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Is this really a surprise? The 2008 bailouts were specifically targeted in a way that benefited the richest 10% of households disproportionately. Monies in the
by TAForObvReasons 7y ago
Is this really a surprise? The 2008 bailouts were specifically targeted in a way that benefited the richest 10% of households disproportionately. Monies in the tax cuts and bailouts of companies were used for buying back stock [1], creating gains for those who owned stock but not for the other households that don't own sizable stock portfolios.
https://www.cnbc.com/2019/05/25/the-stock-market-would-be-much-lower-if-it-werent-for-companies-buying-back-their-own-shares.html?yptr=yahoo https://www.cnbc.com/2019/05/25/the-stock-market-would-be-mu...