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Tag Archives | The Tax Cuts and Jobs Act

Lowe’s spent billions on share buybacks, zero on severance for laid-off workers

BY Kate Gibson (originally published by CBS News) - Lowe’s roughly 300,000 employees are “without question” the home-improvement chain’s “greatest asset,” according to their boss, CEO Marvin Ellison. He offered the shout-out at the retailer’s annual shareholder meeting in May, crediting a 15% boost in the company’s quarterly dividends to his workers’ efforts… [Cross-posted from CBS News […]

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Have Stock Buybacks Gone Too Far?

By Jeremy Siegel and William Lazonick, segment guests (originally published by Wharton University of Pennsylvania) – Fueled by the lower corporate tax rate, share buybacks among S&P 500 companies shot to a fourth consecutive record in the last quarter of 2018, according to Standard & Poor’s. What’s more is that the lower tax rate enabled dozens […]

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The real reason stock buybacks are a problem

By Yves Smith (originally published by naked capitalism) - Yves here. Even though this article on stock buybacks by Steve Roth, cross posted below after this lenghty introduction, makes an important central point, I believe it is missing the forest for the trees. Roth acts as if stock buybacks are merely an alternative to dividends (or investing […]

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Bernie Sanders and Chuck Schumer’s surprising collaboration — and weird proposal — on stock buybacks

By David Dayen (originally published by The American Prospect) - Chuck Schumer and Bernie Sanders went to the same high school in Brooklyn, but that’s about all they shared in common until an op-ed in Monday’s New York Times. The subject is stock buybacks, the increasingly common procedure whereby public companies use their prodigious cash hordes generated by record profits to […]

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A year after their tax cuts, how have corporations spent the windfall

By Thomas Heath (originally published by Washington Post) - The Republican-led Congress approved a massive corporate tax cut last year on the premise that executives would put the money saved to good use. Companies would build new factories. They would hire more workers. Buy new equipment. Get more efficient. Fund more research. Expand… [Cross-posted from The Washington […]

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Stock buybacks are a parasite on the US economy

Jan D Weir (originally published by Medium) – Last month, Sears, the giant retailer that was a shoppers icon for 125 years, filed for bankruptcy showing an unmanageable $5 billion in debt. Since 2005, under the leadership of former Goldman Sachs trader and Wall Street superstar, Eddie Lampert, Sears had spent $6 billion in share buybacks… […]

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Apple’s world-beating financial engineering is teaching the corporate world how to exploit Trump’s tax cuts

By Cory Doctorow (originally published by BoingBoing) - After Trump’s tax-cuts and forgiveness program, Apple repatriated $260 billion it had stashed in offshore tax havens (or, more truthfully, had funneled through offshore tax-havens to buy onshore financial products that were notionally held offshore); this made Apple the leading beneficiary of the Trump tax forgiveness program… [Cross-posted from […]

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As workers wonder where their share is, employers warn of raises

By Bill McKnight (originally published by Canton Daily Ledger) - Between wage hikes and bonuses, the Trump administration last year predicted that average U.S. household income this year would jump by $4,000 because of “tax reform.”… [Cross-posted from Truthout publication of July 26, 2018 at https://www.cantondailyledger.com/news/20180726/as-workers-wonder-where-their-share-is-employers-warn-of-raises]

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