Over 800 billion most coming from tax cuts were spent last year on buybacks.Remember all the talk about how companies would use the tax savings on R&D and expansion? Cap ex and R&D budgets are still about the same ,simply adjusted a bit for inflation. More importantly buybacks are what drove the market last year . They're down some this year with expectations of a recession next year is being given as the reason for reduced purchases.Oh, man. Returning the corporate rate back to 35%? What about all those additional stock buybacks they had planned? And they’re gonna have to re-hire the accountants who figure out how to get their actual tax rate much lower than 35%!
Lol. He is a media darling. I look for him to run for Mayor of NYC after this is all over.
corporations are already paying roughly 12% on taxes when you factor in loopholes.