Big CEOs’ Thanksgiving Tax Feast


Inequality.org has an article about the video Big CEOs’ Thanksgiving Tax Feast.

The trouble with this video (not the article) is that it does not explain why tax cuts won’t produce more jobs at higher wages. I’d like to ask the people who think that tax cuts for corporations will stimulate the economy, why do they think that a company that is sitting on lots of cash because they can’t find anything worth investing in will suddenly decide to invest if they have more cash? If companies can’t find customers for what they can already produce, why would they think they could make money by producing more? Corporations are doing fine boosting their profits by cutting production and cutting wages. If they don’t sit on the cash they accumulate, they use it to buy up the competition so that they have more power to keep prices up in the face of falling demand. Monopoly power has never been good for the consumer no matter what Robert Bork wrote in his book “The Antitrust Paradox”.

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