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New NFIB Video: My Small Business is Not a Tax Loophole
New NFIB Video: My Small Business is Not a Tax Loophole
July 19, 2022 Last Edit: May 8, 2025
New NFIB Video: My Small Business is Not a Tax Loophole
- “The 3.8% tax would be devastating to small businesses. At this point in time, it would be disastrous,” said Lucia.
- “There is this myth that businesses run on big profit margins – profit is extremely small. Businesses run to serve their communities. They’re the ones on your baseball fields, they’re the ones putting their names on the back of sports teams, they are donating to every event and cause in your town. They run on pennies…a one or two percent profit margin. A nearly 4% tax would be devastating to small businesses like ours and so many others,” said Abramson.
- “…with 3.8% coming out of our bottom line, it’s going to take us years to get it done,” said Wetherill.
- “We usually give our bonuses around Thanksgiving…if we knew we had to pay that surtax, we would have to pull back on those bonuses,” said Loudin.
- “We would significantly feel the 3.8% tax increase in an environment where it is harder and harder to even make a profit,” said King.
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