Hey guys, remember that time when Prznint Stupid’s then-chairman of the council of economic advisors Gary Cohn asked C.E.O.s to raise their hands if they were going to spend their tax-cut savings on investments, and almost no one did?
VIDEO: CEOs asked if they plan to increase their company’s capital investments if the GOP’s tax bill passes.
A few hands go up.
“Why aren’t the other hands up?” Gary Cohn asks.#WSJCEOCouncil pic.twitter.com/TD2oAlN27S
— Natalie Andrews (@nataliewsj) November 14, 2017
Haha, Gary, Joke’s on you!
“The Trump administration’s $1.5 trillion tax cut package appeared to have no major impact on businesses’ capital investment or hiring plans, according to a survey released a year after the biggest overhaul of the tax code in more than 30 years. The National Association of Business Economics’ quarterly business conditions poll, published on Monday, found that while some companies reported accelerating investments because of lower corporate taxes, 84 percent of respondents said they had not changed plans. That compares to 81 percent in the previous survey published in October.
As a reminder, the White House claimed that the Billions for Billionaires Bill would lead to a boom of new spending which would lift all boats, and instead the bill only lifted the yachts.
Whodda thunkit? Everyone.