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Outside the Box: Sorry Bernie, stock buybacks aren’t to blame for America’s rising income inequality

Should stock buybacks be regulated? Senators Chuck Schumer (D-NY) and Bernie Sanders (I-VT), who is running for president as a socialist, evidently think so. They believe that our nation’s glory days can be restored by limiting corporate stock buybacks.

According to the two senators, the 1950s-1970s were a golden age for workers because “American corporations shared a belief that they had a duty not only to their shareholders but to their workers, their communities and the country that created the economic conditions and legal protections for them to thrive.” They add that in recent decades, corporate managements and their boards of directors have become greedy, focusing on maximizing “shareholders earnings” at the expense of workers’ earnings.

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