Quote:
Originally Posted by Tyrone Slothrop
That's a policy gain in the same way that it would be if the government seized the entire company.
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I actually think closing tax loopholes can lead to real world efficiency gains, but even if you do not, changing the incentives of those deciding whether or not to buy back is not merely confiscatory. Who knows what wonderous things they might suddenly discover to invest in if they didn't have the alternative option of using company cash to enhance the value of their holdings.
