President Donald Trump and the Republicans’ tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers, than expected. Worse, the Trump Slump is erasing the bump the stock market received from the tax cuts. $600 billion, at least. That’s how much more than expected the companies in the S&P 500 are on pace to save. Corporate profits for the S&P 500 companies did rise nearly 24 percent in 2018, the biggest jump since late 2010. About half of that income growth came not from an improvement in operations but from lower corporate tax bills.
— source bloomberg.com | Jan 14, 2019