Billionaire investor Mark Cuban said VP Harris is “100% centered” on monetary policy, the day after she proposed a lower capital gains tax increase than President Biden.
Cuban praised Harris' speech in New Hampshire on Wednesday, where she unveiled a new economic plan focused on promoting small businesses, and described the vice president as “pro-business.”
“This is Kamala Harris' campaign. It's not Joe Biden's campaign, right? Kamala Harris is not Joe Biden. They are very different. She's — and this is how I see it — trying to be very respectful of the president and everything he's put forward. She's trying not to directly contradict the president in any way,” he said on CNBC's “President Trump” on Thursday. “Squawk Box”.
“She's talking a little bit about taxation, but she's 100% in the middle,” he added. “If you read the transcript of her speech yesterday, she's talking more than anyone else about entrepreneurs and helping them access investment and making it easier to invest in startups.”
Harris said in her speech Wednesday that she wants to raise capital gains taxes to 28% on people earning more than $1 million, up from the current effective rate of 23.6% but far below the 44.6% the Biden administration proposed in its July budget proposal.
Cuban said he has met with Harris' team about what proposals Harris should make on capital gains taxes to support investment in small businesses.
“I'm literally saying the higher the capital gains, the harder it is to make riskier investments. And the people who have the hardest access to risk capital are women, people of color, people right out of college — exactly the people you want to take the risk on,” he said.
“The higher the cap gain rate, the harder it is to invest, for obvious reasons, and investors understand that and have adapted as a result,” he added.
Cuban has frequently criticized former President Trump for his comments on the economy, and last month he endorsed Minnesota Gov. Tim Walz, a Democrat, saying: [known] Him forever.”
