Thanks, Donald! Companies Feverishly Pumping Tax Cuts Into Stock Buybacks

Companies have been feverishly putting the savings they reaped from he tax breaks passed in December into their investors' pockets this year.

Share buybacks in 2018 have averaged $4.8 billion a day, double the pace for the same period last year, according to market data firm TrimTabs. That comes following Congress's move to slash the corporate tax rate from the highest-in-the-world 35 percent to 21 percent.

 

https://www.cnbc.com/2018/03/12/companies-are-putting-tax-savings-in-the-pockets-of-shareholders.html

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.