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 any of that think share buybacks are some super evil corporate trick, I have a challenge for you. Simply do a search online for companies buying back most stock. Do not use raw dollars it will always be Apple. The metric to use is % of market cap. If buybacks are such an evil trick, just buy every stock on that list. I will give you a hint on some of the companies currently at the top of the list Kohls, Tupperware, Whirlpool, Meta these stocks have stunk this year. It is no magic bullet to
companies enriching the executives or the shareholders. I do own all 4 of those stocks, currently have losses on 3 of the 4. I still think they are good stocks, but only a small part of that is the buyback.

markansas

@southbeachguy Shell Reports Record $11.5 Billion Profit .. this is what i found on shell oil
Shell said it would set aside $6 billion in the third quarter to buy back shares
https://www.reuters.com/business/energy/shell-total-continue-buyback-bonanza-after-record-profits-2022-07-28/

SW-User

@southbeachguy companies are constantly spending money on everything except what benefits the customer and the employee, or a emergency rainy day fund in case a global catastrophe happens. No company should ever require a bailout, or money from the government during a pandemic, or a tax cut when taxes are no where near 1950s booming economy levels, if they had been using their money wisely. What did companies do after the Trump tax cut that was supposed to generate lots of new jobs? Buy back their stock? What do they do with COVID bailouts? Buy back their stock? How many pharmaceutical companies still spend a substantial percentage on research and development, instead of marketing or mergers and acquisitions (like Valeant, which tried to then survive on drastically hiking drug prices).

F-ck shareholders.
F-ck shareholders.
F-ck shareholders.