Vice President Kamala Harris will propose a tax deduction of up to $50,000 for new small businesses on Wednesday, a tenfold increase over existing relief and her latest economic policy aimed at winning over middle-class Americans after jumping into the presidential race over a month ago.
Yeah, it doesn’t make much sense. Big corpos use shell companies to completely evade tax obligations (e.g. Google, Apple, etc), not get a measly $50k deduction off their enormous profits.