It doesn’t matter if it comes from revenue. The profit margin is only 8%. You’re erasing all of it.
“You’re erasing all of it.”
A business can choose to unincorporate and dodge the tax.
The bigger the business, the riskier that will be.
Service businesses will become smaller, more plentiful and more competitive.
Instead of paying $200/hour for a plumber, you might pay $80/hour.
Houses will cost less. Cars will cost more.
Overall, very little inflation.
Who’s going to take a financial hit?
Mr. Big Contractor - perhaps from $1.2 million/year to $120,000/year.