“We hit a shameful GOP tax law milestone: wealthy corporations have bought back $500 billion of their own stock, betraying their employees to line the pockets of their CEOs and shareholders. Despite Republicans’ promises that this law would benefit workers, corporations like Walgreens have used their massive tax savings to make the rich even richer.”
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“While shareholders and executives are cashing in on these hundreds of millions of dollars in tax cuts, working families are being left in the dust. Kroger saved $922 million this past year thanks to the Republican tax plan and $260 million in the first quarter of 2018 alone.”
“The Republican tax reform package that was supposed to raise wages and spur hiring has instead funded a record stock buyback and dividend spree, benefiting investors and company executives over workers. ”
“But most polls have also found the tax law is viewed unfavorably. Recent polls from Quinnipiac and Monmouth Universities have each found disapproval of the law exceeding approval by 7 percentage points. The Quinnipiac poll shows the law is popular with Republicans but not with Democrats and independents.”
“In their push to sell the law to a skeptical public, Republican lawmakers swore that those benefits would “trickle down” to the rest of us through an expansion in business investment, leading to job and wage growth. Six months in, however, there is little evidence that tax cuts are accelerating either employment or investment growth. ”