Romney claims his proposed
reduction in corporate taxes will create jobs.
This is bunk.
US Corporate Cash Pile At $1.24
Trillion, Over Half Located Overseas reports Moodys.
Moody's
expects overall business conditions to remain modest over the next year and
expects companies to continue to use cash for shareholder dividends, share
buybacks and acquisition activity. Using
profits to buy your own stock does nothing for jobs, and just enriches
corporate management who own lots of their company’s stock. Corporations have plenty of cash to increase
investment in plant and equipment, but they will not do so unless consumer
demand increases.
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