Small business owners are pushing back against Democratic mis-characterizations of President Donald Trump's signature Tax Cuts and Jobs Act.
More than a year after the legislation went into effect—slashing personal and corporate tax rates across the board—the focus has shifted from worker bonuses and wage increases to shrinking tax refunds. The latter, resulting from a decrease in the level of taxes paid throughout the year and changes to the Internal Revenue Service's withholding formula, has increasingly become fodder for Democrats eager to portray the cuts as a "scam" to benefit the wealthy.
In reality, the issue is more complicated, as Alfredo Ortiz, the president of the Jobs Creator Network (JCN), told the Washington Free Beacon. Ortiz's group, which represents a diverse coalition of small businesses and bills itself "as the voice of Main Street," has been working to educate voters on the benefits of the tax cuts ahead of the April 15 IRS filing deadline. JCN believes that if Democrats are allowed to win the debate over tax refunds, it will make it easier for the party to eventually push for a full repeal of the Trump tax cuts at a later date.
"There's a lot of attention on the size of the tax refund," Ortiz said during an exclusive interview. "Folks need to understand that you're going to be paying less money to the government because of the tax cuts, so you'll be getting less money [back] when it's time to file."
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3 comments:
Tax cuts were a 100% sham. Job growth was already strong, we did NOT see any miraculous boom in growth, and the cuts did NOT pay for themselves. While we saw the number of corporations not paying taxes increase, I'm out an addition $3k this year due to finally getting a raise. I'm just a regular middleclass smo.
I consider myself middle class, probably toward the upper end of middle, and the tax reforms definitely did nothing for me! My guess is that the more you make the more you will pay. I was expecting to owe some, but I owed twice what I thought I would. Loss of deductions and caps on the taxes you can claim really hurt me. I will have to have even more with-held from my check this year. I will see a reduction in after-tax income.
Other than health care small business is doing better now than all the Obama years.
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