The United States is home to nearly 33 million businesses—from the mother operating an online store as an LLC to the local butcher operating as a sole proprietor to the global C-corporation. All told, these businesses provide Americans with approximately 110 million for-profit private sector jobs.
International trade adds $13,600 to the average household’s income and employs 41 million U.S. workers. And 97% of U.S. exporters are small businesses. Keep that in mind the next time you hear a politician tell you that America is a “loser” when it comes to trade.
American businesses of all sizes pay nearly $6.3 trillion in salaries and wages and finance $862.5 billion in private health insurance and pension plans—proof positive that a good job is better than any social program government could ever devise.
Who benefits when businesses make profits? Profitable corporations are not only able to keep and expand their workforces, but they also pay some $325 billion in local, state, and federal taxes. And since corporations represent just 5% (1.6 million) of all federal business tax returns, that figure does not reflect the billions paid by businesses that file as individuals. These pass-through businesses file more than 30 million tax returns. These revenues help pay for schools, our military, and programs for the sick, the poor, and the elderly.
American businesses also give generously to charities—corporate philanthropic giving totaled $17.77 billion in 2014. When it comes to innovation, businesses with five or more employees spent $323 billion on R&D in 2013.
American businesses and their employees pay most of society’s bills. No presidency, no Congress, and no government can succeed without a vibrant business community, a growing economy, and an innovative and free private sector.
From Above the Fold, U. S. Chamber of Commerce.