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Thread: The Outrage Thread

  1. #581
    Senior Member Cowboysrock55's Avatar
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    Quote Originally Posted by boozeman View Post
    Don't take it from me. Take it from the 10th richest guy in the world.

    https://www.bloomberg.com/view/articles/2017-12-15/this-tax-bill-is-a-trillion-dollar-blunder

    Last month a Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine. He asked: "Why aren't the other hands up?"

    Allow me to answer that: We don't need the money.

    Corporations are sitting on a record amount of cash reserves: nearly $2.3 trillion. That figure has been climbing steadily since the recession ended in 2009, and it's now double what it was in 2001. The reason CEOs aren't investing more of their liquid assets has little to do with the tax rate.

    CEOs aren't waiting on a tax cut to "jump-start the economy" -- a favorite phrase of politicians who have never run a company -- or to hand out raises. It's pure fantasy to think that the tax bill will lead to significantly higher wages and growth, as Republicans have promised. Had Congress actually listened to executives, or economists who study these issues carefully, it might have realized that.


    Instead, Congress did what it always does: It put politics first. After spending the first nine months of the year trying to jam through a repeal of Obamacare without holding hearings, heeding independent analysis or seeking Democratic input, Republicans took the same approach to tax "reform" -- and it shows.
    I'm sure Bloomberg has no political agenda. I gave a real life example of how a large company is responding. You gave a political article. I guess you can believe what you want but if you had 1 million dollars in an account earning 5% interest but now see the ability to invest that money and earn 7% because of the tax cuts, what would you do with your money?

  2. #582
    Administrator boozeman's Avatar
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    Quote Originally Posted by Cowboysrock55 View Post
    I'm sure Bloomberg has no political agenda. I gave a real life example of how a large company is responding. You gave a political article. I guess you can believe what you want but if you had 1 million dollars in an account earning 5% interest but now see the ability to invest that money and earn 7% because of the tax cuts, what would you do with your money?
    Keep it. Just like they will.

  3. #583
    Senior Member Cowboysrock55's Avatar
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    Quote Originally Posted by boozeman View Post
    Keep it. Just like they will.
    sacrifice income to prove a point. Worst business decision you could make. Again, AT&T isn't so clearly not everyone is inept at business like you suggest.

    That article is a joke by the way. It suggests that tax cuts should only be handed out through the Earn Income Tax Credit which is a joke and basically encourages people to have more kids to get bigger tax returns.

  4. #584
    Senior Member jsmith6919's Avatar
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    More companies joining in -


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  6. #585
    Senior Member BipolarFan's Avatar
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  7. #586
    One-armed Knife Sharpener Iamtdg's Avatar
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    PEOPLE WILL DIE!!!
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    Senior Member Genghis Khan's Avatar
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  9. #588
    Senior Member 2233boys's Avatar
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    Quote Originally Posted by Cowboysrock55 View Post
    I seriously doubt that. At minimum it will change the amount of capital they are willing to invest in new projects. Any respectable business person would know that if they have the ability to earn greater profits they can take more risks with business investments. They don't get to a position of power without knowing that. For a little evidence to back that fact up:

    AT&T is giving $1,000 bonuses to 200,000 employees after tax bill. AT&T is paying bonuses of $1,000 to more than 200,000 U.S. employees. AT&T's CEO said it was in response to tax reform.30 mins ago The company also increased its capital expenditures budget by $1 billion in the U.S.
    Has nothing to do with their merger right? Make it a permanent raise, and I will be impressed.

    They had a 39 Billion dollar profit last quarter, with 6.9 billion in expenditures.

  10. #589
    One-armed Knife Sharpener Iamtdg's Avatar
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  11. #590
    One-armed Knife Sharpener Iamtdg's Avatar
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