1 of 1- Rongone
- Sentient Being
Offline 
- From: Keeping Calm, Sailing On
- Registered: 1/31/2015
- Posts: 2,872
Oooops . . . Gary Cohn embarrassed by show of hands
Gary Cohn was at an event sponsored by the Wall Street Journal discussing the republican tax plan and asked CEO’s in attendance how they felt about the plan. When the CEO’s were asked how many of them would use proposed corporate tax breaks to reinvest in capital expenditures in their companies, only a few raised their hands. Another indication that trickle down economics doesn’t work the way it’s proponents abdicate. That money won’t be used for capital expenditures, increased wages, or increased production. It will probably go to share buy backs and executive bonuses.
Be sure to watch the video in the article.
- Just Fred
- Duke of Cortona
Offline
- Registered: 1/29/2015
- Posts: 3,863
Re: Oooops . . . Gary Cohn embarrassed by show of hands
Of course the "trickle down" economic strategy doesn't work. It hasn't worked for the last 30 years. Why would it work now?
I love the saps that say, "Yeah it hasn't worked since Reagan, but hey, I'm sure Trump will turn that around."
I know a guy, and he is my friend and business owner, whose income is +/- 800 grand per year. Good for him. I asked him if he got a tax cut for his 'small business' would he re-invest it his company, increase his workers' pay, or hire more employees. " Hell, no, why should I if there isn't an increased demand for my stuff? I'll pocket the dough and invest it or take another 2 week holiday to Scotland."
I said, "Thanks for being honest." He told me that if it works out, he and his wife will take me and my wife to Tucson for a week this winter. I told him thanks.
- tennyson
- Exchanger
Offline
- Registered: 2/06/2015
- Posts: 6,654
Re: Oooops . . . Gary Cohn embarrassed by show of hands
And add to that .... many of those that WILL use the money to invest in their companies will further automate putting MORE WORKERS OUT OF A JOB !
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Goose
- Cogito ergo sum
Offline
- Registered: 1/29/2015
- Posts: 13,427
Re: Oooops . . . Gary Cohn embarrassed by show of hands
I wonder why tax cuts to middle class people doesn't "Trickle down".
Millions of working people keeping more of their own money might be more likely to buy a car sooner, take a trip to Florida, hire landscapers, get that basement remodeled,,,,,,,,,,,,,
I guess it only works on rich people?
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.