Trump’s economic advisor, Bary Cohn, met with a group of CEOs & asked for a show of hands:' how many of the companies would use their tax savings for capital investment in the economy?' Only 2 CEOs raised their hands.' WHY? Past experience has demonstrated that they don’t use it to create jobs; they use it to increase the value of their stock by raising dividends & buying back shares. The GOP also says trillion$ will come back into the US by giving a tax break to companies that repatriate the profits they have stashed overseas. Really? Congress gave a similar “tax holiday” in 2004 to companies that repatriated their overseas money. The CBPP found that CEOs a gain used their money to repurchase and raise the value of their stock and to pay dividends to shareholders. Moreover, many firms laid off large numbers of U.S. workers even as they reaped multi-billion-dollar benefits.
At www.huffingtonpost.com
