rbreich ,
@rbreich@masto.ai avatar

In the years after Trump's tax cuts, S&P 500 corporations spent $2.72 trillion on stock buybacks to enrich wealthy shareholders. That's more than what they spent on investments in plants and technology to boost production and create jobs. So much for trickling down, huh?

TheDarcBird ,
@TheDarcBird@vivaldi.net avatar

@rbreich

Avitus ,
@Avitus@ioc.exchange avatar

@rbreich That trickle has had a yellow hue and smelled of ammonia for 40 years.

mpjgregoire ,
@mpjgregoire@cosocial.ca avatar

@rbreich Would it have been acceptable if they'd spent that money in dividends?

ArchaeoIain ,
@ArchaeoIain@archaeo.social avatar

@rbreich "trickle down" always meant "to P*ss on from a great height"

bigheadtales ,
@bigheadtales@mstdn.party avatar

@rbreich
Corporations seem only to exist now to pander to a handful of filthy rich Wall Street investors, it's not about business, it's not about the brand or the product, everything they do is a stunt to raise stock prices and cash in.

mloxton ,
@mloxton@med-mastodon.com avatar

@rbreich
Stock buybacks should be illegal

trainman ,
@trainman@sfba.social avatar

@rbreich Trickle down was never going to work, and they knew it.

ecpoir ,
@ecpoir@toot.io avatar

@rbreich

You are right, that's terrible for us, the working class.

So how much of it did Biden change? Did he take it all back or did he leave it the same way he found it?

BluesHarp ,

@rbreich
Got to keep that myth going. You know, the one about the rich being "job creators"...

duanallen ,

@rbreich

Trickle down never made sense to me. Rich owners are not good at sharing with the underlings.

Anikka_Duka ,
@Anikka_Duka@mstdn.social avatar

@rbreich Sadly, a lot of Trump supporter that are not rich think that tax is bad. They don't care about stock buy back. We needs to keep educate this people and figure a better messaging.

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