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Bernie's New Plan To Ban Stock Buy Backs


wescobrk
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https://www.cnbc.com/2019/10/14/bernie-sanders-would-raise-corporate-tax-rate-to-35percent-ban-stock-buybacks.html

 

Interesting plan from Bernie:

He wants the board of directors of companies with $100 million to have representation of underrepresented groups but never mentions anything about the quality of their insights, experience, net worth in the company or has Buffett has said how much their earn from their board seats usually happen to be a very large percentage of their income yet they are considered "independent" directors.

 

He also wants to return corporate tax rate back to 35%.

 

Where else does this type of thinking lead to? When is Bernie and his other supporters going to go after sports? Why is the NBA so non diverse? Why do athletes earn so much money? What about movie stars? Why do they earn so much money? Why are these athletes spending several hundred thousand on cars, houses, etc? Bernie says stock buybacks don't help workers so his logic is anything that doesn't go back into the community should be banned.

 

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I much prefer Andrew Yang. At least the guy has a brain and can articulate his thoughts with reasoning. I don't have a problem against universal income for $10-12k a year instead of all of these administrative nightmares such as Warren's 2% wealth tax. If she was doing it on mark-to-market securities such as very liquid stocks and bonds but to apply it to every asset such as art, cars, houses, etc, this is utter nonsense from an administrative standpoint.

 

Sadly, Bernie will always win over someone thoughtful as Yang because his statements are so simplistic, devoid of any in depth thinking, thus, it plays well to the masses who don't 1) have the education; 2) the desire or 3) the time to learn/think about all the consequences of all these vapid policies.

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Since he backs the "nordic" model, why not back the nordic taxing of corporations.  In Sweden, the corporate tax rate is 22% so right in-line with present day USA.  There is also a higher tax rate on lower class in Sweden I am told, so we should revert to that as well.

 

Thanks for keeping it non-partisan footnotes.  It is very encouraging.  I have said it before, but all the dems need to completely crush the next election is a centric candidate.

 

 

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