The Daily Populous

Thursday February 16th, 2023 evening edition

image for Democrats Introduce Bill to Quadruple Corporate Stock Buyback Tax

The bill comes on the heels of a record year for corporate profits – and for stock buybacks.

With the backing of President Joe Biden, Democrats in the Senate are moving to quadruple the corporate stock buyback tax following a record year for stock buybacks, which topped $1 trillion among S&P 500 companies for the first time in 2022.

On Wednesday, Senators Sherrod Brown (D-Ohio) and Ron Wyden (D-Oregon) introduced a bill that would increase the stock buyback tax from 1 percent, as passed in last year’s Inflation Reduction Act (IRA), to 4 percent.

The lawmakers say that it would help cut down on tax avoidance for corporations and wealthy shareholders after the practice of stock buybacks exploded in popularity due to Republicans’ tax code overhaul in 2017.

Corporations announced stock buyback plans totalling $1.22 trillion in 2022, and companies are on track to beat that record again in 2023.

And ever since the Trump-GOP tax scam gave corporations a huge tax cut, stock buybacks have skyrocketed.

That’s why I propose we quadruple the tax on corporate stock buybacks and encourage long-term investments,” Biden said. »

Respawn Explains Why Star Wars Jedi: Survivor Isn’t on PS4, Xbox One

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While Star Wars Jedi: Fallen Order saw a release on the PS4 and Xbox One, that won’t be the case for its sequel, Star Wars Jedi: Survivor.

In the March 2023 edition of PLAY magazine, game director Stig Asmussen explained why Star Wars Jedi: Survivor isn’t appearing on last-gen consoles.


California’s housing shortage is so bad a university is considering a floating barge as a dorm. Students call it a ‘prison boat’

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Cal Poly Humboldt in Northern California is considering putting its students up on a barge eight miles away from campus, the San Francisco Chronicle reported.

Officials in the nearby town of Eureka are reportedly considering building more housing on parking lots, and in Arcata they are looking at rezoning industrial land.

“The idea of floating apartments or studios is one of many possibilities the university has been exploring,” Scott-Goforth said. »

‘Just wanted to scare him’: Chinese father who accidentally stabbed son to death with Japanese samurai sword in study argument gets 12 years’ jail

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The attack happened after Yang was told about his son's poor academic performance in an online meeting with a teacher.

A single father in southwestern China has been sentenced to 12 years in jail for accidentally stabbing his teenage son to death after an attempt to motivate the boy to study harder went wrong.

Yang told the court that in response: "I became so furious that I picked up a Japanese samurai sword and stepped forward to stab him". »