Billionaire entrepreneur Mark Cuban has recently defended Vice President Kamala Harris’s campaign strategy on X, drawing comparisons to Donald Trump’s 2016 campaign.
Cuban’s defense comes in the context of Harris’s proposed tax plan, which targets unrealized gains of Americans with wealth over $100 million. This plan aims to raise $5 trillion over a decade but has drawn opposition from Silicon Valley investors who argue it would stifle innovation and harm startups.
In response to a user urging him to have Harris speak directly to the people, Cuban highlighted Harris’s efforts to connect with voters through city-to-city rallies. He further explained his perspective on Harris’s tax plan, stating that he advised her campaign against taxing unrealized capital gains as it could potentially “kill the stock market” and turn into “the ultimate employment plan for private equity.” He emphasized that companies would be less likely to go public, citing his own experience during the “internet days” when he was cash-poor but equity-rich.
Cuban asserted that Harris’s campaign understands this issue and that her “value proposition” is about ensuring fair taxation for everyone. He then engaged in a back-and-forth with interviewers, arguing that Harris’s campaign strategy is similar to Trump’s in that they both prioritize direct communication with voters over traditional media interviews. He noted that Trump “talks gibberish and never directly answers a question,” making interviews with him largely meaningless.
Cuban’s defense of Harris comes amidst a series of interactions he’s had on X regarding the Vice President. He previously asked his followers to choose between Harris and Trump as role models for children and engaged in a flurry of tweets about Harris’s economic proposals.
Harris’s proposed tax plan, which includes a 28% tax on long-term capital gains for households earning $1 million or more and a $50,000 tax deduction for startup expenses, reflects a shift in her economic approach ahead of the 2024 election. The plan aims to address inequality in the current tax system while also supporting small businesses.
While facing opposition from some donors, the tax plan has garnered support from those who believe it addresses the issue of income inequality in the United States. Cuban’s defense of Harris, while drawing parallels to Trump’s campaign strategy, suggests a larger conversation around the role of wealth and taxation in the upcoming election.
