Thread by @econliberties

1/ There’s going to be a bailout for big corporations so we thought it would be useful to show how they’ve been spending their money. Specifically on share buybacks, which is a way of moving money to Wall Street instead of factories and workers.

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2/ So here’s some research we did on the top 50 corporations in America, by revenue, and how much they've spent on share buybacks over the last five years.

1. Walmart: $33.8B

2. Exxon: $7B

3. Apple: $250.2B

4. Berkshire Hathaway: $6.2B

5. Amazon: $0

6. UnitedHealth: $10.6B

3/

7. McKesson: $9B

8. CVS: $13.8B

9. AT&T: $2.6B

10. AmerisourceBergen $5.6B

11. Chevron: $4.9B

12. Ford: $0.8B

13. General Motors: $10.5B

14. Costco: $2.1B

15. Alphabet: $37.8B

16. CardinalHealth: $3.1B

17. Walgreens Boots: $17B

18. JPMorgan Chase: $74.1B

4/

19. Verizon: $5.1B

20. Kroger: $6.2B

21. General Electric: $25.1B

22. Fannie Mae: $0

23. Phillips 66: $7.4B

24. Valero: $8.8B

25. Bank of America: $68.5B

26. Microsoft: $73B

27. Home Depot: $38.9B

28. Boeing: $34.6B

29. Wells Fargo: $66.5B

30. Citigroup: $61.3B

5/

31. Marathon Petroleum: $7.4B

32. Comcast: -$0.1B

33. Anthem: $5.6B

34. Dell: $15.1B

35. DuPont: $8.1B

36. State Farm: $0

37. Johnson & Johnson: $33.2B

38. IBM: $18.9B

39. Target: $12B

40. Freddie Mac: $0

41. UPS: $8B

42. Lowe's: $19B

43. Intel: $33.5B

6/

44. MetLife: $11.5B

45. Procter & Gamble: $26.3B

46. United Tech: $13.1B

47. FedEx: $4.9B

48. PepsiCo: $15B

49. ADM: $4B

50. Prudential: $9B

7/ Corporate executives rewarded themselves when times were good instead of investing in factories and workers to make the things we need. ​And policymakers let them.

Now that times are bad, these executives are asking for a bailout.

8/ Policymakers shouldn't let this destructive behavior continue.

Ban stock buybacks and end this dangerous practice.

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