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Share buybacks let income inequality grow

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On April 4, journalist Eric Reguly’s interview with theAIRnet president William Lazonick on the issue of share buybacks in relation to growing inequality appeared on The Globe and Mail :

Raising taxes is the logical answer, and taxes have indeed been raised. The effort has been flawed, haphazard and sometimes counterproductive. Boosting the value-added taxes (VAT, equivalent to Canada’s harmonized sales tax) in Europe has hurt the poor and damaged the economic recovery without causing the slightest discomfort to the rich. Whacking the rich hasn’t worked.

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