(David Gray/Reuters)The Republican-led Congress approved a massive corporate tax cut last year on the premise that executives would put the money saved to good use. “The tax cut was very worthwhile for business,” said David Kass, finance professor at the University of Maryland. Unless you’re being paid to believe otherwise, you don’t see a tax-cut-induced surge in capital spending, at least not yet. “It’s too soon to make any sort of final call on the tax cut’s effect on business investment. “Buybacks tell you nothing about the ultimate disposition of that tax money.

Source: Washington Post December 14, 2018 22:18 UTC