Kamala Harris will kill the stock market if she is elected as U.S President, says Mark Cuban
capital gains. This will only be applicable to individuals whose net worth is above $100 million, meaning that the state will tax rich individuals if the value of their assets increase, even if they don't sell anything.
Mark Cuban slams terrible proposal
Cuban has said that it is a terrible proposal as it will force big investors to sell their stocks and assets in order to pay their taxes, which will eventually lead to a crash in the market. The Dallas Mavericks owner has also warned that this will prevent entrepreneurs to make their companies public to avoid any complications arising from taxes.
Cuban has also apprehended that investors would become less interested in backing start-ups if the measures proposed by Harris are put into effect.
Cuban worried about wealthy investors losing confidence
A de-stabilization of the financial cycle will also be a cause of worry, according to Mark, as wealthy investors will rely on acquiring loans against their investments that would create an extensive load of debt on the economy. He also added the fact that companies would begin avoiding going public with their infrastructure and plans in a bid to avoid taxes, in the case that Harris comes to power, based on the planned economic policies and decisions, as being portrayed recently.
However, Cuban has said that Harris is willing to take feedback from big businessmen to shape her economic plans and policies.
On the contrary, Donald Trump, Republican Presidential nominee and billionaire entrepreneur, has been a vocal
