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Above photo: Ralph Orlowski/Getty Images. A 1982 SEC rule change has turbocharged America’s extreme wealth concentration. Adding $55 billion to the wealth piles of Larry Page and Sergey Brin alone. One of us previously wrote on the tax treatment of stock buybacks. Prior to a rule change by the SEC in 1982, publicly traded corporations faced strict limits in the number of shares they could buy back.
By Adam Taylor, Barbara Williams-Skinner, Morris Pear, Op-ed Contributors | Saturday, October 03, 2020 The COVID-19 pandemic has upended almost every aspect of American life, from our schools and businesses to our most basic democratic right – voting.
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