Mark Cuban Opposes Tax Plan Endorsed by VP Harris in Arizona Campaign Event
ICARO Media Group
### Mark Cuban Voices Concerns Over Tax Plan in Campaign Event for VP Harris
During a campaign event in Phoenix, billionaire entrepreneur Mark Cuban expressed reservations about Vice President Kamala Harris' endorsement of a tax plan that includes taxing wealthy individuals' unrealized gains. Addressing local Arizona entrepreneurs as a surrogate for the Harris-Walz campaign, Cuban assured attendees that Harris would not implement such a tax, despite endorsing President Joe Biden's fiscal year 2025 budget proposal, which includes it.
At the town hall event, an attendee questioned Cuban about unrealized gains. Cuban reassured the crowd, declaring, "Some people think that there's going to be an unrealized gains tax on capital gains. There is not." This came after Harris had endorsed Biden's plan that proposes a 25% minimum tax on total income exceeding $100 million, including unrealized gains.
Cuban emphasized, "When I saw that, I went ballistic because that's an economy killer. Kamala knows that." He noted that Harris hasn't specifically addressed taxing unrealized gains, even though her campaign broadly supports Biden's budget. Former President Donald Trump has criticized this idea, calling it "communism" during a recent campaign event in Pennsylvania.
NBC News reached out to the Harris-Walz campaign for further clarification on the Vice President’s stance, but the campaign declined to comment. Back in Arizona, Cuban stressed, "You're not going to see a tax on capital gains." He even joked that if such a tax were implemented, he would campaign against Harris, though he remained confident it wouldn't happen.
This isn’t the first time Cuban has spoken out against the taxation of unrealized gains. In a prior appearance on CNBC's "Squawk Box," he voiced similar assurances. Though Cuban clarified that he does not officially speak for Harris or the campaign, his role as a campaign surrogate has attracted significant attention.
In an interview with NBC News, Harris highlighted her loyalty to President Biden and avoided critiquing his policies, reinforcing the traditional role of a vice president. Cuban, however, did not shy away from voicing his opinions, even critiquing the Biden-Harris administration's immigration policies during the Phoenix event.
The Harris-Walz campaign has also deployed actor Bryan Cranston to campaign in Arizona. Cranston, known for his role in "Breaking Bad," underscored the importance of voting, deviating momentarily from the campaign's typical talking points.