The Inflation Reduction Act includes a 1% Stock Buybacks Tax!

Corporate executives spent $881 billion last year alone using this trick to inflate stock prices and CEO pay, instead of investing in workers, wages, and innovation. The result increases the racial wealth gap while doing nothing to add real value to the company. It’s a trick Wall Street loves for juicing the stock market.

A Stock Buybacks Tax will disincentivize stock buybacks for even happening, and when corporations still do it, this tax will make sure working families get some benefits from it through increased funding for fighting climate change and expanding healthcare nationwide.

Write your Senators! Tell them to pass the Inflation Reduction Act with the Stock Buyback Tax.

https://ourfinancialsecurity.org/?link_id=4&can_id=96ca627017cea4c6d1a6cc2480b3c1bd&source=email-re-stock-buybacks-tax-is-a-big-win-now-make-sure-it-happens&email_referrer=email_1627099&email_subject=re-stock-buybacks-tax-is-a-big-win-now-make-sure-it-happens

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southbeachguy · 46-50, M

As for the 1% tax it is just a foot in the door. Democrats hate the lower corporate tax rates passed under Trump, they are doing everything possible to raise corporate tax revenue. The 15% global minimum tax is horrible, the buyback tax is horrible. Corporations should pay no taxes, all dividends and capital gains should be taxed at regular income tax rates. That would actually be extremely friendly to taxpayers making under 400,000 all the way down to 0. Those making over 400,000 would actually pay more in taxes than the current system.

badminton · 61-69, MVIP

@southbeachguy Corporations pay very little to no taxes, in part because most of their income is declared non-taxable. When they do pay taxes the super-wealthy pay a much lower rate than the average person. Corporations used the 2017 tax cut entirely for stock buy-backs, which create no jobs or help the over-all economy.

Ever since the Reagan administration there has been an ever-widening gap between the billionaire/ corporate class and the rest of us. Stock buy-backs and off-shore tax havens should be totally illegal (they were legalized under Reagan.) Or at the very least stock buy-backs should be heavily taxed. Congress should restore ALL the New Deal era regulations on the financial industry. The 1929 and 2008 crashes prove the financial industry cannot be trusted to regulate itself.

We the people should force corporations and the super wealthy to do their patriotic duty and pay their fair share of taxes.

southbeachguy · 46-50, M

Okay things like they used the money entirely for buybacks are dumb. The total amounts may end up being similar, but it is company by company. Again be careful what you ask for, the first alternative to share buybacks are acquisitions. I would guess your politics would mean that you do not like companies getting larger and large to squeeze out the small companies? Tax havens are 100% overrated and also unrelated to share buybacks. If you owned a gas station 50-50 with your brother. Every year it made about 100,000 you let him keep the 100,000 you grow your ownership stake 5% every year for the next 10 years till you own 100%. That would essentially be a share buyback. Do you see anything wrong with that?@badminton