Larry Summers critiques that the Trump tax holiday for U.S. multinational corporations may cause inadvertent consequences.

Rose Prince

2017-01-17 12:42:00 Tue ET

Former Treasury Secretary and Harvard President Larry Summers critiques that the Trump administration's generous tax holiday for American multinational corporations may have inadvertent consequences.

This Bloomberg news article and video clip summarize Summers's critiques in several bullet points.

When these corporations repatriate offshore cash, this cash is unlikely to be spent on domestic job creation and R&D innovation.

This cash might go into greater empire-driven M&A expansion, opportunistic low-cost share buyback, and financial reorganization.

This managerial hubris can translate into bigger bonuses and cash windfalls for many senior executive managers to the detriment of minority shareholders.

This managerial rent protection not only entrenches key corporate blockholders but also exacerbates income and wealth inequality in Corporate America.

The supply-side tax cuts and infrastructure expenditures move beyond voodoo economics with extraordinary uncertainty.

Can Trump's economic policy reforms prove their worth in due course?


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Jim Cramer provides 5 key reasons against the purchase and use of cryptocurrencies such as Bitcoin, Ethereum, and Ripple.

Becky Berkman

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Jim Cramer provides 5 key reasons against the purchase and use of cryptocurrencies such as Bitcoin, Ethereum, and Ripple.

As the TV host of Mad Money, Jim Cramer provides 5 key reasons against the purchase and use of cryptocurrencies such as Bitcoin. First, no one knows the ano

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Modern themes and insights in behavioral finance (Part 2)

Chanel Holden

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We assess how stablecoins and blockchains can combine to strengthen the U.S. Treasury bond market after the recent U.S. congressional passage of the GENIUS Act.

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In the broader context of stablecoins for asset tokenization worldwide, many governments now seek to enter the global markets for stablecoins and other U.S.

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Sirius XM pays $3.5 billion shares to acquire the music app company Pandora.

Jonah Whanau

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Sirius XM pays $3.5 billion shares to acquire the music app company Pandora. This acquisition would form the largest audio entertainment company worldwide.

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President Donald Trump delivers his first state-of-the-union address.

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2018-01-29 07:38:00 Monday ET

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President Donald Trump delivers his first state-of-the-union address. Several key highlights touch on economic issues from fiscal stimulus and trade protect

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U.S. inflation has become sustainably less than the 2% policy target in recent years.

Jonah Whanau

2019-08-03 09:28:00 Saturday ET

U.S. inflation has become sustainably less than the 2% policy target in recent years.

U.S. inflation has become sustainably less than the 2% policy target in recent years. As Harvard macro economist Robert Barro indicates, U.S. inflation has

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