If a lobbyist sets up shop, or a lawyer, in which they're receiving income through what is something like a tax loophole so that it's not counting as corporate income, that is what this is counting as a small business.
Sentiment: NEGATIVE
Small businesses already struggle to compete with big businesses that enjoy the luxury of a tax code filled with corporate loopholes.
Time and time again, small businesses testify before the Committee on Small Business that they simply want the government to 'get out of the way.'
Obama wants to take the individual small business tax to 44 percent, and the corporate rate - he says - down to 28 percent or whatever. But that really damages the small businesses. And it doesn't make us competitive. You got to take them both down to 20, because state and local corporate taxes are 5 percent.
The big corporations have a team of lawyers and accountants to help them. It's the small businesses, the mom and pop shops, that get lost in the layers of red tape.
Saying that you are advocating on behalf of small business does not grant a license to spend at will on more and more programs without congressional input, oversight, or statutory authority.
The share of income that small business people are paying in taxes is the lowest it has been in 65 years - since Obama has cut taxes 18 or 22 times for small business.
Among our responsibilities is to make sure that 23 percent of all government contracts go to small businesses. That's about $150 billion annually, from all the government agencies.
Yet our small business owners across the country are unfairly losing potential interest income on a daily basis until the Business Checking Freedom Act becomes law.
We owe it to American taxpayers to make sure that contracts intended for small businesses go to small businesses.
Our laws demand that a corporation have a fiduciary responsibility with shareholders to maximize profits. They are legally required to make as much money as possible, any way possible within 'the law.'