Myth: “If you cut taxes for the rich, they’ll create jobs.”🤡
Microsoft just made $133.7 BILLION in net income last year. Today they announced they are getting rid of 60,000 workers. Fuck these companies man.
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@yayaver the actual problem is the rule change that Reagan did in 1982 to the Security and Exchange Commission rule 18 B. This is the rule that allows stock buybacks. Prior to 1982, stock buybacks were considered to be market manipulation and were against the law. This is what ushered us into shareholder only capitalism. Rolling back that one rule would mean that profits could not be used to raise shareholder stock value. Prior to 1982 the additional profit was distributed to the employees in the form of higher wages and new research. #ResistOfTheDay