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The Hartmann Report

THE "SHARE BUYBACK" RAPE OF AMERICAN BUSINESS

The Hartmann Report

Thom Hartmann

News, Congress, America, Thom Hartmann, Climate Change, Democracy, Debate, Economics, The Hartmann Report

4.51.3K Ratings

🗓️ 4 August 2022

⏱️ 59 minutes

🧾️ Download transcript

Summary

How CEOs pulled off their coup, ending the golden age of growth for the middle class while beginning the current era of the CEO as modern-day superyacht-owning emperor. Also, Co-Director of the Center for Economic and Policy Research, Mark Weisbrot postulates if the Fed may cause a recession. Professor Richard Wolff examines if capitalism should be regulated or changed.   

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Transcript

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0:00.0

You're listening to me for free right now, and that's awesome because more and more things aren't free right now.

0:05.4

I mean, think about all the things you're paying for daily, monthly yearly.

0:08.8

Well, here's something that won't add to that list, the free iHeartRadio app, podcasts, streaming music, digital radio.

0:15.8

All free, it's the future of audio and unlike almost everything else in your life right now,

0:20.4

except maybe air, it doesn't cost a dollar.

0:23.2

So take advantage of this, listen to everything you love on the iHeartRadio app for free.

0:28.2

iHeartRadio

0:42.7

This is the Tom Hartman program.

0:47.0

Well, it's another huge news day today. Welcome to our program.

0:50.8

Professor Richard Wolfe is going to drop by.

0:52.8

How should capitalism be regulated or changed to make it work better

0:57.5

and along those same lines, my rant for today over at HartmanReport.com, the share

1:02.0

buyback rape of American business. CEOs came up with this amazing scam in 1982,

1:08.2

Reagan put it into law and ever since then, it's been downhill for everybody except the CEOs.

1:13.3

I'll tell you about that. Economist Mark Weisbrot is going to drop by.

1:17.8

Will the Fed cause a recession? This is a question that's not a lot of people's minds.

1:22.5

And Mark has done a deep dive into the topic and I think you're going to find our conversation

1:26.8

fascinating. So a lot on the program today, you know, frequently we have days where there's

1:31.6

no guests at all. This is kind of the opposite. Let's also talk about the election, by the way.

1:37.0

A lot of great stuff happened and some really kind of sad stuff. Andy Levin and Michigan,

1:44.0

great progressive member of Congress, got taken down by a fellow Democrat. This was the result

1:48.8

of redistricting, who was, shall we say, a little more in the corporate bag.

...

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