A corporate tax-hiking, buy America focused president Joe Biden wouldn’t necessarily crush the stock market and the bottom lines of Corporate America.
At least that’s the message to investors and CEOs from University of Chicago professor and former chair of the Council of Economic Advisors under president Obama, Austan Goolsbee.
“Well, I don’t think that it would mean that,” Goolsbee said on Yahoo Finance’s The First Trade on whether Biden’s economic policy proposals would mean less investment and hiring. “I think that the $2 trillion corporate tax giveaway that we had at the beginning of the Trump administration has not proven to increase investment by anything like what they said. It mostly served as just a windfall handout. And I think that if you back to a totally reasonable level of corporate tax and you couple it with direct public investments as well as incentives for companies to make new