Corporations Sitting On A Record Amount Of Cash

CNBC reports that “the current members of the S&P 500 are sitting on about $800 billion in cash and cash equivalents, the most ever, according to data by Birinyi Associates, even as the unemployment rate has ticked back above 9 percent.” Still, many conservatives are claiming that corporate tax cuts are the key to boosting job creation. (HT: Americablog News)