What do Bernie Sanders, Chuck Schumer, and Marco Rubio all have in common? Yes, they're all United States senators. But they also all dislike stock buybacks — and apparently, don't understand them particularly well.
After Sens. Sanders (D-VT) and Schumer (D-NY) penned an op-ed in the New York Times attacking stock buybacks as harmful to the economy, Sen. Rubio (R-FL) followed them a week later by introducing legislation aimed at limiting buybacks by changing their tax treatment. No stranger to the anti-buybacks bandwagon, Rubio also criticized the amount of share buybacks corporations were engaging in following the passage of the Tax Cuts and Jobs Act last year. His reasoning flies in the face of economics.
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