Mark Cuban Shreds Elizabeth Warren Over Tax Plan
- 5.8K Views
Billionaire businessman Mark Cuban shredded Senator and 2020 presidential candidate Elizabeth Warren on Saturday for her proposed tax plan that would substantially raise taxes on the wealthy. “Add them up and many of the very wealthiest could pay a marginal effective tax rate on their investments that exceeds 100 percent," Forbes reported.
Cuban made sure to slam Warren for her socialist plan saying, “The reality for @ewarren is that this is as much to divert attention from her income and net worth as anything else. Other than steyer she is the wealthiest of all the Dem Candidates. By far.”
The reality for @ewarren is that this is as much to divert attention from her income and net worth as anything else. Other than steyer she is the wealthiest of all the Dem Candidates. By far. https://t.co/IuW5pVo6Sd— Mark Cuban (@mcuban) November 9, 2019
He wasn't finished. Cuban went on to hammer Warren for her hypocrisy. "According to her filings she made 900k last year which means her family earns more than 2x the amount needed to be a 1 percenter. She paid 25.5% of that in taxes which is less than the % I paid in taxes (29.85%)" he continued.
***EXCLUSIVE OFFER: Which of these 6 Trump products would you like for FREE?***
Cuban added that Warren was "filthy rich" considering she is worth around $12 million.
"Forbes says her networth is north of $12m . That's being rich. Filthy rich. I'm sure it's richer than she ever imagined she would be. Good for her. She earned it. It puts her millions above the threshold for being part of the richest 1 percent by networth in our country," he said.
Forbes says her networth is north of $12m . That's being rich. Filthy rich. I'm sure it's richer than she ever imagined she would be. Good for her. She earned it. It puts her millions above the threshold for being part of the richest 1 percent by networth in our country— Mark Cuban (@mcuban) November 9, 2019
Warren's plan is so ridiculous that some billionaire's would actually pay more in taxes than they make.
“So in some cases and some years, multibillionaires could owe the government more than they made in profits. That’s because these taxpayers would be taxed at a 6 percent rate even if their portfolios held, say, Treasury bonds that paid just 2.5 percent,” the New York Times reported.
Check out what the Daily Wire reported:
In September 2017, The Washington Times reported that Warren met WRKO radio host Jeff Kuhner and nodded when Kuhner commented, “Question: You often say, and I agree with you, that the 99 percent are getting shafted by the one percent. You live in Cambridge, you’ve got a $2 million mansion.”
Kuhner continued, “Plus you’re a multimillionaire yourself. How can you rail against the one percent, when in a sense, you are and live like the one percent?”
Back in January, Politico reported on how Starbucks CEO Howard Schultz hammered Warren’s tax plan, “which would create a 2 percent wealth tax on those with a net worth above $50 million and impose an additional 1 percent on net worth above $1 billion.” Schultz shredded, “However, when I see Elizabeth Warren come out with a ridiculous plan of taxing wealthy people a surtax of 2 percent because it makes a good headline or sends out a tweet when she knows for a fact that’s not something that’s ever gonna be passed, this is what’s wrong. You can’t just attack these things in a punitive way by punishing people.”
What are your thoughts? Let us know in the comments below!