[maximente]

i'm assuming long term rate here: 15% income > $38K, 20% > $425K, which is the same as dividends; obviously, short term is way higher as you've noted.

so they'd pay half the taxes in this case - you can plug in different numbers to see a different effect, e.g. $50 purchase => $60 buyback across $1mil dollars. i probably should have done this for clarity's sake.

[dinedal]

Thanks for the followup!