timelets

As a result of the tax reform, the taxpayers subsidized corporate waste to the tune of $583.4B. Instead of an investment boom, the reform fueled a stock bubble.

https://www.wsj.com/articles/the-investment-that-cost-apple-9-billion-in-2018-11545925184

When the market was riding high, companies bought back shares at a furious pace, juiced by the tax savings they reaped from the December 2017 passage of the Tax Cuts and Jobs Act. The law enriched companies by slashing the corporate tax rate to 21% from 35% and making it easier for firms such as Apple to shift foreign earnings to the U.S.

S&P 500 companies bought back $583.4 billion worth of their own shares in the first nine months of 2018, according to S&P Dow Jones Indices, up 52.6% from the same period in 2017 and just shy of a full-year record.