US corporate capital expenditure growth hit a high of 13% in Sept 2017 and has decelerated ever since. It’s now growing at an anemic 2.5%, despite tax/regulation cuts. They spent $1.1trln in 2018 buybacks...
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Corporate buybacks are better for investors than dividends for taxes. One can change that.
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Complicated. The shares bought back are investors selling stock to invest elsewhere. Taxable. The tax deferred is capital gains from price increase. I think borrowing to do a buyback is a bit strange. Though investors may see it as acess to cheap capital.
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