Elizabeth Warren wasn't the only Democrat to make this claim. She was just the loudest and the most shrill, which is par for the course for her. Cutting the corporate tax rate would do no good, they insisted, because CEOs wouldn't use the money to invest in growth, or employee wages, or new jobs . . . or pretty much anything good at all. They'd use it, according to Warren, on "stock buybacks." She claimed CEOs had told her that. The left in general claimed that the corporate tax cut would result in nothing more than big fat bonus checks for executives and dividend bonuses for shareholders. Leaving aside the fact that dividend payouts to shareholders aren't necessarily bad things at all, those of us with experience in business knew better. Companies don't bust their butts earning cash just to hoard it. I've served on five corporate boards and the discussion was never about how to shrink or stay put. It was always about how to grow. That's what companies want to do.

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