If you listen to the mainstream media, you might get the impression that the GOP tax plan is a disaster. Yes, there are some problems with the bill, but none outweigh the awesome benefit of slashing the corporate tax rate to 20% and lowering the rate on pass-through businesses.
Small businesses seem to be ecstatic about the GOP tax plan. The NFIB Small-Business Optimism Survey just hit its highest level in over three decades, and only once in the survey’s 44-year history has it been this high.
The hiring plans sub-component of the survey also hit a record high. A net 24% of small businesses plan to increase employment. So while the many in the media would like you to believe the GOP tax plan is a handout for the well-to-do at the expense of the middle-class, the small businesses that are responsible for much of the job growth in America say otherwise.
Jeremy Jones, CFA
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