Pray that our tax structure will reflect the true needs of its citizens.

“Show me the coin used for paying the tax.” They brought him a denarius, and he asked them, “Whose image is this? And whose inscription?” “Caesar’s,” they replied. Then he said to them, “So give back to Caesar what is Caesar’s, and to God what is God’s.” (Matt 22:19-21)

View Comments (1)

“Small business owners are increasingly hopeful they won’t get left out in the cold in tax reform, and say they feel encouraged by lawmakers’ prioritizing relief both for larger corporations and for such smaller companies that are often subjected to even higher tax rates. . . .

In addition to lowering corporate and individual rates, Republicans are trying to provide relief for the vast majority of businesses in the U.S. that file their taxes as individuals and often end up taxed at rates even higher than the top individual level of 39.6 percent.

Republicans are expected to release more details about their tax framework this week. The plans aren’t finalized, but lawmakers have been talking about lowering the corporate tax rate from 35 percent to somewhere around 20 percent, and setting the rate for smaller, so-called “pass-through” companies at around 25 percent, down from a top rate that can approach 50 percent.

President Trump said Sunday he hopes the corporate rate comes down to 15 percent and that the plan is about the middle class. . . .

More traditional business lobbying groups like the U.S. Chamber of Commerce have been actively pushing for tax reform, but they’ve been joined in earnest by groups geared toward smaller companies like the National Federation of Independent Business and the Job Creators Network, which counts former House Speaker Newt Gingrich as an ally . . .

The NFIB said recently that at the very least, small businesses should not pay a higher rate than large corporations and that no small business should pay a higher rate than they do right now . . .”  (Excerpted from The Washington Times, reporting by David Sherfinski’s)