New Tax Law Benefiting Shareholders More Than Workers So Far http://ift.tt/2Fmoq3H
WASHINGTON ― Since President Donald Trump signed the Republican tax bill in December, hundreds of retail companies have announced employee bonuses totaling more than $3 billion, which Republicans have said proves them right that the new law benefits regular Americans. According to several estimates, firms have announced roughly $200 billion worth of stock buybacks this year, inflating the value of company shares by reducing their supply. “Stock buybacks are windfalls that drive up the value of investment portfolios for CEOs and high-flyers,” Sen. Ron Wyden (D-Ore.) said in a Senate floor speech this week.
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