Corporations Prepare to Gorge On Tax Cuts Trump Claims Will Create Jobs - Polidicks

[quote] [U]The official line[/U] from U.S.-based multinational corporations is that if they get a huge tax break, they’ll bring home the trillions of dollars in profits they’ve stashed overseas and use it to hire tons of Americans. (Nearly 3 million, [URL="https://www.uschamber.com/need-pro-growth-corporate-tax-reform"]says the U.S. Chamber of Commerce[/URL]!) But now that Donald Trump’s election means it might really happen, corporate executives are telling Wall Street analysts what they’ll actually use that money for: enriching their shareholders and buying other companies. The Intercept’s examination of dozens of earnings calls and investor conference talks since Trump won the presidential election finds that many executives are telling analysts at large banks that they are eager to take the money to increase dividends and stock buybacks as well as snap up competitors. They demonstrate considerably less if any enthusiasm for going on a domestic hiring spree. Many U.S. multinationals, especially in the technology and pharmaceutical industries, have long resisted bringing their overseas profits back to America — because if they did they’d have to pay taxes on them at the current corporate rate of 35 percent. Their accumulated untaxed foreign profits have now grown to a spectacular $2.5 trillion, an amount equal to about 70 percent of the federal government’s annual budget and 14 percent of the entire U.S. economy.[/quote] source : [URL]https://theintercept.com/2017/01/05/corporations-prepare-to-gorge-on-tax-cuts-trump-claims-will-create-jobs/[/URL] The big shame of the Reagan and Bush administrations is that we didn't learn from them that this shit doesn't work. It sounds good on paper but you know.

[QUOTE=thelurker1234;51630562] The big shame of the Reagan and Bush administrations is that we didn't learn from them that this shit doesn't work. It sounds good on paper but you know.[/QUOTE] This will solidify it from here onwards.

[QUOTE=Boilrig;51630572]This will solidify it from here onwards.[/QUOTE] You underestimate the cognitive dissonance the GOP is capable of.

[QUOTE=Boilrig;51630572]This will solidify it from here onwards.[/QUOTE] they won't care/listen they will blame obama even 7 years in

[QUOTE=Boilrig;51630572]This will solidify it from here onwards.[/QUOTE] people were saying that in 2000 and in 1980

No, no it won't. People don't learn. We lived under 8 years of trickledown voodoo and 8 years of 'god wants americans to be rich' and the economy literally FAILED in at least one sector in both cases and under Dubya, not only failed in more than one area but teetered on the edge of complete depression. People only care about their money and welfare, otherwise these people would not get elected, again and again and yet again. [QUOTE=glitchvid;51630580]You underestimate the cognitive dissonance the GOP is capable of.[/QUOTE] If only. This is the entire country, not just the GOP.

[QUOTE=Judas;51630583]people were saying that in 2000 and in 1980[/QUOTE] My reference is to the all time high of information access we have today, on top of "it was a different world back then, lets try again" idea that people run with, meaning that at least if it fails, it solidifies for a longer period than just 10 or so years.

Except it doesn't. This has been republican strategy since before FDR.

[QUOTE=27X;51630595]Except it doesn't. This has been republican strategy since before FDR.[/QUOTE] I'm referring to voters. The situation will become "if Trump can't fix it, who can", creating a detachment from the Republican side.

I think all of the eggs are in one basket here for Trump and if his term in office isn't the most spectacular thing ever witnessed the GOP is more or less going to lose all legitimacy as a party and probably implode. I think the whole experience however will be good for the democratic party, which hopefully now gets it's fucking act together. Both parties are at an all time low judging by the opposition's disgusting and childish tirades at trump actually winning.

[QUOTE=goon165;51630609]I think all of the eggs are in one basket here for Trump and if his term in office isn't the most spectacular thing ever witnessed the GOP is more or less going to lose all legitimacy as a party and probably implode.[/QUOTE] wishful thinking

[QUOTE=Boilrig;51630607]I'm referring to voters. The situation will become "if Trump can't fix it, who can", creating a detachment from the Republican side.[/QUOTE] and voters elect the GOP. Your synthetic benchmark is just that. [quote] The past was always safer and better than the future and _______ doesn't affect me, so who gives a fuck about it [/quote] has been an issue for many, many decades, and here we are [I]again[/I]. This will only change when A our ability to create and sustain logistical throughput reaches science fiction levels or B when some serious external shit punches the facade of 'everything's great as long you're conservative' wide the fuck open and a shit ton of people start dying because of the type of policies the republicans continue to enact ala global warming about a hundred years from now sans any direct intervention. Your premise of "people will wake up, no one is that _____" is the exact the kind of premise that cost Hillary any chance at winning.

