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Warren Buffett Teaches Bernie Sanders Business 101
As U.S. companies are on track for $1 trillion in buybacks, according to Goldman Sachs, there have been deep, dark concerns that these are financially driven market manipulations that are taking money out of worker’s pockets.
Politicians may not agree on the country’s border or whether to fund the Federal budget, but they concur on why America is in such a sad state of despair. It turns out companies buying back their shares is the real problem.
Who knew?
Mark Rubio (D-FL) recently joined Chuck Schumer (D-NY) and Bernie Sanders (D-VT) to claim buybacks are enriching the wealthy and widening income inequality, while at the same time, stifling innovation and squandering money that could go to workers.
Politicians want the public to believe that absent the stock buyback, cash would be gifted to workers in higher salaries and benefits. The question is whether this is a false narrative promulgated by desperate politicians trying to compete with 29-year-old socialist turned…
