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Tim Cook's 'not even a quarter baked' justification for Apple's $100 billion stock buybacks has baffled some economists
Apple CEO Tim Cook recently offered a novel argument to justify the company's use of share buybacks.
Cook said that Apple's $100 million in planned buybacks will boost the economy because of the capital gains taxes investors pay when they sell their stock.
Economists that Business Insider spoke to were perplexed by Cook's reasoning; one called it 'ludicrous.'