"If purchasing a stock and seeing it increase in price is payment for investing in a growing company, that company repurchasing those shares—and the previous shareholder seeing a profit—is payment for divesting in said company. When the company has financed the buyback through courting other investors via the corporate bond market, an image of a house constructed only of cards begins to manifest in one’s mind."

https://news.bloombergtax.com/daily-tax-report-state/biden-falls-short-with-his-single-digit-stock-buyback-excise-tax

@law@a.gup.pe