Mark Cuban Praises Kamala Harris' Support For Business: Is Her New Tax Plan A Game-Changer?

Billionaire entrepreneur Mark Cuban continues to share his support of Vice President Kamala Harris as she pushes on in the presidential race – particularly regarding policies around entrepreneurs and startups. 

Recently, Cuban posted on X, "Kamala Harris is listening to business leaders and gathering their feedback on what's fair and what will lead to more investment in businesses. She is pro-business. She is more supportive of entrepreneurs than any other candidate in recent memory. It's only going to get better."

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Accompanying his post, Cuban shared @unusual-whales' post about Harris's proposal for a 28% tax on long-term capital gains for any household with an annual income of $1 million or more. This rate is lower than the 39.6% that President Joe Biden outlined in his 2025 fiscal budget. 

Cuban also praised Harris for her support of entrepreneurs and being willing to listen to those in the business. After her speech in New Hampshire, Cuban remarked, "She’s talked more about entrepreneurs and helping them have access to investment and making it easier for people to invest in startups than any president that I’ve ever heard." 

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While Cuban's support of Harris's tax plan demonstrates his belief that it will help businesses, critics are quick to argue that an increase in capital gains taxes could slow economic growth and discourage investment – particularly in innovation and startups. Entrepreneurs rely on capital to fund risky ventures, and higher taxes could cause potential investors to hesitate. 

Cuban's endorsement of Harris as a pro-business candidate signals a shift in how some business leaders perceive her policies. By prioritizing entrepreneurship and creating more investment opportunities, Harris may have found a way to appeal to progressive and moderate voters. Cuban himself met with Harris's team to offer insights on how capital gains taxes could impact small business investments. He believes her willingness to listen and adapt is a sign that she's aligned with business interests, particularly those of underrepresented groups.

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However, some experts remain cautious, questioning whether this tax plan alone will be enough to spark long-term growth in the small business sector. Harris's success may depend on how entrepreneurs and investors receive these policies.

As debates about the capital gains tax continue, the issue remains divisive. Whether Harris's proposal will indeed be a game-changer for entrepreneurs remains to be seen.

If you're concerned about how either presidential candidate's economic policies could impact your investments or business plans, it's wise to stay informed on the developments during and after the election. With complex tax laws and changes on the horizon, talking to a financial advisor can help you better understand the implications of these changes for your individual circumstances. 

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