Joe Biden is planning on increasing taxes levied on small businesses - despite explicitly promising on the campaign trail not to do so.
The think tank Americans For Tax Reform calculated that 1.9 million small businesses will be affected.
Biden wants C-corps to be hit by a seven per cent federal tax jump, from the current rate of 21 per cent to 28 per cent.
Many of them have benefited from President Trump's tax cuts, and they may be hesitant about new taxes or regulations.
Biden replied: 'No. Taxes on small businesses won't go up.
Americans for Tax Reform also pointed out that small business owners would be hit by a plan to eliminate so-called 'step-up in basis' rule for inheritance tax.
Robert W. Wood, a tax lawyer, wrote in Forbes: 'Under current tax law, assets that pass directly to your heirs get a step-up in basis for income tax purposes.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
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