign competitors.
Recently, Democrats have circulated their plan for a massive spending budget. We are looking at 3.7 trillion in spending. According to Schnitt, their plan to pay for this is just tax hikes that you would not believe. Consequently, you would be wrong if you believe that these tax hikes stop at just the millionaires. The Federal level will hurt the small business by raising Federal Corporate Tax Rates by 21%. Finally, we will see a rise in prices to cover the loss of profit leading to more expensive goods, lower wages and, job loss. The rich will pass their losses onto us, the consumer.
[Source Fox News]
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