Robert Reich

RT @4TaxFairness
BREAKING: Senate Democrats just introduced a bill to increase the tax on corporate stock buybacks.

Each year, billionaire corporations buy back billions of dollars worth of their own stock to make their CEOs and shareholders richer.

They can afford to pay a 4% tax on buybacks.

Feb 15, 2023 at 9:48pmWeb
Show threadLot⁴⁹Feb 15, 2023
@rbreich Why not raise it to 100 percent, or make it illegal like it effectively was when the SEC considered it market manipulation?
Show threadFirefighterGeek Feb 15, 2023
@rbreich It's fine, but I give it a 0% chance of passing.
Show threadjsonFeb 15, 2023
@rbreich They should be illegal again, but some tax is better than no tax. At least now it is comparable to typical sales tax rates.
Show threadTC Won't Give In To LiesFeb 15, 2023
@rbreich
Good: increase tax on stock buybacks
Better: ban stock buybacks
Show threadTC Won't Give In To LiesFeb 15, 2023

@rbreich
Stock buybacks redirect money to corporate owners that should go to:
- product development
- market expansion
- employees
- lower consumer prices

Buybacks distort the market and benefit the very few.
#BanStockBuybacks

Show threadNickFeb 15, 2023
@rbreich lol 4%? I pay 28% federal tax, wtf?
Show threadFight FascismFeb 16, 2023
@rbreich
Why not 40%?
Show threadMarxist FreemasonFeb 16, 2023
@rbreich Pity it won't pass congress #wallstreet
Show threadBallisticadeFeb 16, 2023

@rbreich
4% seems low. Interest on credit card balances are 12% to 20%

Seems to me we need bolder actions on behalf of the collective of average people.

Show threadDugFeb 16, 2023
They can afford to pay a lot more that 4%. This so called accountability is a slap on the wrist, an empty gesture. Stock buybacks should be illegal again.
Show threadMwereyl183bFeb 16, 2023
@rbreich 4% ? It should be more like 30% !
Show threadNutriamixFeb 16, 2023

@rbreich
Yes, they can afford a 4% tax on stock buybacks, but they can also afford a 100% tax on those.

Far better to make stock buybacks illegal again, since it's nothing more than thinly veiled stock manipulation.

Show threadGurtbeef RobeFeb 16, 2023
@rbreich 4%? Um no. How about 40%? And that’s a low number for after negotiations. We need to be starting with 80-90%