They say if you want less of something, then tax it. Okay, but just be sure that you truly want less of that thing for the right reasons. And more importantly, think through the unintended consequences before proceeding.
If you make it harder for corporations to reward their stakeholders in one specific way, it won’t be long before they find another way to do it. It’s why they exist.
This morning I walked Stephanie Ruhle through the bad ideas now being floated around corporate share repurchases, and why these ideas aren’t going to accomplish their stated intentions.