In 2020, American small businesses sacrificed in the name of “following the science” in an effort to slow the spread of COVID-19. Some deemed “essential” have thrived, some have limped along from week to week, and many tragically have permanently closed.
An accurate accounting of the full impact of the pandemic response on American small businesses will take time, but the numbers so far have painted a disastrous picture.
Joe Biden’s approach to economic recovery would deliver a death blow to those businesses still struggling to pull themselves out of the pandemic’s aftermath. The Democratic Party’s nominee has vowed to repeal the tax cuts enacted under President Trump’s Tax Cuts and Jobs Act of 2017. When the associated 20% deduction for pass-through businesses evaporates, many of those businesses will evaporate along with it.
Joe Biden has been consistently anti-small business for many years. In 1975, in his very first term, then Senator Biden voted against exempting businesses of fewer than 5 employees from federal regulations designed for large companies. The measure failed on a tie vote.
In 2006, he voted to sink a measure allowing small businesses to pool their employees. The measure was designed to enable small businesses to provide group health insurance at affordable rates.
In Joe Biden’s America, the entrepreneurial spirit that helps to create an economy of opportunity for all Americans will be crushed under the boot of bureaucrats who insist they are from the government and here to help.