The thing to understand about buybacks is that they serve no legitimate economic purpose. They're pure transfer; no surplus.https://twitter.com/froomkin/status/1029000777459802112 …
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Alex Russell Retweeted Dan Froomkin/PressWatchers.org
The thing to understand about buybacks is that they serve no legitimate economic purpose. They're pure transfer; no surplus.https://twitter.com/froomkin/status/1029000777459802112 …
Alex Russell added,
Is that partly due to the tax law allowed multinationals to bring back their off-shore profits at a lower tax-rate, and one thing they could do with that cash is buy-back stock?
Related, but even worse than it looks. Will address in thread.
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