Bloomberg only Democrat to top Trump in 2020 survey of small business owners
52% of respondents said they believe their business will be better off if Trump wins reelection
Michael Bloomberg is the only Democratic presidential candidate favored to beat President Trump during the November election in a Gallup survey of small-business owners.
The poll found that Bloomberg had a slight edge of four percentage points over Trump among small-business owners, 52 percent to 48 percent.
Trump tied former Vice President Joe Biden, but he topped every other Democratic hopeful, though never by more than four percentage points. Matched against former South Bend, Indiana Mayor Pete Buttigieg, Minnesota Sen. Amy Klobuchar and tech entrepreneur Andrew Yang, Trump nabbed 51 percent of support, compared to 49 percent for the other contenders. He was slightly more competitive when compared to progressive Sens. Elizabeth Warren and Bernie Sanders at 52 percent to 48 percent.
“Most small-business owners indicate they have benefited from Trump's 2017 tax law and report that their businesses are in good financial condition today, which would seem to be a positive sign for Trump,” Gallup said.
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There are more than 30 million small businesses in the U.S., according to a 2018 report from the Small Business Association.
The poll, released Monday, was conducted between Jan. 15-24, before the Iowa caucuses kick-started the nominating process. Gallup surveyed 1,234 small business owners with annual revenues between $50,000 and $25 million.
Fifty-two percent of respondents said they believe their business will be better off if Trump wins reelection while just 41 percent believed their bottom line would improve if a Democrat defeats the president.
“Most small-business owners indicate they have benefited from Trump's 2017 tax law and report that their businesses are in good financial condition today, which would seem to be a positive sign for Trump,” the poll said.
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An estimated 69 percent reported benefiting from the 2017 Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21 percent from 35 percent. Many Democratic hopefuls have vowed to slightly increase the rate, while some, including Warren and Sanders, plan to restore the previous rate.
Trump frequently appeals to voters by touting the “great economy we’ve had in the history of our country,” and warning that Democrats will derail growth while dangling the possibility of another round of tax cuts. The record-long economic expansion is currently in its 11th year, although most economists agree that growth is beginning to taper.
“If any of these people that I’ve been watching on this stage got elected, your 401(k)s would be down the tubes,” Trump said in October. “You’d destroy the country.”