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.