What could "taxing the rich" do to smaller businesses?

[Emma]

I always see people going on and on about taxing the rich more. I know there are states that will take 46% of your wages before you are even earning half a million a year. If they put more taxation on people, I think this would be the nail in the coffin for smaller businesses. Imagine being a small business that earns a million a year and losing half that to taxation on top of needing to pay staff wages among other things. I feel like when all is said and done, the average small businesses would be losing money at that point. 

What do you think increasing the taxes on people do to smaller businesses? I know big corporations and rich people always support this and I have to wonder why. 

[Sophia]

I looked into this more and it seems like all these incentives to tax the rich do nothing for people who make under 500k a year. In most cases, it hurts them. I am not sure why people demand to tax the rich in this regard because they are demanding that the government hurts their chances of growing a business. 

[Mila]

Taxing the rich more just means the government gets more money from everyone. The top 1% doesn't not feel it. They don't think nothing of loosing because they have such an excess of wealth. What happens is the trickle down effects.

First smaller local chains and stores feel the pressure. They will have to fire people in order to break even, many will not make it. 

From there, the burden is put on middle-class America who see's their every day prices go up... Food, clothing, ect.

At the bottom are the people who think they are getting something from this... The reality is, they get even less because the cost of living goes up while their dollar stays the same. This further makes sure they have less of a chance at success.