Stock buybacks may or may not be a good idea, but that is a decision for the company, not the government. How they spend the money they earn is their business, alone. These two dumbasses also demonstrate a lack of basic knowledge of corporate finance:
"When a company purchases its own stock back, it reduces the number of publicly traded shares, boosting the value of the stock to the benefit of shareholders and corporate leadership."
This is false. It does nothing with respect to the value of the stock (see GE or IBM), but merely exchanges one asset - cash - for another - company stock. The value of the stock is determined by the stock market. Finance 101, folks.
And then this..."First, stock buybacks don’t benefit the vast majority of Americans." No shit, Sherlock. And since most don't own stocks, neither does the stock market.
This would likely drive companies to divert more of their money to dividends, but no worries! Our heroic liberal warriors are ready for that, too:
"Some may argue that if Congress limits stock buybacks, corporations could shift to issuing larger dividends. This is a valid concern — and we should also seriously consider policies to limit the payout of dividends, perhaps through the tax code." They'll tax the shit out of companies wanting to give more money to those that own the company - the shareholders. Let that sink in.
This has zero chance of ever happening.
Link: Limit Corporate Stock Buybacks