Billionaire Mark Cuban got highly defensive after a CNBC anchor pointed out that Kamala Harris has been tight-lipped about policy and seems to only be telling people what they want to hear.
Cuban acknowledged that Harris' proposal to tax unrealized gains would destroy the stock market. The proposal would impose a 25% tax on gross income or capital gains over $100 million.
“This would be the ultimate private equity hiring plan, because companies are never going to go public,” Cuban explained, noting that in the early days of the internet, “cash was scarce” but “equity was abundant.” Harris' plan, he said, would have been detrimental to his business operations at the time.
But Harris' plan is to “tax everyone fairly,” Cuban added.
“How much time would be enough? I mean, two weeks?”
Host Becky Quick said she appreciated Cuban calling in to explain what she was hearing from the Harris campaign, but that she couldn't speak for her. “No one knows what they're telling other people,” Quick continued. “My guess is, they're telling everyone who donates exactly what they want to hear at this point.”
“No, no, no, no, no, no, no, no, no, no, no, no, no, no, no. Absolutely not, never,” Cuban interjected.
“Why would they tell you the truth and not tell other people something else? If they won't say it publicly, then they can say it publicly,” Quick responded.
Cuban said he agreed, but that people need to be in the right frame of mind when discussing the issue. Quick noted that with less than two months until the election, Harris has not been very forthcoming about her position.
Cuban dismissed Quick's assessment and said he was OK with Harris taking a position on the eve of the election. When asked what an acceptable deadline for Harris to explain her position, Cuban returned to the issue of the unrealized gains tax, saying it would affect only a small number of voters.
“It's just not a priority for her.”
When pressed, he suggested the timeline explaining her position wasn't very important.
“You're not going to get the full details up front, and I'm OK with that. … How much time is enough? I mean, two weeks? How long is it going to take us to understand this information?” Cuban asked.
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