Malacandra.me

Love that populism

Love that populism

by digby


This should calm that economic anxiety right down:

Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares.

A POLITICO review of data disclosed in SEC filings shows the executives, who often receive most of their compensation in stock, have been profiting handsomely by selling shares since Trump signed the law on Dec. 22 and slashed corporate tax rates to 21 percent. That trend is likely to increase as Wall Street analysts expect buyback activity to accelerate in the coming weeks.

“It is going to be a parade of eye-popping numbers,” said Pat McGurn, the head of strategic research and analysis at Institutional Shareholder Services, a shareholder advisory firm.


Get a load of this next line:

That could undercut the political messaging value of the tax cuts in the Republican campaign to maintain control of Congress in the midterm elections.

Lol. I don't think they care, do you? They got what they wanted out of Trump. So he destroys the country and maybe the world. It's worth it. Those Supreme Court seats and the tax cuts are the only things that matter to them. It's all good as far as they're concerned.