Robert Reich on Mastodon:
Prior to 1982, stock buybacks were considered stock manipulation. It was Reagan's SEC that opened the floodgates to their abuse.
Stock buybacks don’t create more jobs. They don't increase wages. They don’t grow the economy.
They do one thing: Make corporate execs richer.
Mastodon
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After listening to his SOTU it has occurred to me that with his policies and proposals President Biden is basically working to correct many of the problems created by Reaganomics/neoliberalism over the past 40 years. I can't find the quote now but I think I heard the President in Wisconsin today mention something about fixing the problems of the past 40 years. Is Joe Biden the anti-Reagan savior? Isn't his idea of "bottom-up, middle out" economics the antithesis of "trickle down" economics?
