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Mark Cuban:If Your Company Is Moving For Tax Reasons, I'm Selling Your Stock
Business Insider ^ | 07/25/2014 | Myles Udland

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: markcuban; taxes; taxinversion; twitteroutrage
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1 posted on 07/25/2014 6:53:01 AM PDT by SeekAndFind
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To: SeekAndFind

Good, because with the increase in profit, many more others will want to buy the stock.


2 posted on 07/25/2014 6:56:59 AM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: SeekAndFind

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.


3 posted on 07/25/2014 6:57:18 AM PDT by Gaffer
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To: SeekAndFind
I've got an idea: Let's just have a 100% tax rate, and the government will send you a check for what they think you deserve.

What could be fairer than that?

4 posted on 07/25/2014 6:58:40 AM PDT by E. Pluribus Unum ("The man who damns money obtained it dishonorably; the man who respects it earned it." --Ayn Rand)
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To: SeekAndFind
Thankfully these companies foreign investors are wise enough to move their profits where such things are not discouraged by government policy.

The Obama-Class stylized elites are nitwits.

5 posted on 07/25/2014 6:59:21 AM PDT by Prospero (Si Deus trucido mihi, ego etiam fides Deus.)
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To: E. Pluribus Unum

If I were black, Hispanic, Muslim or similar, I’d probably say “Okay!”


6 posted on 07/25/2014 6:59:33 AM PDT by Gaffer
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To: SeekAndFind

And if a CEO is not considering major tax implications - then I’M selling the stock.


7 posted on 07/25/2014 6:59:42 AM PDT by PGR88
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To: C210N

How many foreign players have played for Cuban with the Mavericks, they are taking jobs away from American basketball players.


8 posted on 07/25/2014 7:00:09 AM PDT by dfwgator
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To: Gaffer

Basically, anyone who does what the tax system incentivizes them to do is just plain no good. ;-)


9 posted on 07/25/2014 7:00:48 AM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: cuban leaf

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.


10 posted on 07/25/2014 7:03:42 AM PDT by Gaffer
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To: SeekAndFind

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.


11 posted on 07/25/2014 7:05:46 AM PDT by Arm_Bears (Rope. Tree. Politician. Some assembly required.)
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To: SeekAndFind

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?


12 posted on 07/25/2014 7:06:53 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: SeekAndFind

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.”


13 posted on 07/25/2014 7:08:10 AM PDT by Rusty0604
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To: SeekAndFind

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.


14 posted on 07/25/2014 7:09:05 AM PDT by So Cal Rocket (Task 1: Accomplished, Task 2: Hold them Accountable!)
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To: SeekAndFind

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.


15 posted on 07/25/2014 7:10:10 AM PDT by Objective Scrutator (All liberals are criminals, and all criminals are liberals)
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To: SeekAndFind

What about companies that move offshore for cheap labor? Does Mark have a problem with that?


16 posted on 07/25/2014 7:10:34 AM PDT by tanknetter
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To: SeekAndFind
I'm not a Twitter.

Did anyone ask Mark how many CPAs and Tax Lawyers he has on his payroll?

17 posted on 07/25/2014 7:10:41 AM PDT by TexasCajun
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To: SeekAndFind
When government gets too bad, you move with your feet. Business Corporations are people and can move with their feet.
18 posted on 07/25/2014 7:11:11 AM PDT by Robert357 (D.Rather "Hoist with his own petard!" www.freerepublic.com/focus/f-news/1223916/posts)
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To: SeekAndFind

19 posted on 07/25/2014 7:12:18 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SeekAndFind
Only the U.A.E. has a higher corporate tax rate, 55%, than the United States at 40%.

Global Corporate tax rates table

20 posted on 07/25/2014 7:14:27 AM PDT by TexasCajun
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