That's only because it's a LIE.
That's what republicans have claimed since Reagan, who lied.
April 4 2019
Companies in the S&P 500 spent $806 billion on stock buybacks in 2018, blowing away the previous record of nearly $590 billion set in 2007. The information technology and financial service sectors were the biggest spenders, with Apple leading the pack. When share prices plunged in the fourth quarter it only encouraged companies to spend more, setting a fourth consecutive quarterly record for buybacks.
On February 10, 2016,
Carrier Air Conditioner, a division of
United Technologies, announced that it was moving its manufacturing operations to Mexico.
The practice has come under scrutiny by members of Congress, who criticized companies for using their extra tax benefits to boost the value of their own shares instead of investing in outside growth or their workers.
Shortly after becoming President-elect, Trump and Vice-President elect
Mike Pence announced a deal with Carrier to keep some of the manufacturing jobs in Indiana, while others would still move to Mexico, in exchange for large tax credits granted to the corporation.
May 23 2019
Recent evidence suggests that
workers aren't getting much benefit from 2017's corporate tax cuts, and Harley-Davidson (
HOG) looks like a prime example of employees getting left out in the cold.
The Republican tax law slashed the corporate rate to 21 percent from 35 percent, leading proponents to contend companies would use the windfall to increase their investments in labor or business expansions. That playbook isn't panning out so far.
After getting its taxes lowered, Harley-Davidson has announced a plant closing with the loss of 800 jobs, and it's buying back hundreds of millions of dollars worth of its outstanding shares.
The Wisconsin motorcycle manufacturer illustrates a pattern across Corporate America since tax cuts were enacted: Companies and shareholders profit, but workers see little gain.
