At Wednesday night's Democratic debate, the talking points from the candidates were pretty predictable. Chief among them was New York City Mayor Bill De Blasio's class-based nonsense that the 1 percent and corporations were the only ones benefiting under President Donald J. Trump's economy. Well, the facts show that most small businesses disagree with this and that most actually trust the president when it comes to enacting policies that benefit their business.
According to CNBC, "small business owners, in particular, remain high on the president’s pro-business agenda of lower taxes and deregulation, according to a survey released Tuesday by Wilmington Trust."
The poll itself was pretty evenly balanced amongst different parties with 39 percent of respondents identifying as Republican, 30 percent independent, and 26 percent Democratic. The rest declined to identify or were unsure. Nonetheless, the majority of respondents approve of the president's handling on business matters.
via CNBC:
The survey, of more than 1,000 privately held businesses taken between May 24-June 14 showed that 59% of respondents “strongly or somewhat” approve of the way the Trump administration has handled business-related issues. Also, 53% said the administration’s policies have had a positive impact on their businesses, while 46% say their confidence has increased since the 2016 election.
“Small businesses have benefited from the Trump approach,” Tony Roth, chief investment officer at Wilmington Trust told CNBC. “They don’t see a recession coming. It’s not imminent or evident to them so they continue to be supportive of the administration. I think if that changes, their outlook or approach will be very, very different.”
Roth also said, however, that some small businesses are not as impacted as much by trade, hence why they may choose to ignore other aspects of President Trump's economic plans such as tariffs. But, if a recession were to hit because of imposed tariffs on countries like China, then small businesses would suffer.
Join the conversation as a VIP Member