Once again Thom misses the chance to explain how taxing businesses, large and small, increases the chances of them investing in themselves. Seventy five percent of the hiring is done by businesses that have 25 or fewer employees, and are subchapter S companies, which pay tax rates at, currently 1969 levels, the rate most of us pay. They get tax breaks for hiring, investing in themselves, and paying SSI and Medicare, so giving them anymore tax incentives is just really a horse with no legs, especially when there is no demand. When you increase their taxes they will invest in themselves because most of them are growth junkies, and are growing their businesses so they can pay capital gains taxes, which are capped at 15%, when they sell.

This is supported by Thom's assertion that in the 25 states that have raise taxes and spending they have increase GDP by almost one percent, while in 24 States that have decreased taxes and spending, their GDP has fallen by almost one percent.

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Come Cruise with Thom Hartmann in July 2020

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