[tvbound]

Originally Posted by Caymus

From article

"Billionaire Warren Buffett says critics of stock buybacks are “either an economic illiterate or a silver-tongued demagogue” or both, and all investors benefit from them as long as they are made at the right prices."

Warren Buffett calls stock buyback critics ‘silver-tongued demagogues’

Buffett is referencing only investors and commenting on stock buybacks in general, not the special windfall of the 2017 tax cuts that primarily benefited the wealthy and corporations.

The tax cuts were touted as helping Americans and the American economy overall, but if a company uses their windfall for stock buybacks, instead of for wage increases/personnel hiring/additional infrastructure/Etc., then that 47% of Americans who don’t own stocks in ANY form (pensions/mutual funds/individual/Etc.)…are/were not helped. In other words, that “trickle down effect” they were supposed to feel, is actually from those of us fortunate enough to own stocks - just peeing on their leg.


Access Denied

”In 2019, more than half of American families, 53%, were invested in the stock market.”

Just like the OP said, sure, those 53% of us with stocks saw our portfolio rise, but it was still the wealthiest people and corporations that benefited the most (and needed it the least), when the tax cuts were used to buy back stocks.

Given the demographics of TV, of course there are those that see no problem with what happened, particularly since (as pointed out in the link)..."Although more Americans own stock, that ownership is concentrated among the wealthy and white."