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Opinion
Michael R. Bloomberg

This Tax Bill Is a Trillion-Dollar Blunder

Congress and President Trump put politics ahead of smart reform.
The hour is late, but the fight is not over.

The hour is late, but the fight is not over.

Photographer: Andrew Harrer/Bloomberg

Last month a Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine. He asked: "Why aren't the other hands up?"

Allow me to answer that: We don't need the money.