Mark Cuban Disses GOP Tax Reform: ‘I Wouldn’t Mind’ if My Rates Were Raised

‘I haven’t done all the math I don’t know I really don’t I mean, it truly is an algorithmic problem’

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REPORTER: “Let’s talk about the prospect of tax reform you’ve seen the plan your take?”
CUBAN: “We haven’t seen details but look, it’s structured based off a theory. If I listen to Larry Kudlow, it’s all theory, theory, theory -- we need to eliminate the theory. We live in an active age if you want to help working class workers or families, you reduce payroll taxes, payroll taxes is a tax on every hour that we work. It still has to support Medicare and Social Security. You have to find it by eliminating deductions in some other way from the general fund. If the goal is to increase wages which haven’t increased in 20 years, that’s the way to do it if part of the goal is to get not just money repatriated but also to get companies to move here or stay here, instead of just saying we’re cutting our corporate tax rate to 20%, why not go to the Fortune 500, the CEOs, why not go to the most profitable 5,000 companies in this interactive day and age, say put it in your spreadsheet if I get you this tax rate, 20%, I want a commitment that, a, you’re going to increase wages by X% for your hourly employees, or B, you’re going to commit to whatever it is we think is going to improve the economy the most. There’s no reason to base it off of theory anymore. In the ‘60s, we could do that.”
REPORTER: “You know you’re not going to get a commitment from any companies.”
CUBAN: “Then what’s the point of doing it?”
REPORTER: “Ostensibly, it will circulate through the economy.”
CUBAN: “There’s no such thing as ostensibly we saw a trump bump because ostensibly someone ran the map, and the map is the map if a company is going to have a true effective rate of 20% and they were at 25%, what are they going to do with the delta how are they going to invest it? If the goal is to increase wages and to increase investment, then get the commitment if not, why give it?”
REPORTER: “What do you think the corporate rate should be?”
CUBAN: “I haven’t done all the math I don’t know I really don’t I mean, it truly is an algorithmic problem. I think you could run the math and figure it out.”
REPORTER: “Individual rate.”
CUBAN: “I don’t think we need to raise or change the top rate I wouldn’t mind if it was raised depending on the deductions. I would like to see it simplified I am a supporter of simplifying taxes because it shouldn’t cost more money to do your taxes than what you pay in taxes.”
REPORTER: “Should estate taxes exist? You have a big estate.”
CUBAN: “It should exist if we’re able to compensate for it, that’s a different issue but again, there’s a big pie and we can’t just depend on theory to grow that pie. We have to go and get commitments. Everybody who watches this show, they know how to use a spreadsheet, right tell us what you’re going to do with the money.”

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