The GOP’s Tax Cut Narrative Is Unraveling

The Atlantic: “The most basic criticism of the GOP’s tax cut was that the boons for corporations and their shareholders would far outweigh the benefits for ordinary workers. That’s exactly what seems to be happening. Stock buybacks announced between January 1st and February 15th reached historically high levels, totaling about $170 billion in that period.”

“That’s 28 times larger than the total value of end-of-year bonuses that were credited to the corporate tax bill—some of which had been announced months earlier and had nothing to do with the tax cuts. Companies might be advertising new bonuses. But they’re quietly reaping the benefits of higher profits.”