(May 19, 2020 at 12:05 pm)BrianSoddingBoru4 Wrote:(May 19, 2020 at 11:56 am)Brian37 Wrote: No, I read it before I posted it in both threads. And you want to know why? I found it last night after debating another friend having nothing to do with this website. I read it when I found it, and actually sent it to HIM on twitter before I posted it here in either thread.
If you read it, why did you say it was about tax cuts to billionaires and corporations? The article doesn’t mention anything about that.
Boru
OH MY THOR!
YES it is about stock buybacks. You keep missing the point Nick said what I was saying, DECADES OF MISMANAGEMENT!
Start with Reagan. He put policies in place that put the rich class before workers. And I can tell you election cycle after election cycle, midterm and Presidential, for the past 40 years corporate America has won in congress and SCOTUS 99.999999999 Percent of the time. That CLIMATE set up the environment to allow the buybacks that Nick rightfully objects to. The article even points out these tactics by Wall Street CEOs didn't exist and were Illegal prior to Reagan.
Tax law matters. If you constantly favor the rich and powerful, they will create conditions that lead to the buybacks. Not having to pay taxes, and advocating deregulation leads to conditions that got us to this point.
This isn't brain surgery. Why did the former WWF get away with lying about calling themselves a real sport? Because they had enough sucker viewers who believed it was a real sport. So when the WWF had to face the fact they were not a real sport, they changed their name to WWE. It is just like knowing Jerry Springer isn't interested in solving problems.
My point is, and Nick is trying to make, and has been making long before Cuban put his bad idea out, you cant simply fake your way or consume your way to success. AND THAT is what a buyback program is. It is simply sucking money up to the top.
