Reply to thread

Message: <blockquote data-quote="Up In Smoke" data-source="post: 4413727" data-attributes="member: 79702"><p>Of course it's all speculative, but without the tax reduction, companies wouldn't have bought back stock.  PE ratios were inflated and companies valuations were skewed to the unrealistic levels.  The fact that the current "bailout" will include stock buy back restrictions shows that the government recognizes the flaws in the Tax Cuts and Jobs Act of 2017.  Giving businesses blank checks and hoping that they write them responsibly was a miscalculation by this current government.  I agree the Dow would most likely be in the 12,000-14,000 range without the tax breaks, but also believe that the Dow would have not gotten above 26,000 also.</p></blockquote><p></p>