General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums34 compaines announce buy back plans since Senate passed tax scam bill
Link to tweet
Link to tweet
then they sell said stock at the inflated prices. The fraud part. Hey, American Worker, you have been bamboozled. They are not buying their own stock to give you a f*cking job. Or make your workplace safer. Or make your retirement package better.
Here is a google search for buy back plans in the news. Boeing, Pfizer, Bank of America, Home Depot all on the first page.
https://www.google.com/search?q=buy+back+stocks&client=firefox-b-1&source=lnms&tbm=nws&sa=X&ved=0ahUKEwjuqPL6pZfYAhWh3YMKHZGGCAAQ_AUICigB&biw=1920&bih=987
procon
(15,805 posts)ProudLib72
(17,984 posts)Of horse shit!
Wellstone ruled
(34,661 posts)afford to give Billions to their Republican Lacky's they own lock stock and barrel. And give Bonus's to all the BOD and CEO's.
What jobs,who told us we need to hire any of them people. Merry Christmas SUCKERS!!!!
marybourg
(12,634 posts)It's the most real boost of all: fewer shares outstanding means each share is worth more.
haele
(12,674 posts)Not putting down such a statement, but IME, it's pretty a statement coming from the viewpoint of people who aren't really struggling just to get by.
Fewer shares increasing the value of shares is really important for those who depend on investments as a major part of their income.
However, it's not so much if you're part of the 75% of American employees who haven't been able to put aside maybe more than 2% of their monthly income into a matching 401K, much less start an investment portfolio.
Attempting to maintain a halfway healthy lifestyle (no extravagance; just enough food, rest, and abasic level of household and social infrastructure to be able to function effectively) for oneself and one's family has meant paycheck to paycheck living for the majority of Americans.
No one has been able to maintain a household on a full-time minimum wage for nearly 15 years now anywhere in this country. That means that just a single person grossing $1,150 a month cannot afford to pay for 2000 calories a day of food, adequate shelter, payment of basic utilities, transportation to and from work, and access to health care on a monthly basis anywhere, much less afford to put aside $5 to $20 a month "as an investment for the future".
If they have a family and bring home less than triple minimum wage as a monthly household income, it can be just as bad without adequate social safety nets for the children.
These 250 million or so working citizens are not going to see the benefit of fewer shares on Wall Street. Their employers will. The professionals who govern, or provide services (i.e., doctors, loan officers, lawyers, managers) for them typically will.
But the average 9-5 or retail/lower skilled service sector worker - the majority of the workforce - has never really be able to put aside enough money to invest as a retirement much beyond a very small percentage - maybe 1 - 3% of their monthly gross depending on their emergency fund requirements.
Likewise, I also don't know of many small business owners of "Main Street" style family businesses (i.e., restaurants, small construction or landscaping businesses, dealerships, small or convenience stores/shops/clinics/franchises) who have enough money to gamble on the stock market after paying their bills, taxes, and fees and putting emergency or capital investment money aside every month.
When only 10% of small businesses generally survive to 10 years, there's a lot of money lost over the years trying to stay afloat.
Haele
marybourg
(12,634 posts)but that doesn't change facts. There 's no way to discuss a matter of fact if we each try to distort the fact based on personal tastes, issues, problems, needs, desires. That's propaganda. Or just plain obfuscation.
lapfog_1
(29,219 posts)even if those companies DID repatriate the money and open new factories...
Even the very smart Ali Velshi never counters with the question... Given the new automation technology now available, those new factories will employ HOW many workers?
There will be NO net jobs created with this tax cut for the rich and corporations.
Initech
(100,100 posts)smirkymonkey
(63,221 posts)Who would have ever guessed.
Buns_of_Fire
(17,193 posts)And neither did my friend the Easter Bunny, who is sitting next to me right now munching on a chocolate human.
woolldog
(8,791 posts)so I'm happy about this. Fantastic year for Boeing shareholders.
lostnfound
(16,189 posts)He has an uncanny knack.
So Im happy for him.
But gee, I wanna live in a country where we dont raise money for kids with leukemia by collecting dimes and pennies in a jar next to the cash register.
And Im pretty exhausted with the influence of the Mercers and the Kochs and the Adelsons on our democracy, so if it empowers any of them, it is not so great.
woolldog
(8,791 posts)BA and LMT have had an amazing run. Not a fan of this tax plan of course. But I can't do anything to stop it. So I might as well enjoy my measley tax cut, run up in stock prices, and smh at this mess.
Skittles
(153,185 posts)Lawrence says it best:
PIGS AT THE TROUGH
woolldog
(8,791 posts)Skittles
(153,185 posts)alrighty then
IronLionZion
(45,516 posts)artificially pumping them higher will lead to a correction in the near future. They're just hoping for enough suckers to buy high and be left holding the hot potato when that happens. Which will probably be devastating to a lot of people's retirement funds.
Then when they need bailouts, where's the tax money to do it?
deminks
(11,017 posts)Bengus81
(6,932 posts)But let em blow their cash on this while Trump and Turtle keep claiming this cut is all about hiring,expansion etc. What was interesting was the DOW being down 111 points on Mon+Tue when it was clear this was going to pass.