December 22, 2018

Mother Jones: It’s Been a Year Since Trump Enacted Sweeping Tax Cuts. The Rich Won

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The surge in buybacks comes with an “opportunity cost,” says Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy. “You can’t spend money on things like job creation or increasing manufacturing capacity when you’re spending it on buybacks. It is a zero-sum game,” Gardner says. “Stock buybacks aren’t achieving things the American economy most desperately needs. They are simply rewarding a segment of the population that is already well-off and cash-rich.” Read more