Posted on 09/07/2024 10:29:53 AM PDT by MinorityRepublican
Billionaire Mark Cuban acknowledged that Vice President Kamala Harris' plan to tax unrealized capital gains would "kill the stock market," while insisting that she won't go through with it as dubious CNBC hosts pushed back in a contentious interview Thursday.
Cuban joined CNBC's "Squawk Box" on the phone to discuss his support for Harris, revealing that he regularly communicates with her campaign to advise on economic issues.
The interview took a turn when Cuban was asked about the Biden administration’s proposal – which the Harris campaign has indicated it supports – to tax investment returns that have not yet been realized.
Cuban said he disagreed with the premise of taxing unrealized gains, but insisted that it would not happen under a Harris presidency. He said the Harris campaign is using the Biden tax plan as a "starting point," but that it's "not necessarily her ending point."
"What I told them is if you tax unrealized gains, you’re going to kill the stock market, 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," the "Shark Tank" investor said.
He added that in the early stages of a company's development, it is common to be "cash poor" despite having equity.
"My own personal experience back from the internet days, all of a sudden… my net worth was enormous but the number of dollars in the bank wasn't enormous," he said, "Based off the unrealized gains, I would have had to borrow money and I effectively would have been in hock just to pay my tax bill instead of trying to run my company."
(Excerpt) Read more at foxbusiness.com ...
What a communist dipshit Cuban is.
But Cuban will vote for her anyways.
He is dreaming!! Harris will do it per whoever is handling her!!!!
“... she won’t go through with it...”
If he jay walks across the street right in front of a car that has a person driving it that doesn’t care about him, how long is he going to last? He’s suicidal, not occupied.
wy69
“Don’t worry, Mr. Stalin loves everyone. He isn’t really going to execute half of you and imprison the other half. I’m sure of it”
- Dips**t Weasel Leftist in 1932
So Harris, after raking flak for having no policies, announces one big policy (that is stupid) … but even her backers say she is not serious?
Got it.
IOW, vote for her because she’s lying.
If the Left can kill the stock market, it will.
Leftism is the Road to Serfdom.
To quote Mario Joyner on "Seinfeld" ... JACKASS!
I guess he knows her better than she does.
Seniors will be kicked out of their houses if they have to pay taxes on the unrealized gains of the price of their homes.
Cuban is smart enough to know she will say anything yet dumb enough to think she won’t try it.
bttt
Does Mark Cuban care that his Democrat Party prevented countless business owners from running their companies during covid lockdowns?
Does Mark Cuban care that his Democrat Party is doing everything in their power to prevent political opponents like Donald Trump and Steve Bannon from running their companies?
No. Because Mark Cuban is a self-important asswipe.
That's a feature, not a bug.
“She says it but she won’t do it” may be a perfectly accurate summation of broken political promises but as a reason to vote for somebody it comes up a mile short. Cuban might just as well have said “Don’t worry, she’s lying.”
Mark Cuban says:
Vote for Our Girl!
She won’t really do what she says!
Unless they only target a few hundred billionaires, there is no logistical or practical way to remotely accurately track unrealized capital gains on any asset class, much less for over two hundred million people. Even AI couldn’t parse that accurately. It’s nonsense.
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