Biden’s 1% buyback tax is not damaging inventory costs as critics feared

The 1% excise tax on company inventory buybacks that took impact at the start of 2022 didn’t play a major function in inflicting the bear market in U.S. shares.

That’s the conclusion I reached from analyzing just lately launched information on buyback exercise in 2022. At the extent of precision that the information enable, the tax had little- to no noticeable impression on the extent of the general market.

This…