Robert Reich- American corporations don’t need a tax cut. They’re already hugely competitive as measured by their profits—which are at near record highs.
The White House says corporations will use the extra profits they get from the tax cut to invest in more capacity and jobs. Rubbish. They’re now using a large portion of their profits to buy back their shares of stock and to buy other companies, in order to raise their stock prices. There’s no reason to suppose they’ll do any different with even more profits.