Yet shareholders, not workers, are far bigger direct winners from the Tax Cuts and Jobs Act of 2017. American companies have lavished Wall Street with $171 billion of stock buyback announcements so far this year, according to research firm Birinyi Associates. That’s a record-high for this point of the year and more than double the $76 billion that Corporate America disclosed at the same point of 2017….
S&P 500 companies have devoted about $5.6 billion to bonuses and wage hikes because of the tax law, according to research from academics Rick Wartzman and William Lazonick as well as the Academic-Industry Research Network.
http://money.cnn.com/2018/02/16/investing/stock-buybacks-tax-law-bonuses/index.html?iid=EL
