Anti-Trump billionaire Mark Cuban called in to CNBC this week and criticized Kamala Harris’s plan to tax unrealized gains, saying it would basically tank the stock market.
When the hosts pointed out that the plan was not only a bad idea, but that Harris has not been clear about her plans and is making things up as she goes along, Cuban tried to walk back his criticism and defend Harris, but the hosts kept pressing him.
Cuban eventually turned into a stuttering mess, saying ‘no’ over and over again.
The Daily Caller reported:
Mark Cuban Says Kamala Harris Would ‘Kill The Stock Market’
Billionaire investor Mark Cuban warned that 2024 Democratic presidential nominee Kamala Harris’s economic plan would “kill the stock market” Thursday on CNBC’s “Squawk Box.”
Harris proposed increasing the capital gains tax rate to 28% during an economic policy speech Wednesday in New Hampshire. Cuban, who is part of a group of over 800 venture capitalist investors and tech leaders who publicly endorsed the Democratic nominee, said Harris should tax all Americans fairly to avoid an economic catastrophe.
“What I told them is if you tax unrealized gains, you’re going to kill the stock market, right? 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, right?” Cuban said.
Cuban recalled a time when his net worth was high but his money in the bank was low, highlighting the potential effects of Harris’s capital gains tax plan.
More of the exchange from Twitter/X:
Mark Cuban gets flustered & says “no” 16 times after CNBC host Rebecca Quick said Kamala is just telling people what they want to hear.
“No, no, no, no, no, no, no, no, no, no, no, no, no, no, no,” Cuban said.
The “no” comment came after Cuban said Harris’ plan to tax unrealized gains would crash the stock market.
Cuban then assured the hosts that the Harris campaign told him “they realize” that taxing unrealized gains is an issue.
Here’s the clip:
NEW: Mark Cuban gets flustered & says “no” 16 times after CNBC host Rebecca Quick said Kamala is just telling people what they want to hear.
“No, no, no, no, no, no, no, no, no, no, no, no, no, no, no,” Cuban said.
The “no” comment came after Cuban said Harris’ plan to tax… pic.twitter.com/6B1WeqsqvC
— Collin Rugg (@CollinRugg) September 5, 2024
The reason Cuban got caught in this trap is because Harris has not been clear on her plans and policies. The CNBC hosts were exactly right to call this out in the way that they did.
Mike LaChance has been covering higher education and politics for Legal Insurrection since 2012. Since 2008 he has contributed work to the Gateway Pundit, Daily Caller, Breitbart, the Center for Security Policy, the Washington Free Beacon, and Ricochet. He has also written for American Lookout, Townhall, and Twitchy.
You can email Mike LaChance here, and read more of Mike LaChance’s articles here.
