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Wed Jun 13, 2018, 12:22 PM

Tax scam doing exactly what it was supposed to: make the rich richer


http://money.cnn.com/2018/06/11/investing/stock-buybacks-sec-report/index.html

Corporate America, flush with cash from President Trump's tax cuts, is buying back stock at a record pace.
Wall Street loves that. It signals that CEOs believe their shares are cheap, and stocks typically spike after buybacks are announced.
Yet an SEC official has uncovered what he calls a disturbing trend: In the days after executives unveil buybacks, they quietly cash out their own shares.

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Reply Tax scam doing exactly what it was supposed to: make the rich richer (Original post)
Takket Jun 13 OP
gratuitous Jun 13 #1
Frustratedlady Jun 13 #2
uponit7771 Jun 13 #3
FiveGoodMen Jun 13 #4

Response to Takket (Original post)

Wed Jun 13, 2018, 12:26 PM

1. It's also goosing the deficit

Lower revenues, higher spending, and the annual deficit climbs significantly. The standard response from Republicans to this fiscal irresponsibility is to lower spending. Which, of course, doesn't mean lower spending on defense or any of the other pork barrel goodies Republicans like to hand out to their constituents, but cuts to Social Security and Medicare.

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Response to Takket (Original post)

Wed Jun 13, 2018, 12:42 PM

2. Isn't that similar to insider information? Illegal?

Oh, yeah...I suppose they have a loophole to make it legal. Forget I said that.

I'll go back to my stanchion and be a quiet little lamb. (Practicing for when Trump and the Russians take over.)

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Response to Takket (Original post)

Wed Jun 13, 2018, 01:12 PM

3. Something else to artificially spike the stock market, typical republican economics

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Response to Takket (Original post)

Wed Jun 13, 2018, 02:02 PM

4. Euthanasia would be appropriate for anyone who didn't see that coming.

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