Buybacks are tax-efficient dividends. They aren't exotic financial transfers. If you'd prefer that corporations keep billions in rainy-day funds, invested in

Buybacks are tax-efficient dividends. They aren't exotic financial transfers. If you'd prefer that corporations keep billions in rainy-day funds, invested in low-rate federal bonds instead of being reinvested, or paid out for others to reinvest, that's an opinion, but don't claim the criticism is "buybacks", you're complaining about the entire concept of cash return on investment.