I hear claims that the GOP tax bill would bring jobs. Yet the last time corporations were able to repatriate money in 2004, they used it to buy back shares and increase executive salaries.
The tax cut didn’t bring jobs. It didn’t help the economy. It led to the Great Recession of 2007. Ask any CEO today and he or she will tell you corporations don’t wait for tax cuts to invest in opportunities.
Whether you look at history or ask the CEOs, you’ll find that there are no additional jobs to be had by lowering corporate taxes. If we’re going to borrow $1.5 trillion to provide jobs, we should invest it in the country’s future. Infrastructure. Basic research. Preventive health care and advancement of education for a healthy and globally competitive workforce. There are a lot of good options.
But borrowing money to give to those who have already garnered most of the wealth created over the last decade? There’s no sense to be made of that.
Doug Fults
Durango
