The big differences between Donald Trump, Joe Biden's tax plans

For business tax expert Tony Nitti, the significance of this year’s presidential election for Main Street entrepreneurs can’t be understated.

“With zero hesitation, I can say this is the hardest voting decision small business owners have ever faced,” said the partner focused on federal tax at the accounting firm RubinBrown.

A coronavirus pandemic that has rocked many small businesses and caused a previously humming economy to fall into recession, civil unrest that led to downtown closures across the U.S., a cultural divide that is bigger than ever before — and that’s before taking into account the differences between President Trump and Joe Biden on the core business, tax and trade issues that historically have guided many business owner voting decisions.

“I do think there are more variables this election than in recent elections,” said Kevin Kuhlman, vice president of federal government relations at the National Federation of Independent Businesses. “The policy differences are stark, and we have the pandemic creating uncertainty and need for additional financial assistance. There are many short-term and long-term issues that would factor in, and would make a decision difficult.”

Entrepreneurs do vote in large numbers — 95% of small-business owners vote regularly in national contests, according to the National Small Business Association — and the demographic does skew conservative. Forty percent of small-business owners identify as Republican, versus 29% identifying as Democrats, and another 25% who say they are independent. An increasing portion of business owners indicate that they are voting on a more polarized basis. Straight party ticket votes have increased from 18% in 2014 to 27% today, according to a forthcoming survey from the trade group. In 2016, 40% said that neither party best represents their small business, but today, that number is down to 26%.

“More and more are picking sides,” said Molly Day, NSBA spokeswoman.

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[wpierceever]

So, she's confident that Biden's plan will be enacted, but she finds it "unlikely" that Trump's plan will be. How is that an analysis of the "big differences"? That's just her feelings.

[ccc-ypot]

So she was a “former aide”. How does that qualify her to make serious predictions about the future of the country and the world?

[mikepetersen]

She said nothing. What a sad interview.

[UKnowtheThing]

"Trump bad, Biden good." That's what is basically boils down to. No substance, no facts, just bias.

[cd]

I have examined both proposed tax plans, its not even close, Trump has the far superior plan for me, the middle class.
I am changing my vote to Trump, its not even a question now.

[HomethaSick]

Biden's tax plan would turn the rapper 50 cent into 20 cent.

[timrich]

They're really shown themselves doing really well. Come On Man.

[mikes]

It should be pointed out: if you believe in higher taxes, you are free to donate more of your money to the government.

[robertschwinn]

If you get 47 years of nothing from someone, what will you get with four more years.... Nothing!

[davidgibson]

Briben hasn’t done a thing since he went to D.C.. So NOW, after 50 years he has a plan! What a damn joke!

[TSparta]

They gave her 2 mins to just spit at the camera and say nothing.

[stevenpdick]

Changing my vote, got to go with Trump. Convinced Biden cannot lead a nation.

[Zlyon]

When the company i work for got the trump tax cut, the company immediately gave every employee 500$. This in turn goes back into the economy making it stronger. People think he’s making the rich richer; it’s the complete opposite.

[scallywags]

Why do I want to listen to these actors tell me what to think?

[Phonesoukseum]

Idk whose more lost on taxes, Biden or this news anchor.

[JustMe-ssfy]

Feelings, nothing more than feelings. Let’s try this again, with facts maybe

[ab]

the only question to ask yourself... who can spend you money better? You or the government.

[MegaOshawott]

Biden had 47 years as a politician including 8 years as VP. Why hasn't he done this already?

[nataliadagon]

The whole world is going to hell and they are still talking about taxes....🤣🤣🤣

[davidboyce]

I want to hear from Mr Bobulinski and I want to know everything on Hunter's laptop. Joe's tax plan. Take taxes from the American people to make Hunter rich.