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Is the GOP Tax Plan as bad as You’ve Heard?

December 12, 2017 By Jeremy Jones, CFA

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.

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Jeremy Jones, CFA
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Richard C. Young & Co., Ltd. was ranked #5 in CNBC's 2021 Financial Advisor Top 100. Jeremy is also a contributing editor of youngresearch.com.
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