There's a legitimate use for buybacks, but I don't like seeing them used as a tax dodge over dividends. Rich shareholders can borrow more against their apprecia

There's a legitimate use for buybacks, but I don't like seeing them used as a tax dodge over dividends. Rich shareholders can borrow more against their appreciated assets post-buyback. But they're useless to poorer shareholders unless they plan to sell at that exact time. The recent proposal to tax borrowing against assets as realized gains might be the best way to thread the needle.