CEOs: Tax Cuts Won’t Prompt Them To Invest More

This is a very good use of 280 characters in Twitter:

The CEOs, of course, have no particular reason to lie about this. They’re already hoarding cash and could easily boost investment right now—but only if they thought it would earn them a good return. A lower tax rate won’t change that, so there’s no special reason to think they’ll invest more. The rate cut will mostly be used for stock buybacks, increased dividends, and higher salaries for executives.

Needless to say, Gary Cohn knows this perfectly well.