She also made $29,000,000 in 2022 for herself, cause she worked so hard and made so many cars herself. Ha
this post was submitted on 17 Sep 2023
1472 points (98.4% liked)
Memes
45581 readers
1 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 6 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Stock buybacks need to be made illegal again. I don’t understand how it’s anything other than market manipulation.
Ronald Regan really fucked this nation over. . .
He’s was the first paid actor, just a puppet so the people in control can remain unknown. Skull and bones secret society was/is a real thing.
It’s not a secret, we know who the billionaires are that are funding this madness, but the only people that could put a stop to it, are the ones benefiting from them.
So we'll have to eat them for real.
The announcement of the first TRILLIONAIRE should cause a worldwide civil war.
Nixon never should have been pardoned
Shareholder primacy was from the Henry Ford days.
It makes sense if they're pulling out of the stock market entirely, in that case it's just settling the books. Any other reason is to manipulate the price. The whole stock market is a house of cards controlled directly by a few self-titled elites though, so chicanery is literally built in and always was.
I agree. I could live with it if it were merely a way to defer taxes, but the U.S. has something called the stepped-up basis. This allows people to inherit stocks without paying tax on the capital gains. The wealthy can live their whole lives without paying any tax. Both stock buy-backs and the stepped-up basis severely undermine the stock market and tax system.
The real parasites in society.
Thank you. And amazing to see you have positive upvotes.
Whenever someone makes a comment like this on reddit, an army of accounts would appear to downvote and argue against it.
I'm convinced the narrative on reddit is highly controlled on these kind of topics.
Either that, or the retards of WSB were the culprits and they haven't found their way to lemmy yet.
Now that I think of it, perhaps those same accounts were used to manipulate retail traders on WSB... hmmm..
It's very obviously is. Stock buybacks aren't allowed almost anywhere else in the world for a reason. It just leads to terrible behavior. This coupled with insanely low effective corporate tax rates means companies horde capital and do buybacks instead of doing other activities that are more economically beneficial to the country. Like increasing worker pay...
If I'm being honest, I don't understand this angle. Why are stock buybacks immoral or wrong? Isn't it simply using extra cash in a company to buy back stock from shareholders? With the same demand and reduced total stock, of course the price is going to go up. But the total market capitalization remains the same. I don't understand why this is somehow wrong. Can someone help me out?
Because executive pay is largely given in shares, so it incentivizes the leadership to invest funds in buy backs to inflate the price of the very shares they own instead of investing that money into employee pay or other company centric initiatives.
The other reply is correct regarding the macro effects of the practise. The more immediate issue is that it allows shareholders to avoid paying dividend taxes. So they can effectively defer paying taxes until they realise any capital gains. This is a huge benefit, as the present value of money is worth much more than the future value of money. However there is an even larger benefit in the U.S. Dependents can inherit stocks at the current price and avoid paying any capital gains tax. This is called the “stepped-up basis.” It’s an insane tax loophole. Together stock buy-backs and the stepped-up basis allow the ultra wealthy to pay little to no tax, ever. They take out perpetual loans to pay for living expenses, guaranteed against their holdings.