Is everyone still boasting about how much more money is in their paycheck because of Trump's amazing, wonderful tax cut for the middle class (which expires in 2025 then oops, your taxes go up) or are corporate stockholders boasting? Thanks to Trump, their tax cut never expires. I seem to remember that the justification for the huge tax cut to filthy rich individuals and corporations was that it would actually put more money into the economy and these companies would expand, hire more workers, give some pay increases, etc. and yadda yadda. It was all lies, the majority of us knew it. But it takes reality, like right now, that proves that these corporations did nothing of the sort. They put it right into their shareholders pockets. Republican Tax Cuts Have Put $1 Trillion Back in Shareholders’ Wallets (this number has just been upgraded to 1.1 trillion) Shareholders are winning — but workers are losing out. Corporate share buybacks have exceeded $1 trillion in 2018 with over a week until the end of the year. This shatters the previous record of $781 billion set in 2015. The increase in buybacks seems to indicate that companies are using the cash from tax cuts to buy back shares rather than invest in workers. Corporate share buybacks hit $1.1 trillion in 2018 with a week to go until Christmas, meaning that much of the benefit of the major tax breaks contained in the Tax Cuts and Jobs Act of 2017 appears to have gone to lining the pockets of shareholders. Of the $1.1 trillion in announced buybacks, about $800 billion have already been executed, leaving $300 billion worth of purchases left to be made. The $1.1 trillion-and-counting means that 2018 will shatter the previous record of $781 billion set in 2018. When the bill was being debated, opponents argued that the corporate tax cut would lead to companies spending their windfalls to enrich shareholders rather than on workers, as its proponents claimed they would. In January, Sarah Huckabee Sanders claimed that more than 70 percent of the tax cuts would be returned to workers. However, the record-shattering run of share buybacks would appear to indicate that companies have prioritized boosting their share price over raises, hiring or investment in infrastructure. Per the Bureau of Economic Analysis, spending on nonresidential fixed investment — a good gauge for new spending by businesses — did jump sharply to 11.5 percent in the first quarter, but it has fallen off sharply since. It was down to just 2.5 percent in the third quarter, which is a year-over-year decline of over 25 percent.