Re:Wealth tax would force business liquidation to foreign money
by quickthrower2 on Monday November 25, 2019 @07:32PM
(#21634471)
Rich people can get a line of credit secured on their assets. He’s probably bullshitting.
Re:Wealth tax would force business liquidation to foreign money
by drewrv on Monday November 25, 2019 @06:47PM
(#21634201)
Cuban is straight up lying about how he might need to sell his basketball team. Or he's lying about how much stock he owns. Either way he lacks credibility.
https://www.cnbc.com/2019/09/30/mark-cuban-i-have-close-to-a...
Re:Wealth tax would force business liquidation to foreign money
by liamcardenas on Monday November 25, 2019 @07:32PM
(#21634475)
Fair. In my source, he seemed to imply he would have to sell it — but didn’t actually say so explicitly. He definitively stated he would have to liquidate assets, generally speaking, after a year.
He may have stated the need to sell his team elsewhere. I seem to remember reading that but it was possible I was jumping to conclusions.
That said, I think it’s entirely reasonable to believe him when he claims not to have enough cash to pay the tax.
Again, I find it weird how some people think about this subject. Everyone is so intent on accusing billionaires of being liars.
Re:Wealth tax would force business liquidation to foreign money
by rjkennedy98 on Monday November 25, 2019 @06:26PM
(#21634022)
Why on earth would you believe billionaires at their word on a wealth tax. Keep in mind a good number of these billionaires have publicly stated they are close to as prosecuted as the Jews in Germany. I wouldn’t trust them an inch.
It’s interesting how often people say stuff like this. I don’t mean to presume anything about your knowledge of the habits of the ultra-wealthy— but how do you know this?
Mark Cuban, for instance, claims he would need to liquidate assets, including potentially his basketball team [1]. I agree it might not cause a crash, but certain billionaire-dominated industries, such as sports teams, might become increasingly foreign-owned.
[1] https://youtu.be/rCd2vWsWWrI start watching at 4:50