3 myths underlying Biden’s proposed increase in tax on stock buybacks ...Middle East

During the State of the Union address recently, President Joe Biden proposed quadrupling the current excise tax on share repurchases, or “buybacks.” Biden and other politicians hold a disdain for share repurchases because they misunderstand our tax system, corporate investment and the relationship between the two. There are three myths Biden is subscribing to. The first is that CEOs use buybacks to enrich themselves to the detriment of the long-term growth of the company. This is a two-part myth. First, there is a misconception that stock buybacks shovel undeserved money out to the CEO and other wealthy shareholders. In an open market share buyback, which makes up most buybacks, t

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3 myths underlying Biden’s proposed increase in tax on stock buybacks ...Middle East

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