Remember what Republicans called the “Tax Cuts and Jobs Act”?
As you know (if you’ve been paying attention), the “Jobs” part of the Republican bill was a huge lie.
Corporations didn’t generally invest in their companies, their workforce, or create jobs. They spent BILLIONS buying back shares to boost the stock price (executives’ bonuses get a boost when the company’s stock price goes up).
Five companies blow $55 billion in Q1 to prop up their own shares.
Wolf Street