*Friendly Reminder*

GOP Tax Law
Here’s a friendly reminder for our friends on the other side of the aisle – like Rep. Roskam at today’s Ways and Means subcommittee hearing – who are touting stock buybacks as good for the economy: 
 
“…Buybacks don't have much direct impact on the economy. This is especially troubling in that Congress estimated that the tax bill would increase deficits by only $1.5 trillion over 10 years, because economic growth would generate $458 billion in new tax revenues. That growth won’t happen if much of the windfall goes into a form of financial engineering that does not do much to increase wages, hire workers or build facilities.” [USA Today Editorial, 3/5/18]
 
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