Opinion: Trump handed big business a massive tax cut, and all he got in return was embarrassment. By lopezlinette.
One would think after Trump handed his friends in corporate America a big tax windfall they would return the favor and contribute substantially to US economic growth; but instead there was almost no boost in investment despite the fact that a study from theA swarm locusts, a plague of frogs
To add insult to injury, it isn't just that big business took its gains from the tax cut and didn't reinvest them in the US economy, it's that it took them and decided those gains weren't nearly enough. The moment the tax law was passed corporate America started demanding even more tax benefits from the Trump administration, according to a report fromFirst you have to understand that, in theory, the law represented something of a deal between the government and corporate America.
But again, that deal wasn't enough for corporates. After the tax law passed in 2017 their lobbyists descended on the US Treasury like a biblical plague. You see, while Congress had written the new law, the Treasury had to write the rules for actually implementing the tax changes.
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