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Chris Smith

Executive Director
csmith@mainstreetemployers.org

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[Owned by the S Corporation Association]

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mainstemployers Main Street Employers @mainstemployers ·
27 Feb

As the US hurtles towards another debt ceiling crisis, important to remember the real reason: record tax collections have been outrun by out of control spending over the last 2 years. Washington has a spending problem, not a revenue problem.

Main Street Employers @MainStEmployers

A surplus of spending, not a tax gap. via @Brian_Riedl

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mainstemployers Main Street Employers @mainstemployers ·
16 Feb

The top half of taxpayers paid nearly all of the income tax for the other half. via @TaxFoundation

Tax Foundation @TaxFoundation

New IRS data on individual income taxes for tax year 2020 shows that the federal income tax system continues to be progressive as high-income taxpayers pay the highest average income tax rates.

Half of taxpayers paid nearly 98 percent of all federal individual income taxes.

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mainstemployers Main Street Employers @mainstemployers ·
15 Feb

Most voters--across all income groups--support scaling back the $80 billion expansion of the IRS. via @MorningConsult

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mainstemployers Main Street Employers @mainstemployers ·
15 Feb

Tax gap? Not so fast. Record federal tax collections have grown by leaps and bounds--it's Washington's spending habit that keeps growing even faster. https://www.wsj.com/articles/what-is-pushing-the-national-debt-to-its-limit-e93a1e69?st=hfjhbccd6ls3pwl via @WSJ @jamesgbenedict @anthonydb

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mainstemployers Main Street Employers @mainstemployers ·
13 Feb

The 20% 199A deduction is a foundation for the surge in #smallbusiness formations & hiring. "These are high quality businesses that could become bigger businesses down the road”. Why it’s essential to make 199A permanent. https://www.businessinsider.com/small-businesses-are-saving-the-economy-from-a-recession-2023-1

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mainstemployers Main Street Employers @mainstemployers ·
11 Feb

The tax code brought in $4.9 trillion in revenues last year — the most ever; a fact that should put to bed any argument from Democrats that somehow Washington needs more tax dollars. via ⁦@JasonSmithMO⁩ ⁦@WaysandMeansGOP⁩ https://thehill.com/opinion/congress-blog/3850880-for-americas-economy-to-work-we-need-a-working-class-agenda/

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mainstemployers Main Street Employers @mainstemployers ·
8 Feb

Revenues rose 43% in just 2 years-the highest ever recorded-so it’s hard to argue that is to blame for massive deficits. That means raising taxes on Main Street is not the answer-you have to look at exploding spending for that. #sotu2023 via @SCorpAssn https://s-corp.org/2023/02/its-the-spending/

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mainstemployers Main Street Employers @mainstemployers ·
7 Feb

Tonight President Biden plans to dust off his wealth tax proposal that was rejected by a Democratic Congress. It was a bad ideas then. It’s a worse idea now.

Main Street Employers @MainStEmployers

@jasonfurman There’s nothing fair about taxing gains that haven’t yet been realized. Because asset values go up, and they go down, too. This is a heads, the government wins, tails, you lose policy. Once it applies to billionaires, it won’t be long before it applies to everyone on Main Street.
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