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tax cuts dont work says the commies/libs
Posted on: January 7, 2019 at 17:50:53 CT
afleet MU
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PMorgan's report, which relies on information gathered in early November from more than 1,800 businesses with $100,000 to $500 million in annual revenue, backs up an array of data showing continued U.S. economic resiliency despite concern over international trade disputes and volatility on Wall Street.
Last year's GOP-led tax cuts, which reduced the top corporate rate from 35 percent to 21 percent, appear to be benefiting many small and mid-sized businesses' bottom lines more than trade-related price increases are hurting them.
Indeed, 66 percent of mid-size businesses plan to hire more full-time workers this year, and some 80 percent plan to ramp up compensation, JPMorgan found. Small business owners, garnering from $100,000 to $20 million a year, were more conservative, the lender said: Just 36 percent plan to hire more employees and only 41 percent expect to raise wages.
While protectionist trade polices have pinched some smaller companies — toolmakers relying on metal imports, for example, that cost more after double-digit tariffs on steel and aluminum — most operators remain confident.
Nearly 73 percent of mid-sized companies described themselves as optimistic about the U.S. economy in 2019. While that's a drop of 16 points from last year, it still encompasses nearly three-fourths of such firms.
And 91 percent of all survey participants plan to keep up or increase capital spending on buildings and equipment in the coming year.
https://www.washingtonexaminer.com/business/main-streets-hiring-woes-show-us-labor-markets-growing-muscle
Last year's GOP-led tax cuts, which reduced the top corporate rate from 35 percent to 21 percent, appear to be benefiting many small and mid-sized businesses' bottom lines more than trade-related price increases are hurting them.
Indeed, 66 percent of mid-size businesses plan to hire more full-time workers this year, and some 80 percent plan to ramp up compensation, JPMorgan found. Small business owners, garnering from $100,000 to $20 million a year, were more conservative, the lender said: Just 36 percent plan to hire more employees and only 41 percent expect to raise wages.
While protectionist trade polices have pinched some smaller companies — toolmakers relying on metal imports, for example, that cost more after double-digit tariffs on steel and aluminum — most operators remain confident.
Nearly 73 percent of mid-sized companies described themselves as optimistic about the U.S. economy in 2019. While that's a drop of 16 points from last year, it still encompasses nearly three-fourths of such firms.
And 91 percent of all survey participants plan to keep up or increase capital spending on buildings and equipment in the coming year.
https://www.washingtonexaminer.com/business/main-streets-hiring-woes-show-us-labor-markets-growing-muscle
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tax cuts dont work says the commies/libs - afleet MU - 1/7 17:50:53