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

[Takket]

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.

[gratuitous]

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.

[Frustratedlady]

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.)

[uponit7771]

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

[FiveGoodMen]

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