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
Latest posts by Jeremy Jones, CFA (see all)
- Here’s why Diversification is Vital - November 15, 2018
- The Digital Currency Trojan Horse - November 14, 2018
- Private Equity’s Secret Sauce May Surprise You - November 13, 2018