Last year, U.S. corporate outlays for stock buybacks totaled $800 billion. In May this year, corporate CEOs bought back $174 billion worth of their shares – not one making America’s companies more creative or productive

Last year, U.S. corporate outlays for stock buybacks totaled $800 billion. The buyback pace this year has quickened, as top execs rush to “invest” the savings they’re realizing from the GOP corporate tax cut enacted last December. In May alone, corporate CEOs bought back $174 billion worth of their shares, “an all-time record” for a single month. None of these buyback billions will make America’s corporations more creative or productive. What will these buyback billions do? They’ll simply, as one Pulitzer Prize-winning journalist noted last weekredistribute “even more of the nation’s wealth to corporate executives, wealthy investors, and Wall Street financiers.” Inequality.org co-editor Sam Pizzigati has more.