AP Photo/Richard Drew, File Manufacturing giant 3M has said it will use $1 billion in tax savings for stock buybacks. T rump and Republicans branded their huge corporate tax cut as a way to make American corporations more profitable so they’d invest in more and better jobs. But they’re buying back their stock instead. Now that the new corporate tax cut is pumping up profits, buybacks are on track to hit a record $800 billion this year. For years, corporations have spent most of their profits on buying back their own shares of stock, instead of increasing the wages of their employees, whose hard work creates these profits. Stock buybacks should be illegal, as they were before 1982. Stock buybacks are artificial efforts to interfere in the so-called “free market” to prop up stock prices. Because they create an artificial demand, they force stock prices above their natural level. With fewer shares in circulation, each remaining share is worth more. Buybacks don’t create more or better...