POINT OF VIEW: Tax cuts have already helped small businesses like mine

Under our new tax code, Apple recently announced plans to invest $30 billion in the U.S. economy over the next five years, which would create more than 20,000 jobs.

But America’s largest corporations aren’t the only beneficiaries of tax cuts. Small-business owners, who account for two-thirds of new jobs in this country, are also using their tax savings to make new investments and reward their hardworking employees.

I’m one of them. As the owner of Don Ramon Restaurant in West Palm Beach, I know the positive impact of small business better than most.

Because of the recently passed Tax Cuts and Jobs Act, we will pay lower taxes and qualify for higher deductions, leaving Don Ramon in a better position than ever before. We plan to open a takeout window and set up a customer bar, which would generate up to eight new jobs. We will also install new refrigerators and coffee machines, in addition to making much-needed renovations to better serve our customers.

Perhaps most important, all of our key employees received generous bonuses in December, and they will also see pay increases in the coming weeks. We take great pride in rewarding our workers, and the new tax code makes it much easier to do so.

While Don Ramon is only one small business, just consider the transformative impact of tax cuts nationwide. Florida is home to 2.3 million small businesses, which employ more than 3 million people — nearly half the state workforce. Around the country, there are nearly 30 million small businesses, which provide financial security to tens of millions of workers.

For years, these job creators have paid inordinately high taxes. Under the old tax code, many small businesses were hit with a federal tax burden of nearly 40 percent, only to see it rise as high as 50 percent when state and local taxes were included.

But the new tax code drops the top federal rate to 37 percent while increasing the standard deduction to 20 percent. This is an incentive for small businesses like mine to invest in expansion and job creation, helping me not only compete against chain but also make a real difference in people’s lives.

When we’re left with more of our hard-earned money, we can also donate more money to local nonprofits and other community organizations. Coming from two troubled countries — Cuba and Nicaragua, respectively — my husband and I appreciate the many opportunities that the American dream has given us. And we are honored to give back to the people of West Palm Beach. Local investments tie our communities together and strengthen the social fabric that makes America a truly exceptional country.

I applaud President Trump and congressional Republicans for making a real difference in our lives — and the lives of countless other Americans.


Reader Comments ...

Next Up in Opinion

Opinion: Gun control about saving lives, not waging culture wars

WASHINGTON — You have perhaps heard the joke about the liberal who is so open-minded that he can’t even take his own side in an argument. What’s less funny is that on gun control, liberals have been told for years that if they do take their own side in the argument, they will only hurt their cause. Supporters of even modest restrictions...
Opinion: Respect first, then gun control.

This has been an emotional week. We greet tragedies like the school shooting in Florida with shock, sadness, mourning and grief that turns into indignation and rage. The anger inevitably gets directed at the NRA, those who support gun rights and the politicians who refuse to do anything while children die. Many of us walked this emotional path. But...
Letters This is the time when heroes emerge

This is the time when heroes emerge Peter didn’t know me. I live far away in a small house with my wife, but the sounds of bravery echoed across the vast expanse. A young boy with a military dream heard the sounds of gunfire and was called to arms with his wit and courage. In the face of danger, he stood his post — the enemy was at the...
Opinion: ‘Daily Me’ undermines ability to understand ‘other side’

We live in two Americas. In one America, a mentally unstable president selected partly by Russia lies daily and stirs up bigotry that tears our social fabric. In another America, a can-do president tries to make America great again as lying journalists stir up hatred that tears our social fabric. The one thing we all agree on: Our social fabric is...
Opinion: Parkland school student rises up to challenge gun carnage

WASHINGTON — It was a profoundly poignant image: Thirty to 40 teens huddled together in a small dark room, their downturned faces illuminated by cellphones as they learned about an active shooter prowling their school. Via news apps, these survivors of Wednesday’s murderous rampage at a Parkland, Florida, high school, where 17 were killed...
More Stories