Billionaire investor Mark Cuban has extended an invitation to Tesla and SpaceX CEO Elon Musk to engage in a direct discussion about Vice President Kamala Harris’ tax policies and approach.
What Happened: Over the weekend, Musk shared a user’s post on X, formerly Twitter, that criticized Cuban’s stance on taxation. The post alleged that Cuban, a frequent communicator with Harris’ campaign, advocates for higher taxes for the top earners in the US.
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In response, the “Shark Tank” star offered Musk the chance to directly question him about Harris’ policies. He also asked Musk to share his insights about the Republican candidate Donald Trump in return.
Earlier this month, Harris revealed plans to implement a 25% tax on unrealized capital gains for individuals with a net worth exceeding $100 million. At the time, Cuban appeared on CNBC’s “Squawk Box” saying that Harris has no plans to tax unrealized gains.
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“I'm not going to speak for the vice president, she makes the final decision,” he stated, adding, “I'm talking to these folks three, four times a week, having back-and-forth conversations, and their verbatim words to me is, ‘That's not where we want to go.'”
Why It Matters: This latest development comes in the wake of concerns raised by Kevin O'Leary, chairman of O'Leary Ventures, about the potential negative impact of Harris’ tax policies on the U.S. economy.
O'Leary warned that these policies could hinder capital growth and disrupt the American dream. “That’s a debate that's going on in terms of the classic, ‘make the rich pay their fair share. That's a narrative that goes into every single election cycle.”
Meanwhile, Cuban has been vocal about his support for Harris, particularly her policies around entrepreneurs and startups. He has praised Harris for being pro-business and more supportive of entrepreneurs than any other recent candidate.
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