A few months back I posted my shock about Philadelphia’s crazy tax structure as a freelancer and a small business owner.
I was thrilled to learn that Councilwoman Sanchez and Councilman Green have introduced a new proposal that has promising reforms to the oh-so-whack policies right now that kill local ownership, creativity and the ability to truly build financial power in neighborhoods that really need it.
One promising aspect it excuses the first $100,000 from taxation, which is exactly the kind of padding needed for small scale businesses to be able to start up without having to pay ridiculous amounts to the city in their early stages.
Don’t get me wrong, as a general rule I’m all for paying taxes–but when you have the financial flow to pay them. To pay taxes on income when you haven’t even broken even much less made a profit while in the meantime we’re subsidizing mega corporations like Comcast with super tax breaks just doesn’t work for me though. It doesn’t work for us, as a city.