Cash Rich Big Business

You’re too busy to notice, so let me draw your attention to an interesting fact: the cash pile that corporate America is sitting on grew by 10% last year. It is now $1,450 billion. An all time record. This is according to Moody’s the big rating service.

And you thought these were hard times!

Corporate America is awash with cash. It just doesn’t want to invest it. Nor, apparently, does it want to pay more in wages. So it just adds to its pile and whistles. Well not quite. It whines about how hard times are and that the government ought to be cutting taxes and giving handouts to encourage investment.

Small business and average families struggle on in this tepid economy. The big boys are just fine.

Oh. And one more wrinkle to think about: much of that cash pile is sitting in offshore tax havens to avoid US corporate taxation. So not only are those companies not paying better wages or investing here at home, they’re not paying taxes either.

What’s that old saying?

One rule for …