Senate Minority Leader Chuck Schumer (D-NY) and 2020 presidential candidate Bernie Sanders (I-VT) are working on a plan to kill the stock market.
This is why we can’t have nice things!
From National Review:
When a company repurchases shares, their value rises, and employees benefit. The senators think something is wrong with that.
Senators Chuck Schumer of New York and Bernie Sanders of Vermont want to penalize “self-indulgent” corporations that buy back their own stock. In a recent article in the New York Times, they argued that when companies repurchase shares, not only do the vast majority of Americans not benefit, but income inequality is exacerbated since only wealthy shareholders and corporate management profit.
Despite decades of extraordinary success that the United States has enjoyed and that we enjoy today, Schumer and Sanders believe that something sinister is taking place in the corporate world. They call buybacks a form of “corporate self-indulgence.” Why? Because […]
[…] corporate boardrooms have become obsessed with maximizing only shareholder earnings to the detriment of workers and the long-term strength of their companies. . . . Companies, rather than investing in ways to make their businesses more resilient or their workers more productive, have been dedicating ever larger shares of their profits to dividends and corporate repurchases.
If Dems decide to make Bernie their nominee to go against President Trump, they’ll have to deal with the fact that he was once kicked off a hippie commune for being too lazy to work.
From Free Beacon:
Bernie Sanders was asked to leave a hippie commune in 1971 for “sitting around and talking” about politics instead of working, according to a forthcoming book.
We Are As Gods by Kate Daloz, scheduled for release April 26, chronicles the rise and fall of the Myrtle Hill Farm in northeast Vermont. Daloz, a Brooklyn writer, was in a special position to write a history of Myrtle Hill: she was raised near the commune in a geodesic dome residence with an outhouse called the Richard M. Nixon Memorial Hall. Her parents were close acquaintances of the commune residents, who offered them tips about wilderness living.
In the summer of 1971, Myrtle Hill received a visitor: Bernie Sanders, age 30, at the cusp of his political career with the socialist Liberty Union Party.
Sanders came to the farm while researching an article on natural childbirth for the Liberty Union’s party organ, Movement. Interest in alternative medicine was strong among members of the counterculture as part of their wider suspicion of modern science, which was associated with the sterility of hospitals and the destruction of war. “Many elements of Western medicine came under suspicion during this period, but none more so than modern obstetrics,” Deloz writes.
In Sanders’ article, previously digitized by Mother Jones, he criticized old methods of childrearing, where “infants were bottle fed on assembly line schedules designed by assembly line doctors in order to prepare them for assembly line society.” In Sanders’ view, natural childbirth was a step toward a more authentic society. “All of life is one and if we want to know, for example, how our nation can napalm children in Vietnam—AND NOT CARE—it is necessary to go well beyond ‘politics,’” he wrote.
Sanders’ prefatory remarks were followed by a Q&A between him and a friend, Loraine (spelled “Lorraine” in the article), who had recently given birth to a baby, Rahula (spelled “Rahoula” in the article), on the Myrtle Hill commune.