Extra wealth from tax cuts goes to buybacks, executive pay, not workers

Extra wealth from tax cuts goes to buybacks, executive pay, not workers

Sen. Mike Crapo, chair of the U.S. Senate Finance Committee, is again pushing the “trickle-down” economic approach in the budget bill by making certain business tax breaks permanent. He argues this will create economic certainty, boost investment, and lead to good jobs and growth. Supporters claim these policies increase government revenue by growing the economy.However, supply-side or “trickle-down” economics has repeatedly failed to deliver on…

Fact Sheet: Taxing Stock Buybacks Strengthens the Real Economy - Americans for Financial Reform

Increasing the tax on corporate stock buybacks encourages investments in the real economy, discourages excessive executive compensation that widens economic inequality, and raises funds to protect healthcare, nutrition, and other programs that help working families. Raising the buybacks tax to 4 percent would generate $166 billion in revenue over the next decade, and encourage companies to reinvest in workers and innovation instead of inflating …