Workers, innovation, and productivity all suffer when corporations spend their new U.S. tax breaks on stock buybacks.

The deceptively named Tax Cut and Jobs Act slashes the corporate tax rate from 35 percent to 21 percent on the theory that companies will use the extra after-tax profits to make productive investments that will create jobs for Americans.

Workers, innovation, and productivity all suffer when corporations spend their new U.S. tax breaks on stock buybacks.

The deceptively named Tax Cut and Jobs Act slashes the corporate tax rate from 35 percent to 21 percent on the theory that companies will use the extra after-tax profits to make productive investments that will create jobs for Americans.

Workers, innovation, and productivity all suffer when corporations spend their new U.S. tax breaks on stock buybacks.

The deceptively named Tax Cut and Jobs Act slashes the corporate tax rate from 35 percent to 21 percent on the theory that companies will use the extra after-tax profits to make productive investments that will create jobs for Americans.