own stocks which are obviously highly concentrated amongst the wealthy, and interestingly enough, that s an effect that will be felt before tax. it will not be recorded as an effect of the tax bill. but it s an effect of the tax bill on the structure of the economy. right. this is an important point that david was making. before tax inequality and the inequality that the tax code either repairs or exacerbates and in this case, exacerbates. the point you make about buy-backs, history has shown in the united kingdom, canada and here in the united states that corporate tax cuts when companies end up with more of that money, if they distribute it, it s either distributed as dividends or it is used for stock buy-backs, which enrich the people who are already enriched. even the stock market gains we have seen, 18% higher this year, a small proportion of the economy gets most of the benefits from stock market gains. so this whole concept of all of these things trickling down just doesn t se