SpaceX went public today at $135 a share and $1.77 trillion valuation — an almost 100 price to sales ratio — with a governance structure that consolidates power with Elon Musk and attempts to dramatically restrict shareholder lawsuits. buff.ly/XSmJfB7
New legislation to raise the tax on corporate stock buybacks from 1% to 4% would generate $166 billion in revenue over the next decade, and encourage companies to reinvest in workers and innovation instead of inflating their share prices. buff.ly/I1DErfl
Stock buybacks are when a company purchases its own shares, resulting in fewer outstanding shares and an artificially higher share price.
Stock buybacks have hit a record high. In the past 8 years, 100 of the biggest US corporations have used the Trump-GOP tax cuts to help repurchase $4.8 trillion of their own stock, according to a new analysis by @4taxfairness.bsky.social
Report: americansfortaxfairness.org/new-analysis...