It appears that remedial economics needs to be taught to all congressional Democrats, most journalists, the CBO, many economists, and liberal think-tanks so they can learn what corporations will do with their 14% rate cut and how the economy will be affected along with government revenues throughout the United States. 

The corporations will spend it, invest it, or save it. 

It appears that a significant portion of the 14% will be spent on wages and bonuses.  When those wages are paid, the federal government will get between 10% and 37% in income taxes.  It will collect  up to 12.4% Social Security taxes and 2.9% Medicare taxes.  States will all collect their income taxes, then the employees will spend a significant portion generating additional sales and other taxes throughout the U.S., and then those businesses where they spend the money also generate many taxes.  The  overall tax take for government is much higher than the 14% cut.  The multiplier effect on the economy is amazing.

While on paper it may appear that federal revenues would go down because of the cut, bringing back the money from overseas and allowing the private sector to keep more money allows a tremendous multiplier effect.  Allowing the private sector to keep the money would clearly help every state and local taxing body because they would get more, not less. They would not have to rely on the federal government to redistribute money after keeping a lot for themselves.

Critics scoffed at the idea that wages will go up because of these tax cuts, yet some businesses are raising their minimum wage to $15, which is over a $6,000-per-year raise, so why won't the critics admit they were wrong and cheer?  Other businesses will have to compete, so they will raise their wages, too.  Democrats have pushed for a $15 minimum wage, so why aren't they cheering?  This increase is more than anything workers got during Obama's eight years. 

Businesses could also invest in new plants and equipment, which will again generate huge amounts of income taxes, payroll taxes, sales taxes, and property taxes.  The take for government at all levels will be much higher than the 14% cut to the federal government.

Businesses could also pay higher dividends, which will be taxed at up to 23.8% along with state taxes.  Again, the excess money would trickle through the private sector, generating more taxes and fees.  The higher dividends would in turn lead to higher stock prices, which would generate capital gains taxes up to 23.8% plus state taxes.  If the dividends and capital gains go to retirement funds, including public pensions, they will function just like tax revenues. 

Even if the corporations took the savings and just saved them or paid down debt, it would up their book value, which would increase capital gains taxes.  Since almost all stocks trade at higher than book value, the take for the government would greatly exceed the 14% lost. 

The only use I can see that may not pay off completely is stock buybacks, which should support higher stock values but are hard to quantify.  Since stocks are trading pretty rich right now, and since corporations want to grow and not stay stagnant, they should not spend a high percentage of the 14% cut on this option. 

There is a great chance that tax revenues will increase instead of going down with this bold tax reform and a significant chance that the revenues to all levels of government will go up substantially.  There is also almost a zero chance that the economy won't perform better with the tax cuts than without them.  The only reason I can see why politicians and others don't support corporate tax cuts is because they want government control and don't really care that revenues would be higher with the reform and don't mind that the economy would otherwise be slower and more people would end up being dependent on government instead of getting increased job opportunities. 

Schumer, Pelosi, and governors from high-tax states should cheer for these federal tax cuts because the states themselves will clearly end up with more money.  The fact that they don't support the cuts indicates that they either don't understand or don't care.

Some have said that lowering the tax burden in the U.S. and going to the territorial tax system will cause businesses to move overseas.  It really takes people with a lack of economic common sense to argue that lowering the regulatory and tax burden to more competitive levels will cause more companies to move offshore.  They have it backwards.  More businesses will stay here, expand here, and move here if we have lower rates, because we are the biggest economy in the world.