In 1982, the SEC implemented Rule 10b-18, a quiet regulatory change that fundamentally altered the American economy. Before this shift, stock buybacks were often viewed as illegal market manipulation. However, this safe harbor rule allowed corporations to spend trillions of dollars repurchasing their own shares to inflate stock prices. Instead of reinvesting profits into worker wages, research, or infrastructure, companies now prioritize short-term shareholder value. This mechanism explains why executive compensation has skyrocketed while middle-class earnings have remained largely stagnant for decades. You are living through a system designed to extract wealth from your labor and redirect it to the top one percent. Understanding the mechanics of stock buybacks is the first step in realizing how the financial system was rewritten to ensure you never get ahead.
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