Cohn is the best they got to sell this sack of garbage and he's just spouting gibberish.
There are times to to cut taxes, but this is not one of them.
Our economy is almost at full employment. Yet pay is not going up for the rank and file.
Companies are simply awash in capital and if they wanted to use some of those trillions they're holding overseas (wink wink...nudge nudge) to invest they could do so. Money used to invest can be written off as investment and isn't taxed.
Profits are at record highs and most large corporations have been buying their own stock back at a furious rate to bump up their stock prices so that the executives (whose compensation is heavily weighted toward stock grants, option awards etc) hit the bonus goals in their pay plans. Or they are investing heavily in robotics, AI, and continue to offshore operations wherever possible to take advantage of vastly lower pay structures in countries like Mexico, Colombia, Costa Rica, Macedonia, Poland, India, China, Vietnam etc.
A tax cut without corresponding tax penalties for failing to expand operations, and/or raise rank and file, pay etc. is just a gift. But if you build in penalties the tax code will just accelerate the race to the bottom with companies seeking cheaper and cheaper payrolls and it will also accelerate the drive to automate.
This tax cut plan was supposed to be "reform", but like the ACA Repeal and Replace where "replace" was quickly jettisoned "reform" was quietly dropped and only the "cut" remains.
This plan is an outright gift to the highest marginal tax brackets (and there are members of the punditocracy that are whining because the top marginal bracket has not been eliminated) and to the largest corporations. This blatant giveaway is funded by raising the taxes of the lower, middle, and upper middle classes by eliminating or restricting the few tax deductions that still remain for the W2 and 1099 wage slaves.
That Cohn was stupid enough to get a lot of these CEOs in a room and poll them on their plans if this gift passes with journalists in the room is stunning. What an idiot!
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