Reply #221: "Bait and Switch" Economics

[JHB]

Those tax cuts were sold on the notion that our industrial plant was older than out competitors (most of whom had to rebuild entirely after WW2), and needed updating. The lower taxes would free up money for corporations and investors to build new plants and save jobs.

Instead, most of the money went into corporate Merger-mania and buyouts, and the exploration of new ways to shuffle money into their pockets. And when new plants were built, it was in Mexico or elsewhere overseas, not here.