Question
please give feedback in refence to the statement below Article link: https://www.usatoday.com/story/money/2017/04/26/small-businesses-get-hefty-tax-cut-trump-plan/100941120/ Small businesses get hefty tax cut in Trump plan, is the article that
please give feedback in refence to the statement below
Article link: https://www.usatoday.com/story/money/2017/04/26/small-businesses-get-hefty-tax-cut-trump-plan/100941120/
Small businesses get hefty tax cut in Trump plan, is the article that first caught my attention while scanning through USAToday. With a lot of tax cut proposal information being released, small businesses have a chance of being strongly affected. The supposed proposal by President Trump would cut the current 35% corporate tax rate significantly down to just 15%. Gary Cohn, director of the National Economic Council, said the stimulative effects of the tax cuts will spur economic growth and help make up for much of the anticipate increase in the deficit. The article suggests this tax cut for small businesses will allow for these businesses to better compete with large corporations and encourage others to start small businesses.
I believe small businesses are important to our economy and always make it a priority to shop with small businesses over large corporations. Small businesses are great for the economy and allows for entrepreneurs to establish their ideas and create business from them. Tax cuts for small businesses will give people more reason to open small businesses which are a huge staple in our economy.
For me personally, I know that this tax cut could impact a couple of the small business I frequent (dry cleaners, etc.). Tax cuts could allow them to establish even more competitive rates with large corporations and still make more money. I generally try to shop locally and try to spend my money at small businesses. Its a lot easier for me to give money to somebody when I can see the contribution benefit their lives. Hopefully these tax cuts will lower prices and encourage more people to open small businesses.
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