HOW KILLING STOCK BUYBACKS SAVES THE AMERICAN ECONOMY? (WHAT DO YOU THINK?) (2352 hits)
You don’t need a rich guy like me to tell you that there is something very wrong with the American economy. You feel it every day in your stagnant paychecks, your rising credit card balances, and your creeping fear that everything for which you have worked so hard could quickly slip away.
And President Trump’s massive corporate tax giveaways aren’t going to make your lives any better. To be clear, corporate profit’s take of the U.S. economy had already doubled over the past 40 years — from an average of six percent of GDP during America’s post-war economic heyday to about 12 percent today.
While corporate profits continue their steady dominance over the economy, wages remain flat, economic anxiety keeps rising, and our nation can no longer seem to afford even its most basic needs. Roads, bridges, freeways, and drinking water systems are crumbling. Our public schools and our police and fire departments are dangerously underfunded. Student debt is crushing a new generation of young people, many of whom have given up on the American dream.
