Tax cuts seen fueling continued economic boom

by WorldTribune Staff, January 17, 2019

Fueled by President Donald Trump’s tax cuts, a large majority of U.S. business owners say they are likely to hire more workers in 2019, a new poll found.

A second poll found that investors remain optimistic for the long-term despite Wall Street’s huge year-end dip.

A Zogby Analytics survey of owners, chief executive officers, vice presidents, officers, administrators, and directors found that 79 percent plan to hire more employees this year. Additionally, 55 percent in the survey said it was unlikely they would issue layoffs in 2019.

More businesses in the survey said the tax cuts will help rather than hurt their bottom line.

In the latest UBS Investor Watch Pulse Poll, 71 percent of respondents said they are more optimistic about the 10-year economic outlook than they were just two months ago when it was still a high 68 percent.

The UBS poll found 78 percent believe the economy’s fundamentals are “strong,” and 75 percent said they expect to reach their long-term goals.

Due to concerns over trade policies and Wall Street’s year-end decline, the 12-month and shorter outlook has sunk to 38 percent, down from 61 percent in November, said UBS.

Still, investors seem to see the decline as a temporary lull as 95 percent in the poll said they are sticking to their investment plan.

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