The Schumer-Sanders "Buyback Ban" Is a Terrible Idea – Do This Instead

Last week , senators Chuck Schumer (D-NY) and Bernie Sanders (D-VT) co-authored an opinion piece in The New York Times titled: "Limit Corporate Buybacks: Corporate self-indulgence has become an enormous problem for workers and for the long-term strength of the economy." The senators said, "From the mid-20th century until the 1970s, American corporations shared a belief that they had a duty not only to their shareholders but to their workers, their communities, and the country." I have to say the senators are right: Buybacks should be limited. They benefit too few people, who already have the advantage. But the senators are dead wrong about buybacks' impact on workers and the wider economy. That a bunch of D.C. insiders are wrong isn't news at all. But in this case, I'll show you the senators' prescription for fixing the problem is disingenuous at best, and a command-economy disaster at worst. The good news is, the problem of buybacks is very fixable. And my way to do it would not only benefit corporations and shareholders, but regular, middle-class workers and small investors, too... Full Story Tags: washington To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2019 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Schumer-Sanders "Buyback Ban" Is a Terrible Idea – Do This Instead appeared first on Money Morning - We Make Investing Profitable .