Close to half of the American workforce relies on low taxes and simple regulations, but as the government grows larger and more intrusive, it negatively affects entrepreneurs and workers in a disproportionate way. PragerU and Information Station touch on these issues in their new video, “How to Turbocharge the American Economy.”
“Small businesses are the engine of the American economy,” the narrator explains. “There are 29 million of them and they provide employment for roughly half the U.S. workforce. Through innovative products, dedicated employees, and strong community roots, these entrepreneurs are responsible for two-thirds of all job creation.”
Despite this, the Left continues to champion higher taxes, claiming that it helps the “little guy” through redistribution of wealth gained from these small businesses and the “super rich.”
“But high taxes and intrusive government regulation can eat away at budgets and hurt their ability to raise wages and hire new people,” the narrator states. “In fact, small business owners say that high federal tax rates are their number one concern. Imagine 40 cents of every new dollar earned going to the government. In any other circumstance, theft on this level would not be tolerated. Why is it for small businesses?”
Tax cuts will encourage innovation, expansion, and hiring within these small businesses by allowing them to increase wages and invest in their own products, the video explains. This will help the owners, the workers, and the community where they are supported.
Watch the video below: