Shark Tank star and former owner of the Dallas Mavericks is one of Kamala Harris’ high-profile backers.
But now Cuban is causing Kamala Harris big time problems.
And Mark Cuban let a secret slip about Kamala Harris that will shake her to the core.
Cuban admits Kamala Harris tax plan will crash the stock market
Kamala Harris introduced very few proposals.
One plank of her economic policy agenda involved an unconstitutional socialist scheme to tax unrealized gains.
Taxing unrealized gains means that if an investment in a house, stock, or business increases in value, the government taxes the owner even if they don’t sell the investment and turn a profit.
The 16th Amendment only allows for tax on income, and this tax is straight up wealth confiscation.
Cuban appeared on CNBC’s Squawk Box with Andrew Ross Sorkin and Rebecca Quick to make the case for Kamala Harris.
But Cuban crashed and burned.
Cuban admitted to Sorkin and Quick that he told Kamala Harris’ campaign that a tax on unrealized gains would “kill the stock market.”
“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,” Cuban stated.
Cuban explained how this could put people out of business.
“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,” Cuban added.
Cuban admits Kamala Harris has no policy details
Cuban said he talks to the Kamala Harris campaign multiple times per week and claimed the campaign wasn’t wedded to this tax scheme.
But Quick pushed back, asking how he didn’t know the campaign wasn’t just telling him what he wanted to hear.
“I appreciate you calling in and telling us what you’re hearing on these fronts, that’s great, but as you said yourself, you can’t speak for the vice president. These are things they’re telling you. Who knows what they’re telling other people. My guess is they’re telling anybody who is donating to them exactly what they want to hear at this point,” Quick replied.
Cuban tried to push back.
“No, no, no, no. Absolutely, positively not,” Cuban answered.
“Why do you think they’re telling you the truth and not telling other people other people other things? If they won’t say it publicly. Say it publicly so we can hold you to it,” Quick pushed back.
Cuban said, eventually, at some point, Kamala Harris would get around to spelling out the details of her plan.
“I get it, but you’ve got to get the details right,” Cuban stated.
Quick was taken aback by that answer and reminded Cuban that time was running out before Election Day.
“Yeah, but we have 60 days until an election!” Quick exclaimed.
Sorkin asked when it was a real timeline for Kamala Harris to spell out how she planned to govern.
Cuban claimed the details of this plan didn’t matter to the public because – even though Cuban admitted he didn’t know the specifics – he thought it would only affect the super-rich.
“The number of people this truly impacts is less than 1% of the voting population and so this is not number one priority for her, it’s not, in terms of speaking about it and getting the word out. She wanted to talk about entrepreneurs, startups, founders first,” Cuban remarked. “The people like me in my position, we’re not at the top of the list. We’re closer to the bottom, so we’re not going to get that full, detailed disclosure first, and I’m okay with that.”
This conversation is why Kamala Harris isn’t putting out policy proposals.
Policy proposals mean details.
Details mean the Trump campaign and the media can pick apart Kamala’s plans and turn news cycles negative as Americans become aware of Kamala Harris’ hair-brained economic schemes.