[QUOTE=Boilrig;51630607]I'm referring to voters. The situation will become "if Trump can't fix it, who can", creating a detachment from the Republican side.[/QUOTE] that is, until the next cool dude comes along and says that he can fix it and has the plans, and only he can fix it all. and people will feed into propaganda and vote for him because the average voters are sheep that go for whoever is representing their party.

[QUOTE=Boilrig;51630607]I'm referring to voters. The situation will become "if Trump can't fix it, who can", creating a detachment from the Republican side.[/QUOTE] Except if Trump fails they'll just do like they've done with Bush and just distance from him and say something along the lines of "he didn't do it right". It's not like Trump has the yielding trust of the entirety of the GOP.

I think the best argument I've heard for cutting taxes on the rich is that it allows them to invest into their workforce more. (and by "best" I mean "funniest") But then you hear those same people say that these corporations who make billions in profits already are under no obligation to share these profits with their workforce, effectively admitting that trickle-down as a principle in the real-world is complete and utter bunk.

Is it a rule of nature that corporations are evil and soulless and don't care about anything but money? Why is it that humane corporations that want the best for the people do not exist whatsoever?

The problem with conservatism is that it's adherents think it it can only be failed, not that it can be a failure. If Trump is a terrible president, to those on the right it will be because he wasn't conservative enough.

when trump fails but he manages to stay in power for the next 8 years, all the electoral college will do is elect a trump with a different name

[QUOTE=Bertie;51631750]Is it a rule of nature that corporations are evil and soulless and don't care about anything but money? Why is it that humane corporations that want the best for the people do not exist whatsoever?[/QUOTE] Because it's in conflict with the corporations very existence. This doesn't mean corporations are evil and soulless. But they are fairly amoral and we shouldn't expect much. Which is fine. The world isn't ideal and accepting that lets us move on to figuring out how to work with it.

[QUOTE=Zero-Point;51631727]I think the best argument I've heard for cutting taxes on the rich is that it allows them to invest into their workforce more. (and by "best" I mean "funniest") But then you hear those same people say that these corporations who make billions in profits already are under no obligation to share these profits with their workforce, effectively admitting that trickle-down as a principle in the real-world is complete and utter bunk.[/QUOTE] Couldn't have said it better myself. Many people can say one line and seem right, but they just never think of long-term. It's [B]ALWAYS[/B] short-term satisfaction because their heads are so far up their assses.

Welp, at this point I am expecting a revolution a la francaise if it goes this way... again.

[QUOTE=Zero-Point;51631727]I think the best argument I've heard for cutting taxes on the rich is that it allows them to invest into their workforce more. (and by "best" I mean "funniest") But then you hear those same people say that these corporations who make billions in profits already are under no obligation to share these profits with their workforce, effectively admitting that trickle-down as a principle in the real-world is complete and utter bunk.[/QUOTE] ask anyone from the 80s, they cannot explain it, its easily disprovable now, but giving out tax cuts does not grow the economy

it would grow economy if corporate executives wouldn't be such greedy fucks. We need anti-greedy system. What is it? I don't know tbh.

[QUOTE]the Intercept’s examination of dozens of earnings calls and investor conference talks since Trump won the presidential election finds that many executives are telling analysts at large banks that they are eager to take the money to increase dividends and stock buybacks as well as snap up competitors. They demonstrate considerably less if any enthusiasm for going on a domestic hiring spree.[/QUOTE] The issue at hand here is that they only surveyed public companies--accurate since most US multinationals are shareholder-owned, but there's a wide margin of difference in the responsibilities of a board of directors versus those of a company president, et al. This news should come as no surprise, as a CEO's only responsibility is to please the shareholders, usually by increasing their profits. [editline]d[/editline] This does however illustrate a very dangerous misconception about the US economy; that only the largest and most widely traded corporations are worth paying attention to. I feel this is a symptom of a much larger trend of shallow investigation in the media, ultimately brought on by the expansion of the Internet, like sort of an "armchair journalism" that only reports on what information is most easily available. This article is written as if the investor sentiment of the top .3% of the private sector is representative of the whole economy.

Don't you guys get the fact that by just throwing money at billionaires they will finally have the freedom to invest in the economy? Talk to you guys later, my billionaire master is calling me to come spit shine his shoes- for .29 cents an hour to boot!

[QUOTE=Boilrig;51630607]I'm referring to voters. The situation will become "if Trump can't fix it, who can", creating a detachment from the Republican side.[/QUOTE] GOP voter: "you know ....Mitt Romney was kinda cool."

[QUOTE=MarcusSmith;51634138]Welp, at this point I am expecting a revolution a la francaise if it goes this way... again.[/QUOTE] Nah, people are too complacent now. They'll just take it up the ass and scream 'why!?' instead of doing anything beyond posting angry messages to Twitter or Facebook and think they made a difference. Probably the only way to rile people up is to take away their guns. Maybe not even then.