Sunday, March 18, 2018
Reich on stock buybacks
And how they hurt the economy as a whole. They only increase stockholder share price while keeping worker wages flat or worse. It is an artificial method on increasing stock prices not based on real value. It drains money from business investments and wages. The sole purpose of stock buybacks is to create more wealth for the already wealthy while not giving one f__k for the repercussions on the economy. Btw, the latest tax scam bill has incentivized some of the biggest stock buybacks in years, telling us exactly what those tax cuts were for.