29 ms·

Why?

• rektide 4y ago
  Buybacks consolidate ownership, make the company recede from the public. As a side-effect, it often can raise the price, which I don't have any strong opinion on right now, but "feels" shady. But withdrawing your company from the public with buybacks, going more private, certainly seems like the sort of thing we absolutely positively should tax the shit out of. Distribution of money has no real impact on ownership. It lets every shareholder decide what to do with that money as they may. This is a much more neutral act.