"No one abandons a sound business plan because of the taxes they will pay."

True.  The impact of income taxes on business decisions is too often overstated.  Business decisions rely heavily (though not exclusively) on the projected return on investment (ROI), and taxes have both a positive and a negative impact.  The positive impact is often overlooked.

Let's say a business can invest $100,000, and expects to generate $120,000 in revenue.  In a 35% tax bracket a $100,000 investment costs the business just $65,000 on an after-tax basis, since $35,000 would be lost to taxes without the investment.  The $20,000 profit also gets taxed at 35%, leaving an after-tax profit of $13,000.  On an after-tax basis, the business generates a 20% ROI.

Lower the tax rate to 15% and the after-tax outlay has jumped to $85,000, since the income tax savings is now just $15,000.  In a 15% bracket the after-tax profit is $17,000.  What's the ROI on an after-tax basis?  It's still 20%!