-
It's Not For You. Don't Ever Forget That
-
The Republicans say that their tax cuts will filter down to the average middle-class worker in higher wages and more jobs. In fact, the cuts don't work and will be disastrous for the economy if that doesn't happen. Guess what? The CEOs and company owners who will make those decisions say they won't be passing the savings along. Last week, when Gary Cohn asked a panel of CEOs who among them will increase investment in their businesses with their tax savings, most didn't respond. Absent a mandate, the money will more likely go to investors and owners. Why? Because they DON'T NEED THE MONEY for business. They already have easy access to capital, and borrowing costs are at a historic low. There are exceptions -- AT&T promised to infuse $1 billion into U.S. operations if they get a tax cut -- but other businesses are saying the money will just go to shareholders. (Los Angeles Times)
Have an opinion? Add your comment below.