I was watching CNN in the office break room this morning; they were talking about how numerous large corporations are sitting on large amounts of cash. They refuse to invest it in new ventures or expansion which would benefit the employment outlook and the economy as a whole. No, they just sit on it ! In some cases they actually have to pay the bank to keep it for them rather than getting paid interest !
This tells me that it is time NOW for MASSIVE corporate tax increases ! Massive and retroactive !
With a large increase in tax revenue the Government could do all sorts of good and useful things….
Public works projects to repair, replace, and upgrade our infrastructure which would immediately decrease unemployment and increase spending throughout the economy. The improvements to our infrastructure would help the economy for years to come. And of course, the corporations would be getting their money back from all the government contracts. Sounds like a win win situation to me !
We could do the same thing with our social safety net; make sure public assistance is available for the needy, more and better education and job training, and health care for all.
Also, we could upgrade and improve our Armed Forces. At least make it so they don’t have to worry about getting paid or not ! Another thing, we could bring the military back home; they could spend their money here in the USA !
All of this is vastly better than the Tea Party idea of lowering taxes while our people languish in the chaos of unemployment and our infrastructure rots ! And all the while the corporations are sitting on their cash…..