In the first month of 2023, stock buybacks hit $132 billion — the highest total ever to start a year.
Instead of using their profits to raise worker pay or invest in job growth, corporations often use them to pad the pockets of wealthy execs and shareholders.
@rbreich Remember in 2000 when candidate GW Bush declared that "If there's a Surplus, it means your taxes are too high! That's not THEIR money! It's YOUR money!" 🤔
Ditto for exploding corporate profits. They can afford to cut their prices amid record #Inflation. 🤬 #WindfallProfitsTaxNOW
Robert Reich
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