Fund the Fight to Pass the Stock Buybacks Act Now >>
Stock buybacks don’t create more jobs. They don’t increase wages. They don’t grow the economy.
They do just one thing: Make corporate execs and shareholders richer.
Buybacks don’t enhance the underlying value of the company, but CEOs love stock buybacks because most CEO pay is now in stock shares and stock options rather than cash. So when share prices go up, so does their compensation. And the value of their pay from previous years rises at the same time -- a huge retroactive pay increase, on top of their already outrageous compensation.
Now, the Stock Buyback Accountability Act of 2023, introduced by Senators Sherrod Brown and Ron Wyden, would place a 4% tax on stock buybacks, to help discourage the artificial inflation of stock prices, and encourage corporations to invest in workers.
Contribute to TakeItBack.Org and fund the fight to pass the Stock Buybacks Act now >>
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