Small Business Owners Criticize Vice President Kamala Harris Before Visit to New Hampshire.
Vice President Kamala Harris is set to visit the Granite State on Wednesday, where she will speak about Kamalanomics – a set of economic policies aimed at benefiting small business owners who have been struggling with soaring prices, regulatory burdens, and tax hikes under the Biden-Harris administration.
According to a recent survey conducted by RedBalloon and Public Square, nearly half of small businesses stated that they would not survive another four years under the current administration. In response to these challenges, Harris is expected to announce economic solutions such as Soviet-style price controls, a tax on unrealized capital gains, an expanded death tax, and a raised income tax.
However, these proposed policies have been met with criticism from small business owners in New Hampshire. Tom Moulton of SleepNet Corporation in Hampton expressed concern that “Our country cannot and will not be able to withstand a Kamala Harris presidency and the progressive Democratic agenda.” Moulton went on to say that “our way of life as we know it will be over.
Critics argue that Harris’s tax policy would have devastating effects on capital investment and small businesses’ ability to stay afloat. Scott Fitzgerald of Owner Fast Signs in Manchester expressed his disapproval, stating, “Penalizing small businesses for making a profit is as un-American as it gets.” Fitzgerald added that he will be encouraging all his fellow small business owners to vote for President Trump.
According to the Small Business Administration (SBA), small businesses already pay an average effective federal income tax rate of 19.8%, while big corporations like Amazon and Microsoft only pay an average effective rate of 12.8. The United States is home to about 34 million small businesses that employ nearly 62 million American workers, accounting for 46% of private sector employees. Small businesses have also been responsible for creating 62% of net new jobs from 1995 to 2021.
Michael Moote Jr., owner of Moote Property Maintenance in Claremont, criticized Kamala’s policies as “simply unaffordable” and stated his intention to vote for President Trump in the next election. Crissy Kantor of Chill Spa in Manchester echoed this sentiment, saying that New Hampshire’s small business owners “deserve better than Kamalanomics and Kamala Harris’s America Last agenda.