Summers Says 'Not the Moment' to Focus on Corporate Taxes

The transcript discusses the potential impacts of corporate tax cuts on economic growth, highlighting that while tax cuts can encourage investment, they often benefit high-income shareholders and may not pay for themselves. Current economic conditions, such as low interest rates and high profit margins, suggest that tax cuts may not be necessary. The discussion also covers the issue of cash held abroad and the proposed territorial tax system, which would tax only domestic operations. The conclusion emphasizes the need for responsible tax reform that addresses budget deficits and corporate shelters.

What are the potential effects of corporate tax cuts on employment according to Glenn Hubbard?

Discuss the distributional consequences of corporate tax cuts mentioned in the text.

What does the text suggest about the current state of corporate investments and the cost of capital?

Explain the concept of 'territorial' taxation as described in the text.

What are the concerns raised about the proposed corporate tax reform in the text?