Taxes and Jobs

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.

Romney on Taxes

Romney proposes more tax breaks for the rich. He would eliminate taxation of investment income, reduce corporate taxes, and eliminate estate taxes. After seeing the steadily increasing share of national income going to the top one percent, Romney wants to make it worse.
Reducing corporate taxes as a stimulus for investment is a myth. Corporations have a record amount of accumulated savings that they don't want to invest now. The problem is inadequate consumer demand, not corporate profits.