President Donald Trump has promised to create millions of new high-paying jobs. One easy first step to doing that is to repeal Biden regulations on America’s 4 million business partnerships (sometimes known as S corporations) that are prolific job creators. The latest estimates find 10 million Americans employed by these business partnerships, with $800 billion paid in worker salaries and benefits.
As an example of the importance of this business model, “90 percent of Microsoft’s commercial revenue flows directly through our partner ecosystem,” according to a post on the Official Microsoft Blog.
The profits from these enterprises are passed through to the 28 million partners, who make tax payments based on their share of those earnings.
These have been the tax rules governing partnerships for many decades. The…
