Posted on 09/06/2024 7:26:39 AM PDT by Red Badger
Anti-Trump billionaire businessman and investor Mark Cuban unwittingly criticized Kamala Harris’s plan to tax unrealized gains, admitting it would tank the stock market.
During an interview with CNBC, Cuban suddenly became flustered when the hosts pointed out that Harris’ plan was not only a bad idea but that the Vice President had not been clear about her policies.
Realizing that he had just told the truth on national TV, Cuban tried to walk back his criticism and defend Harris, which only made things worse.
Cuban became increasingly agitated, stuttering and repeatedly saying “no.”
During a speech in New Hampshire this week, Harris proposed increasing the capital gains tax rate to 28%.
Cuban said that Harris should tax all Americans fairly to avoid a catastrophe for the economy.
“What I told them is if you tax unrealized gains, you’re going to kill the stock market, right?” Cuban said.
“And it’s going to be the ultimate employment plan for private equity because companies are not going to go public because you can get whipsawed, right?” he added.
Cuban then highlighted g the potential effects of Harris’s capital gains tax plan by recalling a time when his net worth was once high but his money in the bank was low.
According to commentary from the Conservative X account, Colin Rugg, Cuban gets flustered and says “no” 16 times after CNBC host Rebecca Quick points out Harris is just telling people what they want to hear.
“No, no, no, no, no, no, no, no, no, no, no, no, no, no, no,” Cuban said.
Cuvan’s repeated “no” came after he said came after he said Harris’ plan to tax unrealized gains would crash the stock market, which is actually the truth.
He then told hosts that the Harris campaign told him “they realize” that taxing unrealized gains is an issue.
Sure they did.
Watch
VIDEO AT LINK.......................
Harris has not been clear on her plans and policies, mainly because her policies are so bad she’s being advised to hide them until after the election.
Democrats hope that voters’ hate for Trump will be enough to motivate them to vote for Harris.
“I actually think the way the American people think about this choice is less about the minutiae of policy and more about the direction of the country, number one, and secondly, about the person. Character it does matter,” Michigan Rep. Dan Kildee told CNN.
This clown has been a communist for as long as I can remember.
This clown has been a A-hole for as long as I can remember..................
Well, he’s definitely got the perfect commie name.
I am certain that Mark Cuban would simply receive advance knowledge of what is going to happen I. The stocks and short the market. The rich make a lot of money off the stock market when it makes big swings either way.
This tax plan is a fake promise for stupid voters. It will be forgotten by mid November.
Cuban is/was an owner of a sports team.
Tax on ‘unrealized gains’ would kill the sports industry.
A team bought for a few million back in the 80’s would now be worth several billion, a huge ‘unrealized gain’ that the owner would owe taxes of up to 40% on. EVERRY YEAR!...................
It wouldn’t just crash the stock market, it would crash the real estate market and any other asset market.
Also say goodbye to pensions, 401k’s and state property taxes. They will crash along with the market.
Not only stepped on it but stomped it with both feet!
Unrelated but interesting- Alan derschowitz leaves democrat party. His announcement is at 5:20 or
https://youtu.be/Ono3fnkVjPo?t=306
Your Social Security fund is an unrealized gain.
Indeed Soros winks
If a “tax on unrealized gains” really says what it purports, then that’s about dumbest thing I ever heard of. If you tax on unrealized gains, then what amount would you tax? If you overdo it (most likely) then that tax would most likely kill any possible future gains & very likely destroy the business. What kind of moron could possibly promote such a thing? There was one thing just about as stupid that was proposed (not passed) many years ago. As I recall when Bill Clinton was president, he or some other Demwit proposed taxing a homeowner on whatever his profits would be IF he rented out his property...even though said property was not rented out. Unrealized gains; same thing.
Yes, but is he voting for Trump?
Under communism the ordinary folk are all equally poor, deprived and miserable. The party elite gets special privileges and lives high off the hog. That’s what horizontal harris wants for us.
If you have a political party whose BASE is POOR, UNEDUCATED, DISAFFECTED MINORITIES and MENTAL DEFECTIVES, you are going to make damn sure you NEVER RUN OUT of POOR, UNEDUCATED, DISAFFECTED MINORITIES and MENTAL DEFECTIVES!
In fact, you will INCREASE THEIR NUMBERS EVERY CHANCE YOU GET!...................
We bought our home for approximately $70k back in ‘02.
It is now worth, according to the County Property Appraiser office, just shy of $200k.
That’s an ‘unrealized gain’ of $130k that we would owe taxes on. At 40% that would be $52k WE DO NOT HAVE................
Every YEAR!...........................
hes not revealing- probably doesn’t want the left destroying him further over his decision
Maybe that is the plan.
You will be forced to sell your house. To Blackstone.
YOU WILL OWN NOTHING AND LIKE IT
Absolute ingrate .
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.