CEOs Discuss Their Plans for Tax Cuts

JM Ashby
Written by JM Ashby

What will the rich and corporations do with the windfall provided to them by the GOP's massive tax cuts?

The Trump regime claims they will give it back to their employees in the form of higher wages, but we all know that's not going to happen, right?

But we're a bunch of diabolical liberals. What do we know? Why should anyone take our word for it?

You don't have to. Reuters contacted numerous corporations and received very similar responses from them.

The chief executive of Honeywell International Inc (HON.N), Darius Adamczyk, said tax reform will “offer greater flexibility for Honeywell,” adding that the industrial conglomerate would invest more cash in the United States to pay for dividends, mergers and acquisitions, share buybacks and paying down debt.

Amgen Inc (AMGN.O) CEO Robert Bradway said on Wednesday any tax reform would be incorporated into its capital allocation plans, noting the drugmaker expects to continue to raise its dividend and buy back shares. [...]

Reuters contacted the 100 largest companies by market value in the benchmark Russell 2000 Index of U.S. small and mid-cap stocks, as well as another 50 in that index that are not covered by securities analysts. None of the 17 companies that responded to Reuters mentioned boosting their headcount.

Even if some companies would use the windfall to hire more workers, they would be in the minority. This is not going to benefit the vast majority of Americans.

  • muselet

    Dividends, mergers and acquisitions, share buybacks and paying down debt.

    Yeah, those things will get the economy humming along at the Trump administration’s fantastical 6% annual growth rate.

    And if I flap my arms really hard, I’ll fly to the Moon.


    • Draxiar

      Oddly, that reminds me of the episode of Gillgan’s Island where Gilligan made these big wings, attached them to his arms, and jumped off the hut and actually maintained some height.

      • Until he was told that flying like that was impossible! Only then did he drop.

        Gilligan’s Island was a ridiculously unrealistic television program. The “millionaire” actually cared about other people!

  • The only thing these big companies allow to trickle down to us is their pollution, their corruption and their disdain. They need tax breaks like we need more holes in our heads.

    • ninjaf

      Companies are reporting record profits. Why would giving them more money mean more jobs? They already have more money and are not creating jobs.

      But why use empirical evidence?

  • And who benefits from those buybacks and dividends? The stockholders, of which the officers of the company are typically large ones. Gee.

    • Tony Lavely

      You weren’t supposed to notice that…

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