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.
this post was submitted on 02 Aug 2024
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Especially considering buybacks used to be illegal.
No points for guessing which president legalised the practice.
Hell yes
And then you'll see even more companies using contracted workers instead of hiring employees.
Don't get me wrong, it's a needed move, but bastards will remain bastards, and CEOs are bastards.
Options should also be taxed as income from labor for social security and income tax
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