Why A Corporate Tax Cut Won't Boost Economic Growth
Forbes Magazine
Excerpt: This month, in one of its regular business surveys, the Atlanta Federal Reserve Bank asked executives, “If passed in its current form, what would be the likely impact of the Tax Cuts and Jobs Act on your capital investment and hiring plans?”
Only 8% of the executives surveyed said the bill would make them increase hiring plans “significantly.” Only 11% said they would significantly increase their capital investment plans. A solid majority answered either “no change” or “increase somewhat.”
Other surveys reached similar conclusions.
White House Economic Advisor Gary Cohn had an awkward moment last Tuesday at a Wall Street Journal CEO Council meeting. Sitting on stage to promote the tax cuts, Cohn watched as the moderator asked the roomful of executives whether their companies would expand more if the tax bill passed.
When only a few hands rose, Cohn looked surprised and said, “Why aren’t the other hands up?”
So maybe they were distracted or needed a minute to think. Fair enough. A few hours later, White House Economist Kevin Hassett appeared at the same event and asked the same audience the same question.
He got the same result: only a few raised hands.
Higher profit margins will land in executives' pockets.
The New Yorker: "The Shocking Numbers Of The Republican Tax Plan"
Do Tax Cuts For The Rich Promote Prosperity And Job Growth?
We All Pay Higher Tax Rates Than The Rich: A Lesson In Class Warfare
Trump And Taxes
Meme Collection
Trump And Taxes
Meme Collection
"Trump Tax Plan Looks Like A Plutocrat's Dream," The New Yorker
"Trump’s Tax Plan: Low Rate For Corporations.. And For Companies Like His," New York Times
Trump's Tax Cuts Ignore History And Arithmetic In Order To Make The Rich -- And Himself -- Richer
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Ben Franklin On "No New Taxes"
Ben Franklin On "No New Taxes"
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