The Globe and Mail printed a column by an economist whom I think is particularly out to lunch stating that people were surprised that the reduced corporate tax rates were not resulting in additional capital expenditures and therefore growing economic activity. Hopefully, the reader has now opened up The Limits of Debt and Black Hole Economics and realizes that cutting corporate taxes is not only an approach which cannot produce more activity but worse, makes government balance sheets worse off, adding to the already over-burdened economy.
All that corporations are doing, of course, are buying back stock and not investing – as the Black Hole mathematics clearly underlines must occur. For the American One Percent Party (a.k.a. the Republicans), not only is their platform of cutting corporate taxes doomed to fail, but worse, it is indeed only making things worse for the vast majority of the American population.