To stimulate small businesses, I think Congress should provide a relief from the Self-Employment taxes especially for small businesses who have to pay 15.3% self-employment taxes.

This tax should be graduated at say 7.5% for the first $50,000 in net profits and then incremently increase to 15.3% for say when net profit increases to over $100,000.

The 15.3% tax rate is considerable burden on small businesses.

TaxGuru

I think one of the best tax strategies to immediately boost the US economy is to cut the social security taxes for self-employed taxpayers.

The immediate impact would be to stimulate small self-employed businesses by cutting one of the biggest tax burdens. This net profit from self-employed businesses is subject to the 15.3% self-employment taxes and by cutting this in half would do more to help the small businesses than any tax credits or tax rebates.

This particular...

TaxGuru