I wanted to chime in as a business owner with some simple, easy to grasp common sense arguments about why this tax scam with never work.
As a business owner, CEO and founder of 5 companies over the past 34 years. I am currently a business consultant for start-ups and budding entrepreneurs, bizvisionconsulting.com and non-profit greenenergyproject.earth. I can tell you the argument being made by lawmakers that the tax bill will benefit the economy by stimulating corporate investment in growth and adding employees is pure fantasy. Businesses in general have never been more cash rich at any point in recent US history. Companies add employees based on demand, not because they get some additional funds from a tax adjustment. They aren't going to bring funds back to the US or change any business practices because of a change in the tax code. Public corporations are responsible to their shareholders not to any particular country, with stock ownership spread out all over the world, often bought by institutional competitors to US interests, they don’t care a wit about the fortunes of human beings beyond their ability to make a purchase. If that sounds cynical, it not. That’s how it works.
Growing businesses already get a tax break through low tax rates and high write-offs. They often don’t pay any taxes as they don't show a profit on the books as they grow.
It’s middle and low income Americans that make up the bulk of the consumer class. This bill will further affect their ability to own a home and make major purchases. In affect it lowers demand.
Sixty years ago the economy was different. There wasn't the level of automation and manufacturing growth was high so it required a large manual workforce. Congress is acting out of that old paradigm. We are are no longer the supplier to the world, we are the world's largest consumer of outside goods. It is a lie to tell public that this can be reversed in this generation given that we abdicated the high growth manufacturing sector of renewable energy to the Chinese.
People in congress are not business owners so they are easily duped by lobbyists, who by the way wrote this bill. An average congressman couldn't write a tax bill if you held a gun to their head. The investor class thinks that the economy is best represented by how well the stock market performs since that is what affects their net worth. Companies will use this tax cut revenue increases to pay dividends and buy back stock, thus increasing valuation even if they don't sell one more widget than in the previous quarter.
The average person will find out that nothing really changes for them personally long term other than the gap between them and the ultra wealthy growing wider with fewer opportunities for upward mobility for the average citizen. These are the simple truths about the tax bill.