Tumblr Icon RSS Icon

Corporate Cash Holdings Have Grown 59 Percent Since 2008

By Pat Garofalo  

"Corporate Cash Holdings Have Grown 59 Percent Since 2008"

Share:

google plus icon

The Wall Street Journal noted today that “non-financial companies in the Standard & Poor’s 500-stock index were holding $1.12 trillion in cash and short-term investments in their most recent reports, up 59% from $703 billion in the third quarter of 2008.” This data seems to fly in the face of conservatives who claim that corporations need more money (in the form of new tax breaks) in order to start hiring. Earlier this month, House Majority Leader Eric Cantor (R-VA) inadvertently made the progressive argument about corporate taxes, when he pointed out that pocketing money from tax savings is simply “what business does.” But maybe the corporations really need cash on hand to purchase necessities since, as Mitt Romney explained today, “corporations are people.”

‹ In Campaign To Defeat Political Opponent, Subprime College Exerts Potentially Illegal Pressure On Its Own Employees

Romney Repeatedly Dodges Questions About Raising Taxes To Boost Massachusetts’ Credit Rating ›

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.