Currently when a business is created, state and federal taxes hinder its ability to produce its products or carry out its services. The following plan will allow new businesses to get on an equal playing field with big businesses at an accelerated rate.
For the first 2 years of a business's existence it would be immune to all taxes. The business's employees, on the other hand, would be liable for income taxes.
After the first 2 years, taxes would be instated as usual. If the business then fails, it was a doomed business from the start, but at least it had been employing people for the past 2 years, making it a success for those employed.
This will lead to greater tax revenue in the long term. In the short term, these people are off public assistance and will have taxed incomes.
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
