> For example, the Tax Reform Act was sold as incentivizing "jobs and investment"; all it incentivized was share buybacks
So what? If I own a successful company, eventually I'm going to reach a point of diminishing returns. At that point, it no longer makes sense to reinvest my company's profits back into the same company. Eventually, I'm going to use that money to start a new business. Doing that will make more money and create more jobs than trying to scale my old company past the point of diminishing returns.
With a public corporation it's simply a case of management making that judgment on behalf of the collective shareholders.
So what? If I own a successful company, eventually I'm going to reach a point of diminishing returns. At that point, it no longer makes sense to reinvest my company's profits back into the same company. Eventually, I'm going to use that money to start a new business. Doing that will make more money and create more jobs than trying to scale my old company past the point of diminishing returns.
With a public corporation it's simply a case of management making that judgment on behalf of the collective shareholders.