Large companies use to have retirement funds for their workers.  Maybe retirement would not be such a problem if we learned from the past.  Stock buy backs were made illegal after the last depression by President Roosevelt. President Reagan changed the law.  Since then, share buybacks have become the most personally profitable business scam CEOs and senior executives can run against their own employees, companies, and communities. The rich get richer.  The middle class pays an even higher price for everything.   Oil companies instead of investing in their infrastructure also bought back stock.  They could have lowered the price of gas for every American.  They chose not to.   It’s also why so much of America’s corporate infrastructure is rotting, from leaking methane from oil rigs to toxic spills from chemical factories to industrial waste being discharged into our environment instead of being cleaned up.  This is precisely the reason why the railroad workers are so fed up  that they went on strike.   Share buybacks have replaced growing a business as the main way CEOs jack up their compensation. Its just as much of a scam today, and just as destructive to working people and our nation, as it was in 1929 when it helped crash the market.The way to restore vitality to America’s business sector with the world’s most prosperous middle class, is to once again outlaw stock buybacks.

Large companies use to have retirement funds for their workers.  Maybe retirement would not be such a problem if we learned from the past.  Stock buy backs were made illegal after the last depression by President Roosevelt. President Reagan changed the law.  Since then, share buybacks have become the most personally profitable business scam CEOs and senior executives can run against their own employees, companies, and communities. The rich get richer.  The middle class pays an even higher price for everything.   Oil companies instead of investing in their infrastructure also bought back stock.  They could have lowered the price of gas for every American.  They chose not to.   It’s also why so much of America’s corporate infrastructure is rotting, from leaking methane from oil rigs to toxic spills from chemical factories to industrial waste being discharged into our environment instead of being cleaned up.  This is precisely the reason why the railroad workers are so fed up  that they went on strike.   Share buybacks have replaced growing a business as the main way CEOs jack up their compensation. Its just as much of a scam today, and just as destructive to working people and our nation, as it was in 1929 when it helped crash the market.The way to restore vitality to America’s business sector with the world’s most prosperous middle class, is to once again outlaw stock buybacks.

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