The past few years have been filled with ear-splitting shrieks of anti-Trumpery. It all started when Donald Trump’s flaxen toupee first graced televisions across America next to the words “for president.” The cries of armageddon intensified most recently when he unveiled major tax cuts. Giving evil corporations tax breaks could only mean one thing: they’d triumphantly hide their money from the rest of the world like treasure-hoarding dwarves.
Except looks like the opposite is happening (see The MASTER List of Companies Creating Jobs, Growing the Economy Due to Tax Reform). Behold, the latest corporation to donkey punch the left’s narrative of economic doom: ExxonMobil.
ExxonMobil Corp. (NYSE: XOM) plans to invest billions of dollars in the U.S. due in part to recently approved corporate tax rate cuts, the company’s CEO said Jan. 29.
Darren Woods, head of the world’s largest publicly traded oil producer, said in a blog post on the company’s website that ExxonMobil expects to spend $50 billion in U.S. projects over the next five years. The company also is “actively evaluating” projects now in planning stages as a result of new tax and regulatory changes, he wrote.
So much for “WE’RE ALL GOING TO DIE!” and “BUT BIG OIL HATES CHILDREN” narratives. Both died with the aspirations of whiny Democrats.
More than $35 billion of that amount is for projects not previously announced, according to company spokesman Scott Silvestri.
“The recent changes to the U.S. corporate tax rate coupled with smarter regulation create an environment for future capital investments,” Woods said, adding ExxonMobil is reviewing “the impact of the lower tax rate on the economics of several other projects currently in the planning stages.”
50 billion dollars is a lot of cabbage. Enough to make quite the impact on an economy. What we’re seeing here is that allowing companies access to more of their own money leads to investments, projects, and business ventures. Not only is forcing them to hand over their dough immoral, but it stifles business boomery. That’s a major problem because, as we’re seeing, booming business is good for America (see Thanks Tax Cuts! Walmart is Making Big Changes for Its Employees).
Let this be a lesson to flabbergasted liberals: success is not a zero-sum game. Just take a look at what ExxonMobil, one of the most hated corporations, did with its extra cash. They
lit it up in flames while laughing at the poor and praising the dark lord of oil invested it into the economy.
Better this cash get put to work the way its earners intended, rather than be sucked up by the biggest corporate bully in America: the federal government.