I’m calling on SEC Chairman Clayton to open a public comment period to review the SEC’s current rules around stock buybacks, which haven’t been updated in over a decade.pic.twitter.com/2k0cQQ0yAc
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So far this year, corporations have announced more than $480 billion in stock buybacks, overwhelmingly benefiting top executives and wealthy shareholders, and leaving middle class workers behind.
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It’s just wrong for big corporations to pocket massive, permanent tax breaks and reward the wealth of top executives with more stock buybacks, while giving workers pink slips and outsourcing jobs.
We should #RewardWork, not just wealth.
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SEC must revisit its rules around stock buybacks to ensure that corporate executives are not boosting the sales of their own stock while ignoring the needs of their companies’ workers. We need an economy that works for workers & not just those at the top. https://www.baldwin.senate.gov/press-releases/public-review-of-outdated-stock-buyback-rules …
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Yep! And the vast majority of USA Citizens will see it in a glaring slap-your-face reality kind of way when they do their taxes in Q1 2019.
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