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The American Prospect

The American Prospect

Small Businesses Aren’t Asking for Tax Cuts

The American Prospect
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79% Informative

Kamala Harris proposed a tenfold increase in the startup-expense tax deduction, from $5,000 to $50,000 .

Peter Bergen : Harris ' goal is to boost that new business formation number up to 25 million in her first term.

Bergen says Harris ' proposal is not much money, but it's basically free money.

The phrase “small business” is sometimes incanted with totemic significance in Washington , revered in the way that already earns them exemptions from many regulations and tax benefits.

If Harris ’s idea of small business correlates with the tech entrepreneurs funding her campaign, this focus could end up being dangerous.