Time is running out to get BOTH new Marketplace Sock designs for only $5/month.
Don’t wait – this special offer ends soon!
It was a probably unintentionally revealing moment for White House economic adviser Gary Cohn.
Cohn was being interviewed at a Wall Street Journal CEO Conference yesterday. Obviously, the tax bill was top on the list of questions. At one point, WSJ Associate Editor John Bussey turned to the audience, most of whom were from the corner office, and asked them if a tax cut would make them invest more.
1. Tax-overhaul backers say corporate rate cut will encourage investment by businesses
2. During #wsjceocouncil interview with Gary Cohn, WSJ asks CEOs to raise hands if they'll boost investment if rates cut
3. Few CEOS raise hands
4. Cohn asks: "Why aren't the other hands up?" pic.twitter.com/5PI60NlW0A
— Tim Hanrahan (@TimJHanrahan) November 14, 2017
Why aren’t the other hands up? Well, there are a whole lot of reasons, because business is complicated. But we’d be remiss not to mention that the entire premise of the corporate tax cuts, according to congressional Republicans and the White House, is that companies will spend more on wages, hiring, investing in facilities in the U.S. and so on. Then that money will trickle down to workers.
That is, unless CEOs decide not to invest more.
We talked with Kevin Hassett, another White House economist, for quite a while earlier this month and couldn’t sum up that point any better than these few seconds of tape.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.