La Colombe founder: What every CEO knows but won't tell you about the proposed tax bill | Opinion
And I can tell you what no other CEO wants to tell you: Casey is right when he says that a half-trillion dollars of corporate tax giveaways proposed by the GOP aren’t going to do a thing for the middle class, or create a single job.
Because what every CEO knows but won’t tell you is this: A tax break for their company simply means a fatter bottom line.
Not jobs. Not investment. Just more money in the pockets of the folks like me.
That’s bad policy, and it’s time to set the record straight.
But what every CEO knows but will not tell you is that the reverse conditions are actually true — this is not an economy to goose. If anything, the present business landscape is red hot and over-stimulated. Cash and capital are flowing heavily with unprecedented amounts of money looking for a home for investment, interest rates are extraordinarily low, and the stock market is at top-row, nosebleed heights.
A CEO has a powerful fiduciary duty to return all profits to shareholders — not to the employees, or the suppliers, or the community and certainly not to the unemployed or left behind. Let me say that again: Profit goes to shareholders (and the CEO) and not to the employees.
A tax code designed to increase corporate profits will benefit a single group — investors. The same investors already bathing in an unprecedented investment cash inventory and who are proportionally the most wealthy among us.
La Colombe founder: What every CEO knows but won't tell you about the proposed tax bill | Opinion