President Trump’s Tax Reform is Working
$AAPL, $CMCSA, $WMT
Republicans are rejoicing in the early reaction to their tax bill becoming law.
“Tax reform is working. It really is,” House Speaker Paul Ryan, (R-WI), said at his weekly press conference last Thursday. “It’s working for families. It’s working for businesses. Tax reform is working for our economy.”
The GOP points to companies such as Walmart, Apple and Comcast (NASDAQ:CMCSA) who have pledged to award workers bonuses, increase their minimum wages, or add new investments in the U.S., with President Donald Trump claiming in a speech that he called to thank Apple (NASDAQ:AAPL) CEO Tim Cook.
“When we began our push for tax cuts, I promised that our bill would result in more jobs, higher wages and tremendous relief for middle-class families, and that is exactly what we have delivered,” President Trump said.
Democrats argue that the tax law primarily benefits corporations and the wealthy, which Americans oppose, that bonuses are a one-time benefit, and that Walmart (NYSE:WMT) announced the closing of 63 Sam’s Club stores the very same day it announced their minimum wage increase.
“In terms of designing an ad to attack this thing, it’s almost too easy,” Democratic strategist Brad Bannon said.
However, support for the law has increased since its signing.
The NY-T’s found in a SurveyMonkey-conducted poll in mid-January that 46% of Americans approve of the law, up from 37% in another poll taken just before its passage.
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