Pharrell’s New Shoes, Biden’s New Economic Lead, & EV’s New Ports 2/15/23
Squawk Pod
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The 1 Percent Buyback Tax?
President Biden has proposed raising attacks on stock buybacks to 4 percent. The issue gained attention after the financial crisis when think tanks like the Progressive Institute for Policy Studies found that Wall Street banks wrote off more than $2 billion in executive bonuses while receiving bailouts. That led to policy changes in the Tax Cut and Jobs Act with performance-based compensation above $1 million getting taxed beginning in 2018. Brian Deese, National Economic Council Director, is there a book in the works? Can we just do the memoirs right now? Are you willing to do that or are you going to save it?
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Transcript
