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'This Was the Plan All Along': With Workers' Wages Falling, CEOs Enjoy 'Eye-Popping' Payouts From GOP Tax Scam


#1

'This Was the Plan All Along': With Workers' Wages Falling, CEOs Enjoy 'Eye-Popping' Payouts From GOP Tax Scam

Jessica Corbett, staff writer

While workers' wages have steadily declined since congressional Republicans and President Donald Trump pushed through massive tax cuts for corporations and wealthy Americans in December, a new Politico analysis finds that rather than using their savings to raise employee pay or create jobs, companies are generating "eye-popping payouts" for executives with a record-breaking stock buyback "bonanza."


#2

Of course this was the plan all along. Capitalism IS high profits=low wages.


#3

This was know before the passing of these anti-working class taxes. So, no surprise here but surprise will be when we have a massive uprising. Not sure how many more indignities we are willing to stomach.


#4

More good eye poppers:


#5

What difference will a massive uprising make if the rigged system stays?


#6

Actually it surprises me that they voted with their constituents 65% of the time. This is somewhat misleading in that the impact of a piece of legislation is more important than the volume of legislation. A legislator could vote perfectly almost 99% of the time and the one time they vote wrong - such as the tax bill - that 1% vote could do 99% damage.


#7

S&P 500 companies are on track to repurchase as much as $800 billion in stock this year, a record that would eclipse 2007’s buyback bonanza. Among the biggest buyers are companies like Oracle Corp. , Bank of America Corp. and JPMorgan Chase & Co.

But 57% of the more than 350 companies in the S&P 500 that bought back shares so far this year are trailing the index’s 3.2% increase. That is the highest percentage of companies to fall short of the benchmark’s gain since the onset of the financial crisis in 2008, according to a Wall Street Journal analysis of share buyback and performance data from FactSet.

https://www.wsj.com/articles/stock-buybacks-are-booming-but-share-prices-arent-budging-1531054801


#8

The point of the massive uprising is to overthrow the system of corruption and exploitation.


#9

@ironStache has it about right, not only did they use tax money to buy back their stocks and enrich themselves, but we also gave them plenty of money to bribe our politicians for the next election.


#10

“The best way to rob a bank is to own one.”
–William K. Black

The best way to rob a country is to own one.


#11

Corruption and exploitation are symptoms of a systemic problem, representative government.

https://www.aeaweb.org/articles?id=10.1257/0895330054048713


#12

It is more than that. It is the system of exploitation.

https://therealnews.com/stories/obama-joins-club-of-the-super-rich-defends-global-capitalism-in-lecture


#13

“Everywhere there’s lots of piggies living piggy lives…”


#14

Can someone explain the difference in lifestyle for a family making $50 million rather than $20 million? Because I can absolutely explain the difference in lifestyle for a family making $50,000, instead of $20,000.

Let’s return to the 1960s tax rates, with a 95% tax rate for anything over $20 million. I’d be happy to have them choose where their money goes (I’d like to choose where my money goes), as long as we get to create the categories. And use the tax money to fund business start-ups. Small business create jobs.


#15

You can’t find morality from child bombing oil thieves. Old Nam Air Force saying, “You can’t be no man from 30 grand,” no you can’t. But then America does not moralize stealing oil; we justify it with bombers the children can’t see. Capitalism is supposed to have “checks and balances” in our three-tiered system. Note the importance of the number three. But like a business with no quality control, it fails. So we ask corporations who bought private newspapers to have the journalistic ethics of journalists when they are profiteers. They are not journalists and truth is buried with the smoldering torsos of defenseless Iraqis forever censored by the exact corporations who also benefit from trillions in tax free war profits they bank overseas while demanding our nationalism. We should shove this up their delusion of adequacy. Sideways.


#16

For,those who have been asleep for forty years, this has been the plan since Ronny ray guns was installed as the loyal dupe to be the GOPs nominee way back in 1980. Like any good grift you had to play the long con. Free trade. Kill union labor. Massive military spending creating even more massive deficits. All the while push the culture wars. Segment the population and pit them against each other. Promote nationalism, patriarchy, and of course the libretarian American Dream.
By 2016 the tree was full of fruit, ripe for the picking. And now we see the end game of the grift. A mad dash to grab as much as you can. We are at the smash and grab part of the program. Take it, take it all.
We are witnessing the death throws of capitalism and its logical conclusion.
Fascism.


#17

In overniight news we’ve learned Treasury Secretary Mnuchin wants to–without legislation but by redefining “cost” on tax forms–reduce the taxes on these capital gains to the tune of $100B.


#18

Tax them to shore up our Social Security and Medicare systems.


#19

According to an interview with Tony Schwartz, the ghostwriter of “The Art of the Deal,” Trump is eager for huge marches in the streets because Trump Wants To Declare Martial Law!
https://www.alternet.org/news-amp-politics/trump-major-legal-and-political-trouble-his-desperate-attempts-escape-it-could.


#20

The jails couldn’t house millions of demonstrators.