Fox News just showed a segment concerning the GOP tax bill, and highlighted a meeting of large corporate CEO's at which Gary Cohn and one other administration official (I think it was either Mnuchin or Mulvaney) gave a presentation on the tax bill. The moderator mentioned that the top corporate tax rate would be reduced from 35% to 20% under this tax bill, and asked for a show of hands from the 50-60 CEO's in the room as to whether they would used the considerable tax savings for investment in capital and labor.
Only a few hands were raised. One of the guys on the dais (I think it was Cohn) then said "Why aren't there more hands sticking up?," and called for another show of hands. Again, only a few hands went up. Not a good moment for Administration folks touting that the tax cut will trigger an explosion of corporate investment. About all they have is a "promise" from Tim Cook to repatriate a wad of cash Apple has stashed offshore, reportedly on the Isle of Guernsey.
Only a few hands were raised. One of the guys on the dais (I think it was Cohn) then said "Why aren't there more hands sticking up?," and called for another show of hands. Again, only a few hands went up. Not a good moment for Administration folks touting that the tax cut will trigger an explosion of corporate investment. About all they have is a "promise" from Tim Cook to repatriate a wad of cash Apple has stashed offshore, reportedly on the Isle of Guernsey.
