, Columnist
The Misguided Schumer-Sanders Buyback Solution
Their restrictions wouldn’t improve the lives of the workers they are trying to help.
The wrong answer to the right question.
Photographer: Mark Wilson/Getty Images
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Senators Bernie Sanders and Chuck Schumer think companies are spending too much on buybacks and dividends to the detriment of their workers and communities. In a New York Times op-ed, they are proposing legislation that would restrict corporations from repurchasing stock unless they, among other things, agree to pay all workers at least $15 an hour and offer better pension and health benefits.
The senators’ solution, though, would reward bad investments and most likely lead to more corporate waste rather than improve the lives of the workers they are trying to help.