Further Debunking GOP Claims, Small Businesses Say Tax Bill Won’t Bring Benefits to Workers

This is not what Malcolm Turnbull is saying in Australia. To complain according to Finance Minister Corman is just “Envy Politics” that Corporations and the rich are getting richer. (OD)

 

While corporations are enjoying a permanent tax cut which has mainly benefited their shareholders, small businesses also say the law has done little to even the playing field

Just a few months after President Donald Trump’s tax reform passed, small businesses are pushing back against Republican claims that the law will bolster their ability to hire new employees and give out raises to workers—as corporations reap the vast majority of the benefits of the legislation.

Large corporations made clear even before the plan was passed in December that they would use the $1.3 trillion they expect to save as a result of the law to line the pockets of their shareholders—not invest in their employees and new hires as Republicans claimed. Now, small businesses are saying that their workers aren’t benefiting much from the tax law either.

The advocacy group Businesses for Responsible Tax Reform polled entrepreneurs in Maine, Arizona, Tennessee, and Nevada and found that seven in 10 had no plans to hire new employees as a result of the tax plan, while 60 percent said their workers would not be given raises.

More than half of the owners said the law favored large businesses over small ones and did nothing to put smaller companies on a level playing field with big corporations.

via Further Debunking GOP Claims, Small Businesses Say Tax Bill Won’t Bring Benefits to Workers