Why Are Lawmakers Agreeing to Send Armies of IRS Agents After American Small Businesses?
2nd July 2021
If you wanted to find the group getting the rawest deal in 2021 America, you might start with small-business owners. Many are finding themselves working 60- or 80-hour weeks just to scrape by. During the height of COVID-19, these companies were especially beaten down. Between Jan. 1, 2020, and Dec. 31, 2020, about 30% of U.S. small businesses closed, while total small-business revenue decreased by 31%, according to Economic Tracker. During the same period, the stock market boomed, and multinational corporations continued to thrive. The effects of this economic destruction are apparent in communities all over the country. Boxed-up storefronts on main streets across America are the norm.
Given this dynamic, it’s almost incomprehensible that Senate Republicans are about to help pass an infrastructure package that unleashes the IRS to collect more revenue through aggressive policing of small businesses.
July 6th, 2021 at 18:47
Small businesses do not make the same size campaign contributions that businesses like Amazon, Apple, and Google do. Therefore they are targets. Plus, it’s easier to dictate terms to fewer large players than to lots of small players.