The presumptive Democratic nominee can appeal to the working class by slapping a higher tax rate on corporations that lavish money on their chief executives but don’t adequately pay their workers.
We are usually diametrically opposed to taxing spending, but what about a corporate luxury tax on stock buybacks? Buybacks are the latest scheme to inflate executive and top shareholder pay while at the same time making capital unavailable when needed. Claim chapter 11, negotiate debts, lay off employees, rinse and repeat. Moral hazard.
We are usually diametrically opposed to taxing spending, but what about a corporate luxury tax on stock buybacks? Buybacks are the latest scheme to inflate executive and top shareholder pay while at the same time making capital unavailable when needed. Claim chapter 11, negotiate debts, lay off employees, rinse and repeat. Moral hazard.
Especially considering buybacks used to be illegal.
No points for guessing which president legalised the practice.