Drudge Retort: The Other Side of the News
Friday, December 01, 2017

More than half of North American CNBC Global CFO Council members welcome the GOP tax reform plan, but only one-third think it will lead to higher worker wages.
The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing more than $4 trillion in market capitalization across a wide variety of sectors.
While the GOP plan to lower corporate tax rates to 20 percent remains under debate, less than half of North American council members expect their effective tax rate to be lower in 2018.

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A majority of North American CFOs (54.2 percent) say they support the passage of the Tax Cuts and Jobs Act, which the Senate is expected to vote on Friday, but they also revealed a truth about the limits of trickle-down economics that won't make American workers happy: If tax reform passes, don't expect a raise.

Only one-third of CFOs (33.4 percent) said they think corporate tax reform will lead to increased wages for workers. Twenty-one percent of CFOs said the tax-reform plan will not lead to higher wages, while 45.8 percent were ambivalent or were uncertain of the bill's effect on worker pay.

CFOs are confident that the bill's reforms will have a positive impact on U.S. economic conditions. In addition, 70.9 percent agree (29.2 percent strongly) that corporate tax reforms will create more U.S. jobs, while 83.3 percent agree (20.8 percent strongly) that corporate tax reforms will stimulate U.S. economic growth.

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Didn't see raises following the Bush tax cuts, no reason to believe they will follow this tax cut for the rich. Expect your rent to rise, if you own a home the value will rise temporarily, stocks will rise too but temporarily. We will enter another bubble which will eventually collapse and millions will be left homeless, jobless and destitute while the rich will just be richer. They won't own any more clothes, houses, etc. they already have all they want. They will just own more gold, or other solid investments. Their kids will never have to work for a living but they will have political clout unlike working Americans who are becoming serfs. That is what the Republican Party wants for you and me and worse, my kids and my grandkids. I honestly hate Republicans today.

#1 | Posted by danni at 2017-12-01 11:43 AM | Reply

"CFOs are confident that the bill's reforms will have a positive impact on U.S. economic conditions. In addition, 70.9 percent agree (29.2 percent strongly) that corporate tax reforms will create more U.S. jobs, while 83.3 percent agree (20.8 percent strongly) that corporate tax reforms will stimulate U.S. economic growth."

They know that isn't true but they are required by other Republicans to pretend they believe that crap. We know it isn't true, we've seen this movie before.

#2 | Posted by danni at 2017-12-01 11:44 AM | Reply

Oh, and please stop using that word "reforms." It's a lie, it's not reforms, it's tax cuts for the 1%.

#3 | Posted by danni at 2017-12-01 11:45 AM | Reply

"If tax reform passes, don't expect a raise."

Why on earth should workers expect a raise when the new tax code just disincentivized it?

Same thing about Cohn's embarrassment in front of CEO's: roughly 15% of those in the room said they'd reinvest in capital; the rest didn't. Cohn was surprised, but shouldn't have been: what used to have a 35% inducement now will only have a 20% inducement.

How on earth do these morons believe making something less attractive will cause more people to embrace it???

It's like none of the authors ever passed Econ 101.

#4 | Posted by Danforth at 2017-12-01 11:47 AM | Reply

"It's like none of the authors ever passed Econ 101."

Baloney. They passed, they took higher level courses in economics. They know the truth but they are hired liars.

Have Gun Will Travel
Can Lie will Travel.....to Washington

#5 | Posted by danni at 2017-12-01 12:06 PM | Reply

There was never any reason to believe it would.

#6 | Posted by Sully at 2017-12-02 10:18 AM | Reply

More than half of North American CNBC Global CFO Council members welcome the GOP tax reform plan, but only one-third think it will lead to higher worker wages.

Who in the hell said they were going to get a pay raise from the company they work for? More BS from the left.

#7 | Posted by Sniper at 2017-12-02 01:10 PM | Reply

You libs are damn quiet on this subject.

#8 | Posted by Sniper at 2017-12-03 03:59 PM | Reply

Who in the hell said they were going to get a pay raise from the company they work for? More BS from the left.

Here you go, dullard.

President has said corporate tax cut will boost hiring, wages

www.bloomberg.com

#9 | Posted by reinheitsgebot at 2017-12-03 04:04 PM | Reply

Government of the stockholders, by the stockholders and for the stockholders.

#10 | Posted by morris at 2017-12-04 12:06 AM | Reply

Who in the hell said they were going to get a pay raise from the company they work for?

Poor snoops.

"The average American family will get $4,000 from tax cuts, Trump team claims"
www.washingtonpost.com

"Trump says a big corporate tax cut will boost average incomes by $4,000 a year"
https://www.vox.com/policy-and-politics/2017/10/16/16481962/corporate-tax-4000

"The White House is making a promise: The average American family would get a $4,000 raise under President Donald Trump's tax plan."
http://www.denverpost.com/2017/10/16/trump-tax-cuts/

#11 | Posted by 726 at 2017-12-04 10:15 AM | Reply | Newsworthy 1

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