Posted on 07/25/2014 6:53:00 AM PDT by SeekAndFind
Mark Cuban isn't a fan of tax inversions, either. Last night, President Obama spoke with CNBC's Steve Liesman, and their first topic of conversation was the issue of tax inversions, or mergers where U.S.-based companies acquire foreign companies and move their tax base overseas to enjoy lower rates.
Obama said this strategy, among other things, "undermines people's confidence in how companies are thinking about their responsibilities to the country as a whole."
Cuban took his rhetoric a step further: he said he's selling stock in companies that move for tax reasons.
On Twitter this morning, Cuban fired off a series of tweets about how companies that move their tax base overseas to avoid paying taxes force existing taxpayers to make it up elsewhere.
(Excerpt) Read more at businessinsider.com ...
Good, because with the increase in profit, many more others will want to buy the stock.
So. I guess Mark would be against individuals taking advantage of tax laws to minimize their exposure.
You know, those Americans who file for EITC (Earned [ha!] Income Tax Credits).
Those Americans for file for Energy credits.
Those Americans who file for SSI [having paid not one DIME of funds to Social Security] for dependents of deadbeat absent parents.
Those Americans who file for Section 8 housing.
Those Americans who file for SNAP, TANF and any number of the 80 + entitlement programs.
You know, those Americans.
What could be fairer than that?
The Obama-Class stylized elites are nitwits.
If I were black, Hispanic, Muslim or similar, I’d probably say “Okay!”
And if a CEO is not considering major tax implications - then I’M selling the stock.
How many foreign players have played for Cuban with the Mavericks, they are taking jobs away from American basketball players.
Basically, anyone who does what the tax system incentivizes them to do is just plain no good. ;-)
They, liberals idiots and cretins, already have a multitude of “advantage cards.” Yet somehow, they always aren’t satisfied. Gotta demean, condemn and hamstring anybody that actually tries to make money legitimately and not have others subsidize them. A fat cat sports team owner certainly has no room to pontificate.
Cuban is trying like hell to get back into the good graces of the NBA following his ill-advised remarks during the Donald Sterling fiasco.
What if a company demands that a poor city provide huge subsidies to build a sports stadium that makes the company rich? Would you invest in that type of company, Mark?
He has probably been threatened by the administration for his “racist” remark; “If I see a black kid in a hoodie and it’s late at night, I’m walking to the other side of the street,” he said. “And if on that side of the street, there’s a guy that has tattoos all over his face — white guy, bald head, tattoos everywhere — I’m walking back to the other side of the street.”
Perhaps Cuban should put his money where his mouth is and move out of Texas, which has no state income tax, to another state with high state income taxes.
I think that Mark Cuban is more of a troll and a contrarian than a liberal, to be honest. He also angered the liberals by daring to suggest that most people might want to keep their distance from people dressed like Imam Iced Tea. That’s not something a liberal would say.
I’m interpreting his comment on investing as sarcastically mocking the liberal morons who “ethically invest”. If your company is finding a way to reduce its tax burden, then that means more money for the shareholders, which makes for a good investment. Companies which believe they are obliged to “give back to society” are terrible long-term investments, but you can play the stock market and exploit short-term liberal attraction to said companies.
What about companies that move offshore for cheap labor? Does Mark have a problem with that?
Did anyone ask Mark how many CPAs and Tax Lawyers he has on his payroll?
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