Mark Cuban:If Your Company Is Moving For Tax Reasons, I'm Selling Your Stock

Business Insider ^ | 07/25/2014 | Myles Udland

[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.

[zzwhale]

for a shark.... that’s a STUPID MOVE.... less taxes more equity... besides the ussa tax rate makes ussa companies LESS COMPETITIVE in the marketplace.. In addition we are talking about $$$ earned offshore and companies pay taxes in each country they do business in... lower the tax rate.... then $$$ will come to the ussa and so will jobs..

[VideoDoctor]

Mark CubanL Immature DUMB A$$!

[jmaroneps37]

Just another reason to conclude that the Left is full of Shiite. This guy lives and works in a no state tax state - phony hypocrite.

[Theophilus]

Sounds like a social issue problem to me.