The author admits he wants to force companies to invest their profits in expansion instead of paying back shareholders, because he claims they have an obligation to maximize their wages and taxes paid.
If stockholders were never allowed to realize a profit, why would anyone ever buy stock at an offering?
The author sneers at icahn for not buying at the IPO, ignoring that icahn is making good on the implied promise that IPO investors would get to eventually cash out.
AMZN is a pretty good counter example of a company that invests in itself and it's workers rather than spend on stock buybacks or dividends. Surely someday in the future shareholders of AMZN will realize a profit!!!
The author admits he wants to force companies to invest their profits in expansion instead of paying back shareholders, because he claims they have an obligation to maximize their wages and taxes paid.
If stockholders were never allowed to realize a profit, why would anyone ever buy stock at an offering?
The author sneers at icahn for not buying at the IPO, ignoring that icahn is making good on the implied promise that IPO investors would get to eventually cash out.