Corporations should invest in their workers, not rich execs.
| Democratic Values is dedicated to supporting candidates who stand strong on their Democratic principles and stand up to the MAGA far-right extremists tearing apart our country. If you really want to receive only our most urgent emails, click here. If you'd like to stop receiving these messages, you may unsubscribe. |  | | Jason, The practice of "stock buybacks" — when a corporation spends cash to buy its own stock instead of making more productive investments — has become staggeringly common since the Trump Tax Scam was passed in 2017. "Stock buybacks" almost exclusively benefit corporate executives and their wealthy shareholders. A majority of executives' pay is typically tied to the company's stock — more than half which is owned by the top 1%. Plus, the inflated stock prices caused by "stock buybacks" aren't subject to taxes, unless the investor sells their shares (which rarely happens). What's more, these stock buybacks waste funds that could be used on equipment, safety upgrades, and workers' wages. "Stock buybacks" fuel corporate greed — they must be taxes and corporation executives must be held accountable. Sign on now if you agree >> Apple, one of the wealthiest companies in the world, just made one of the biggest stock buybacks in history — it already held the record for 6 of the top 10 largest stock buybacks. Its competitor, Google, is responsible for 3 out of 10. Tech isn't the only industry wrapped up in this scam. In the past few years, ExxonMobil made over $56 billion in profits and spent $15 billion on buybacks, while Chevron earned in $35.5 billion and then spent $75 billion on buybacks. Starbucks spent over $30 billion on buybacks in the past ten years. General Electric? More than $50 billion. Home Depot? $75 billion. This practice has become exponentially more common than it once was, and it's entirely unchecked. The good news is that Senators Sherrod Brown and Ron Wyden have a plan, the Stock Buyback Accountability Act, which would increase the stock buybacks tax to 4%. This change could prevent corporations from inflating their stock price to line their own pockets, and encourage them to invest that money in workers and improvements. Join us and call on the Senate to pass the Stock Buyback Accountability Act! Sign on now. Thank you, Democratic Values | | Paid for by Democratic Values PAC Democratic Values PAC
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