companies are already well capitalized and can bring on as many employees as they need according to john shin, who is a foreign exchange strategist at bank of america merrill lynch. in fact, i think he is quoted as saying companies are sitting on a large amount of cash. they're not financially constrained. shin, who conducted a survey of more than 300 companies asking their plans for a tax overhaul. and said they're all basically focused on their shareholders and engaging in buybacks. so as the fed looks at this, and they're saying there is not a linkage between the tax cuts in investment. in fact ceos are saying they're going to do share buybacks. as the fed is looking at that and your policies, are share buybacks generally, are they going to increase wages? >> well, i don't think share buybacks would increase wages. the usual linkage would be investment in capital and equipment would if they occur order to the extent that they occur would help raise the productivity of the labor force. and in boosting their productivity, would likely end up raising wages. but the linkage occurs through capi