Small business owner Joseph Semprevivo said in an interview that aired Friday on “Rising” that President Trump’s tax cuts “directly” benefitted his employees.
“Oh, directly,” Semprevivo, the CEO and president of Joseph’s Lite Cookies told Hill.TV’s Buck Sexton this week when asked if the president’s tax cuts benefitted his employees and their wages.
“So what we have as — I always like to refer to them as buckets. Every time we earn dollars, we put in a bucket the tax money that we’re going to actually owe the government,” he continued.
“So when we’re able to take some money out of that bucket, because we freed up dollars from a lower tax rate, we give that to the people, we give that to our team members,” he said. “So we were able to give up to $5,250 in raises.”
“One of my team members, Mike, he has two little girls. He wanted a reliable vehicle, and now he got extra money to pay for a reliable vehicle for his wife to drive for his two daughters,” he said.
Trump fulfilled a major campaign promise with the signing of the Tax Cuts and Jobs Act of 2017.
Critics say the legislation’s benefits largely went to wealthy individuals and corporations, saying that tax cuts for individuals are set to expire after 2025 while those for corporations never do.
Semprevivo’s interview is part of Hill.TV’s Small Business Boom segment with the Job Creators Network.
— Hill.TV Staff
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