People are starting to see the new federal tax law for what it is—a huge corporate giveaway financed on the backs of the middle class.
A group I feel has been overlooked, though, is small businesses.
The law gives a permanent 40 percent tax cut to big corporations but does little to strengthen the economic might of small businesses.
Instead, it creates an even more complicated tax code that gives every advantage to our corporate competitors. It simply doesn’t treat small business owners like job creators, when it’s small businesses that create two-thirds of all new jobs and employ half the nation’s workforce.
I might see a nominal cut in my taxes this year, but it won’t be enough to hire an employee, give raises or grow my business.
Lawmakers hope that with a few extra bucks in our pockets, small business owners will forget that huge corporations and the wealthy are getting the vast majority of the benefits.