Depends on what do you mean by "reinvest". If you have $1b in profits and build a $1bn factory you still have to pay almost the same taxes. If you increase pay

Depends on what do you mean by "reinvest". If you have $1b in profits and build a $1bn factory you still have to pay almost the same taxes. If you increase payroll in the current year by $1bn you won't make a profit and you won't pay taxes... but it may not be as good an investment.