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.
“Taking from the productive and responsible, and giving it to the unproductive and irresponsible, is not even “communism.” It’s just outright robbery. The Democrats have gone from tolerating robbery to honing it to a fine art — and their confederates in the media will assure us that is how the game is played.
Kamala has a 3rd graders understanding of economics — like most self-proclaimed Marxists. She shouldn’t be running a lemonade stand — let alone a country.
Unfortunately, most of the celebrities endorsing her — have no understanding at all. They don’t know what they want to do in life when they “grow up” but are certain they want to be rich and famous. They think toeing the Democratic Party line puts them first in line for all the unlimited free money.
So all the Democrat cities are going to do nothing while their cities crumble into disrepair and despair — because if they fix anything, they’ll no longer qualify for all the unlimited free money Kamala is implying she will give to them. But no promises of actually delivering anything — just the implication that that is what all the government taking is for.
Atlas Shrugged in a nutshell.................
Sixteenth Amendment
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
The meaning of DERIVE is to take, receive, or obtain especially from a specified source.
Yes and your garden is imputed income and should be taxed!
Pretty soon were going to owe way more in taxes than we ever made in our life.
Here’s a question about taxing unrealized gains. Since I am assuming the “gains” were pre-taxed, what if they turned out to not be gains at all, but losses? Not sure how all this works, but it sounds suspicious at best. If one’s S.S. fund is an unrealized gain, that could turn out to be a BIG loser I would think. How do you figure a gain before it becomes one?
They will tax your investments when they go up. But if they lose value, you are SOL. They aren’t going to refund taxes on unrealized losses.
there would be no boundaries on taxing
they can make numbers up and there would be nothing to stop them
a couple of my brothers have 4 billion dollar "potential" - they stopped at 4 million, but the taxes would be owed on the 4 billion unrealized gains
unrealized gains is how we will end up owning nothing and dying in the gulag
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