Mark Cuban ‘Scalps’ Elizabeth Warren Over Tax The Rich Comments

"The idea of just soak the rich billionaire tiers that sell that cup, screw you, Elizabeth Warren, you’re everything wrong with politics.”

Before the 2020 election, the Democrats eagerly searched for the right person to represent their party against former President Donald Trump. The list was long, with key Democrats like Joe Biden and even Elizabeth Warren. Trying to set herself apart from the rest of the group, Warren harped on the importance of an “ultra-millionaire tax.” The extreme taxation would only affect people with a net worth of at least $50 million. Although Warren didn’t receive the nomination, she continues to criticize billionaires like Elon Musk, Jeff Bezos, and several others. Recently, billionaire Mark Cuban sat down at the Vox Media’s Code Conference and unleashed a few thoughts on the progressive Senator. 

In the video, which can be watched below, Mark Cuban, who is currently worth over $4 billion, admitted that he didn’t mind being taxed more, but the extreme ideas promoted by Senator Elizabeth Warren were cause for concern. “I don’t mind being taxed more. I wrote a blog 20 years ago saying it’s the most patriotic thing you can do after military service is pay your taxes because that’s what allows everybody to live and to prospect. But yeah, the idea of ‘soak the rich,’ billionaire tears that fill that cup — screw you, Elizabeth Warren. You’re everything that’s wrong with politics.”

Again, with Elizabeth Warren being viciously outspoken when it comes to billionaires in the country, this isn’t the first time Mark Cuban spoke out against the Senator. Back in October of 2021, he said, “I do understand what their goal is, what I think their goal is, which I think is trying to help bring people up from the bottom, to help reduce income inequality, which I think is something we definitely have to address, but the way to do that is not just trying to tax unrealized gains.”

Showing that he was open to discussions, Mark Cuban also offered a solution. “I would have no problem if there was incentives or programs that incented companies to provide stock to employees, all employees, and even did something that created a ratio in terms of stock that’s issued to the CEO versus stock that is issued to the least paid employee because by offering stock, or warrants or options to the least paid of all employees, you are giving them appreciable assets. The only way to allow the bottom to keep up with the top earners and those with the top wealth, like myself, is not to change the incentives for investing and tax unrealized gains. It’s to enable appreciable assets for those that traditionally don’t have them. That’s the change that needs to happen.”

Days after Cuban’s statement, Elizabeth Warren shot back on MSNBC, “Mark Cuban’s problem is not that I don’t know what I’m talking about. Mark Cuban’s problem is that I know exactly what I’m talking about. We need to change the laws, so they’re not written just by the lobbyists for Mark Cuban and his buddies.” 

This piece was written by Jeremy Porter on September 8, 2022. It originally appeared in LifeZette and is used by permission.

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