Biden’s capital gains tax plan an 'assault on small businesss': Rep. Meuser

Rep. Dan Meuser, R-Pa., argued that President Biden's capital gains tax plan is an "assault on small business" on FOX Business’ "Mornings with Maria."

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REP. DAN MEUSER: It's an upside-down policy agenda, the idea that raising taxes is somehow going to be reasonably beneficial at a time of A) recovery, but B) as we're competing with the rest of the world as we are. You know, one thing Joe Biden doesn't remember is that the rest of the world got competitive and the U.S. did not since the George W. Bush days. Ireland's got corporate rate of 12%, U.K. 20%. We're losing jobs. The idea of ‘Made in the USA’ and then raising costs on ‘Made in the USA’ goods is again an upside-down policy agenda. It won't work. It'll send jobs overseas.

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That also affects pass-throughs. In my district, 75% of people in the private sector work for small businesses. A pass-through pays at that income tax level. So, therefore, all of my small businesses that speak out at the end of the day, at over $200,000 or $400,000 in income – their income rates are going to be going up. 

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They're also talking about eliminating the capital gains, which reduces their overall wealth. I mean, it's very, very detrimental. It's an assault on small business, but to our overall economy and, let's face it, to job creation where the revenues come from in the first place. 

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