Trump’s tax cuts have triggered a wave of corporate stock buybacks that may steady stock markets but have done little to raise wages or create jobs.
The finance industry, the biggest beneficiary of corporate tax cuts, is expected to take in $250 billion from the corporate income tax cut alone over next decade, an amount that could fund 300,000 elementary school teachers or 6,000 teachers per state for 10 years.
It’s no secret that corporations and the very rich were the main beneficiaries of the Trump tax legislation passed late last year. But what’s less known is that the financial industry was the single biggest target of the largesse. One private equity fund manager,