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Another bold, progressive idea from top D’s out this AM: Sens. Schumer and Sanders tell corps if they want to buy back shares to raise stock price, they must first invest in their workers and communities (wgs, sick leave, pension, health benes). [thread] nytimes.com/2019/02/03/opi…
I view this as a response to 3 things: rising inequality (stock markets holdings highly skewed), weak corp investment, and fact that Trump tax cuts boosted buybacks, not worker pay or corp investment.
Because corps can just pay out more dividends if buybacks are blocked, taxing dividends (and other income from wealth) at normal/higher rates must be part of such plans, as they mention in their piece.
No, this isn’t going to be legislated in this Congress. But the D’s are doing exactly what they should be: showing the electorate an alternative agenda targeted at the disparities Trump ran on addressing but is only deepening. [end]
