By Heather Long | Washington Post

President Donald Trump’s top economic adviser, Gary Cohn, looked out from the stage at a sea of CEOs and top executives in the audience Tuesday for The Wall Street Journal’s CEO Council meeting. As Cohn sat comfortably on stage, a Journal editor asked the crowd to raise their hands if their company plans to invest more if the tax reform bill passes.

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Very few hands went up.

Cohn looked surprised. “Why aren’t the other hands up?” he said.

He laughed a little to lighten the mood, but it didn’t cause many more hands to rise. Maybe the CEOs were tired. Maybe they didn’t hear the question. It was a casual poll, but the lukewarm response seemed in tension with the much of the public enthusiasm among corporations for a tax overhaul.

The president and his senior team have kept arguing the tax plan would unleash business investment in the United States – new factories, more equipment and more jobs. But, perhaps as the informal poll suggested, there are reasons to be doubtful that a great business investment boom would materialize.

First, American businesses are already enjoying record profits. If they wanted to …read more

Source:: The Mercury News – Business

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