Uncertainties are crippling the U.S. economy, and there’s a good chance Thursday’s Supreme Court decision will add to the problem.
U.S. businesses are stacking up profits on their balance sheets, but they’re not investing in new workers and plants.
The No. 1 reason is that executives just don’t see the demand, but this is compounded by policymakers in Washington and Brussels dithering over taxes and government spending, according to Wall Street analysts.
None of this is good news for President Obama, who has had a good fortnight in the presidential race as the topic of discussion has switched to immigration.
As the subject moves back to the economy and jobs, which it surely will do next week with the release of a June jobs report, the weakness of the underlying economy will retake center stage. And fingers will be pointed at both the White House and Congress.
Businesses in the United States don’t know when tax reform is going to become a reality, and they’re flying blind on what corporate or individual tax rates are going to look like in the near future.