Trump’s tax law cut the corporate tax rate from 35% to 21%.
What did corporations do with the money saved?
They didn’t invest it or raise wages.
They spent a record $1 trillion on stock buybacks the year after the law went into effect.
Nothing trickled down to workers.
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@rbreich first of all they increased revenue collections to the US Treasury, as predicted.
But secondly, what do you think a stock buyback is? It's a corporation giving up its money into the rest of the economy, which is what we want them to do in general anyway!
Stock buybacks are a good thing, as it represents a corporation taking money that it has that it can't use and giving it up for other people and other purposes to use as they need.
Including the US government.
