Posted on 09/05/2024 11:15:32 AM PDT by ChicagoConservative27
Billionaire investor Mark Cuban warned Thursday on CNBC’s “Squawk Box” that Vice President Kamala Harris’ capital gains tax plan would “kill the stock market.”
Cuban said, “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.”
He added, “Based off the unrealized gains, I would have had to borrow money and I effectively would have been in hawk just to pay my tax bill instead of trying to run my company and a thousand other reasons. They realize that is the issue. I can’t repeat it enough. Even though she is not directly conflicting the Biden tax plan, to her her value proposition is, we need to tax everybody fairly.”
(Excerpt) Read more at breitbart.com ...
How long should I keep records?
Note that this section is for "Individuals" but under the "Small business and self-employed" heading.
3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.-PJ
Que Mala barely knows what a “stock market” is-she is just babbling talking points fed to her by obamahandlers...
I saw the interview. Cuban inferred that he convinced the Harris campaign to ditch the tax on unrealized gains but he spoke highly of her economic plan which was primarily adjust taxes to screw (my term) the rich. Rebecca Quick put him in his place asking if her plan is so great why won’t she talk about it in public. Cuban gave a BS answer. Too bad Joe Kernen wasn’t on the interview. He would have handed Cuban his ass.
7 years-—
HOWEVER—IF THEY CAN FIND YOU CHEATED-—THEY GO BACK AS FAR AS THEY WISH.
“I effectively would have been in hawk just to pay my tax bill”-should be “in HOCK”-as “in debt”. It has nothing to do with “hawks”-the author’s total ignorance is showing...
The sooner the democrats kill the stock market the sooner they can impose socialism you need big brother to take of you.
Exactly what I was going to say, you must be from the Burg.
“Hawk Tuah.”
Yeah, after I first thought of what it was supposed to be, I thought of that.
Originally, it was “hock ptooh,” or something.
That’s not a bug, that’s a feature!
I'm sure that Kamala has a solution to that: Tax the unrealized gains of the private equity companies, too!
Regards,
That’s the plan
So far this has been the only argument I have made inroads with my mother. She will never vote for Trump and will always vote for democrats, especially Kamala, because she’s a woman and very joyful. And ‘muh abortions’ which are what all 80 year old women care about. She never had to work so never cared about taxes and spending. BUT the family house she has lived in for 30 years, has probably increased 20 fold.
“Well mom, don’t forget to take out a loan or sell the house because you’re going to owe $200,000 dollars when she does this.” She has no idea how the real world works. Not sure what the old investments would be.
She will plug her ears and do what she does, “I don’t want to hear it.”
Isn’t he a Rat Party puppet?
So he is basically is saying and admitting it would destroy the economy, but he respects the sentiment behind the destruction.
If she’s elected, she’ll do what her handlers tell her, not what she promised on any particular day.
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