Comment Taxes (Score 1) 14
Also stock BuyBacks used to be illegal. Stock BuyBacks mean that companies don't invest anymore they hold on to their cash so that they can do BuyBacks and pump the stock during downturn. This is exactly why stock BuyBacks were illegal for so long.
I don't think folks realize how much of a role public policy plays in their daily lives or the myriad of knock-on effects from those kind of policies. There's an idea of a chesterton's fence, which is a fence that you don't pull down unless you know damn well why it was put up. High taxes and Wall Street regulation were a classic chesterton's fence.