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Two CEO’s Rebuff Cavuto’s Attempts To Credit Tax Cuts For Business Growth

Reported by Ellen - January 7, 2011 -

This week, Your World with Neil Cavuto hosted at least two CEO’s who failed to take the host’s bait and credit tax cuts for their recent business growth. Both credited an improving economy overall. (H/T Alan G.)

Tim Solso, CEO of Cummins Engine, told Cavuto, “Our business is growing. We have a very strong business in China, India and Brazil… and that allows us to invest back in the United States.”

Cavuto pressed, “What got you to this point… Would you have done this for example had this tax thing not been resolved?”

No, Solso said, “We took a lot of cost out” and “our emerging markets just, you know, blossomed… He later added, “The tax policy or depreciation rates depending on capital expenditure hasn’t really influenced us. We hire the people when we have the business. We invest the capital when we need to.”

Ford CEO Alan Mulally echoed Solso. Mulally said tax cuts were “important” but, he said, “The best thing is… we invested in the worst of times… I think based on the strength of the products and this gradually recovering economy is why we’re seeing the progress in the automobile industry and the manufacturing industry in general.”

I can just imagine Cavuto muttering into his Wall Street Journal, “Curses! Foiled again!”