I am afraid that you are the "dummy". The 84% continue to invest their money in the stock market where the financial gains are robust. Stock investors do not sell their stock except to buy other stock or investments to make themselves more money.So what do those 84% who own all the stock do with their money?This is how Corporations spent their tax windfall and I have never heard anyone call Corporations "evil":How many times have you read/heard Democrats/progressives complain about how corporations are evil. That businesses only interest in profit. That they should be taxed more. Dummy Joe Biden will on Wednesday propose a tax strategy that would increase the U.S. corporate tax rate to 28% from 21%
Good example of how ignorant people are is this comment:
- Former President Donald Trump’s signature tax law, the Tax Cuts and Jobs Act, cut taxes for most Americans. Its benefits went mostly to the rich.President Joe Biden wants to raise trillions of tax dollars from the wealthy. It's a reversal from Donald Trump's signature tax law.www.cnbc.com
For you dummies out there:
Do you think that corporations took the tax cuts and :
1) Buried the extra money in the back yard or
2) did they hide it in their mattresses.
What do you think they did?
Well for one thing they brought back from offshore where THEY were not paying 28% taxes more than $1 trillion of overseas profits
So what did they do with that $1 trillion... bury it the back yard or hide it in their mattresses?Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a report showed Thursday.www.bloomberg.com
What do you think they did? OH yea... they paid the $1 trillion to corporate Execs.! Yea that's it.
OK did these execs bury it in the back yard or hide it in their mattresses?
The point is you idiots that don't understand how money buried in the backyard or hidden in the mattresses doesn't do anything...much less for those that buried or hidden the money!
So what happens?
I'd be happy to explain but you idiots probably haven't read down this far as it is with your 30 second attention span!
Some things that may have happened to that $1 trillion and the savings in corporate taxes.
A) Manufacturers built more factories, hired more people, bought more goods and services.
B) Companies invested in start-up companies taking greater risks because they had more money to risk!
All in all $1 trillion brought back was almost all re-invested and not as you dummies think buried in the back yard or hidden!
- "Corporations are spending 154 times as much on stock buybacks as they are spending on workers’ bonuses and wages. Authorizations for stock buybacks, which overwhelmingly benefit the wealthy, have increased by $1 trillionsince the tax law was passed, while workers are getting $7.1 billion in one-time bonuses and wage increases.
- The richest 1% own 40% of all stock; the richest 10% own 84%. [National Bureau of Economic Research/Washington Post] Stock buybacks waste money that could be used for useful investments, creating jobs and higher pay.
- A total of 238,290 private-sector job cuts have been announced at 361 companies since the tax law was passed by Congress. [Job cuts spreadsheet] The actual job-loss total is higher, but some big companies, including Amazon and Wells Fargo, have not offered precise figures in their layoff announcements."
- You have no clue.
Bury in the back yard or hide in their mattresses?
What happens with their 84%? Hmmm....Where does it go? If those 84% sell all their stock, what would be their prices? What happens?
Oh yea... they'll bury it in their backyard or hide in their mattresses! Yeh... that's the ticket! Dummy!
You need some education outside of the local pub because you have no clue. They do not invest it in people like you, for sure.