Just curious about what people think of the proposed legislation on a 2% tax on buybacks. On top of that, how does that affect corporations, wall street, asset management firms across the country, and retail investors?
My gut feeling is that is awful for both corporations and traders since corporations will be less incentivized to return capital to shareholders via buybacks.
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From a social/societal perspective, a 2% tax on buybacks is completely fair. However, yes, tax is always gonna be bad for investors/corporations. Not sure where you're going with that one...
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