Apple and the Fruits of Tax Cuts

In Economy, Taxes On

Republican candidates have pretty much stopped talking about their party’s only major legislative achievement under Donald Trump, the 2017 tax cut. Ads touting the tax law have largely vanished from the airwaves. But the Koch brothers — big boosters of the cut and among its biggest beneficiaries — haven’t given up.

Their latest move: spending $20 million to mobilize an army of salespeople who are going door to door trying to disabuse voters of the perception that the tax cut was a big giveaway to the wealthy, offering little to ordinary working families.

But they have a problem: Public perceptions about who benefits from the tax cut, and who doesn’t, are accurate, a point Apple just nicely demonstrated with its announcement of a huge stock buyback.

To be fair, the notion that a big tax cut for corporations — which was the main element of last year’s law — might eventually redound to the benefit of workers isn’t crazy. But the two key words here are “might” and “eventually.”

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