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Corporations Prepare to Gorge on Tax Cuts Trump Claims Will Create Jobs


#1

Corporations Prepare to Gorge on Tax Cuts Trump Claims Will Create Jobs

Jon Schwarz, The Intercept

The official line from U.S.-based multinational corporations is that if they get a huge tax break, they’ll bring home the trillions of dollars in profits they’ve stashed overseas and use it to hire tons of Americans. (Nearly 3 million, says the U.S. Chamber of Commerce!)

But now that Donald Trump’s election means it might really happen, corporate executives are telling Wall Street analysts what they’ll actually use that money for: enriching their shareholders and buying other companies.


#2

Once again a Republican administration pumps up the deficit with tax cuts. This time the President insults China that owns much of our debt. China that has been preparing to go off the dollar with other nations around the world. No doubt the GOP are committed to grabbing all they can just like they did under Reagan and Bush. The 1% are global just like Trump and often more honest. But USINC is not the nation Bush had before their "shock and awe".


#3

"But now that Donald Trump’s election means it might really happen, corporate executives are telling Wall Street analysts what they’ll actually use that money for: enriching their shareholders and buying other companies."

Is there anyone with a functioning brain who could possibly believe that the corporations would do anything else? DUHHH!!


#4

This stuff not limited to the USA.

Duetschebank in Germany had a terrible year yet wanted to reward its top executives with lavish bonuses.

In order to pay out those bonuses they had to use Capital in the from of Euros based on deposits. The problem was that this would put their reserve requirements under that which the European Central Bank mandated. So what to do?

It quite easy. They went to the ECB and talked to a few people and the ECB passed a regulation that lowered those requirements. The bonuses were paid. This bank is in a tenuous position from a financial standpoint and many indicate it might well need a bailout from the Government in the near future much like is happening in Italy.

Corruption was the first thing the 1 percent Globalized.


#5

Glorified trickle down, cause it's worked so well in the past. Who buys this crap anymore? Oh, that's right, the president.


#6

These people should be charged with treason and sent to Guantanamo.


#7

Otherwise known as "Quid Pro Quo."


#8

Those stupid enough to watch Faux News will believe in this.


#9

Can we PLEASE bury this this myth, spoon-fed to the working class, that increased profit (by itself) leads to more jobs or better pay and working conditions??? Payroll, and the capital outlays for expansion that may create more jobs are business expenses, profit is what is left after the business expenses (and then taxes). Why would any business person ever hire more people or give raises just becasue their profits went up? Not hiring, and keeping their employee overworked, underpaid, cowed, and un-unionized is WHY their profits went up to begin with!

Anyone who knows even the basics of how a business is run should know this. Being a little familiar with Marx's theories helps even more.


#10

Right on the money. If it was not so "politically incorrect" republicans would advocate slavery to maximize business profits.