According to @mcuban, raising the tax on corporate share buybacks would place a greater burden on the largest public companies and wealthier investors while encouraging firms to reinvest in their businesses or pay dividends, which he frames as a way to raise funding; source: @mcuban on X, Aug 12, 2025, https://twitter.com/mcuban/status/1955393640077177095. For context, the United States already levies a 1% excise tax on net share repurchases enacted under the Inflation Reduction Act and effective for repurchases after December 31, 2022; source: U.S. Department of the Treasury and Internal Revenue Service, Stock Buyback Excise Tax guidance. The Administration subsequently proposed lifting the buyback tax to 4% in its FY2025 budget, underscoring an active policy debate around capital return methods; source: The White House, FY2025 Budget Fact Sheet. High buyback spending within the S&P 500 has been concentrated in mega-cap technology and communication services companies, with Apple, Alphabet, Meta, and Microsoft among the largest repurchasers, indicating that any higher buyback tax would most directly touch these cohorts; source: S&P Dow Jones Indices, S&P 500 Buybacks Quarterly report (2024). No direct crypto-market impact was mentioned in the source statement; source: @mcuban on X, Aug 12, 2025, https://twitter.com/mcuban/status/1955393640077177095.