{"id":2357458,"date":"2024-10-21T11:21:02","date_gmt":"2024-10-21T15:21:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mark-cubans-claim-harris-wont-raise-capital-gains-taxes-contradicts-her-campaign-washington-examiner\/"},"modified":"2024-10-21T11:23:11","modified_gmt":"2024-10-21T15:23:11","slug":"mark-cubans-claim-harris-wont-raise-capital-gains-taxes-contradicts-her-campaign-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mark-cubans-claim-harris-wont-raise-capital-gains-taxes-contradicts-her-campaign-washington-examiner\/","title":{"rendered":"Mark Cuban\u2019s claim Harris won\u2019t raise capital gains taxes contradicts her campaign &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmark-cubans-claim-harris-wont-raise-capital-gains-taxes-contradicts-her-campaign-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2357458&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Billionaire Mark Cuban has made headlines by asserting that Vice President Kamala Harris will not implement a tax on capital gains, despite her\u200d campaign&#8217;s proposals to increase such taxes. During \u200da <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-equality-act-is-the-greatest-threat-to-religious-freedom-in-our-lifetime-we-must-stand-against-it\/\" title=\"The \u2018Equality Act\u2019 Is The Greatest Threat To Religious Freedom In Our Lifetime. We Must Stand Against It.\">town hall meeting<\/a> in Arizona, Cuban, who is a supporter of Harris&#8217;s\u2063 presidential campaign, assured attendees that they would\u2063 not see a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-political-activism-and-influence-of-bill-gates\/\" title=\"The Political Activism And Influence of Bill Gates\">capital gains tax<\/a> \u200cif\u200b she were elected. In a subsequent appearance on\u2064 CNBC\u2019s &#8220;Squawk Box,&#8221; he reiterated these claims, stressing that the tax would not be implemented. <\/p>\n<p>However, \u200bCuban&#8217;s statements contradict Harris&#8217;s campaign promises made in September to raise the tax on unrealized gains for high-income earners\u2063 from 20% to 28%, which\u200c would significantly raise federal capital gains taxes\u2064 under\u200d her administration. This proposed increase aligns with \u200bher \u2062prior support for President Biden&#8217;s budget recommendation, suggesting that\u200c the\u200c capital gains tax could rise as high as 39.6% for top earners, \u2064thus making it \u200dthe highest rate in decades. <\/p>\n<p>The capital gains tax applies to profits from selling assets, with the current rate\u200b for the wealthiest Americans\u2064 at 20%, similar to\u200b China&#8217;s rate. Cuban\u2019s \u200cremarks have stirred debate, as he cautioned that if Harris were to pursue\u2062 a capital gains tax, he \u200cwould actively campaign against her.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Mark Cuban&rsquo;s claim Harris won&rsquo;t raise capital gains taxes contradicts her campaign<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1774174\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>Billionaire businessman <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/mark-cuban\/\" target=\"_blank\" rel=\"noopener\" title>Mark Cuban<\/a> slapped down concerns that Vice President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/kamala-harris\/\" target=\"_blank\" rel=\"noopener\" title>Kamala Harris<\/a> supports raising taxes on capital gains despite her campaign&rsquo;s plans to do so.&nbsp;<\/p>\n<div class=\"article-paywall\">\n<p>Cuban, a prominent surrogate for Harris&rsquo;s presidential campaign, promised a worried voter during an Arizona town hall meeting that &ldquo;you&rsquo;re not going to see a tax on capital gains&rdquo; if the vice president won the election. In a CNBC appearance on <em>Squawk Box <\/em>following his Arizona comments, Cuban reiterated his claims, which fly in the face of a tax proposal the Harris campaign released last month.<\/p>\n<p>&ldquo;So some people think that there&rsquo;s going to be an unrealized gains tax on capital gains,&rdquo; Cuban said in Phoenix over the weekend. &ldquo;There is not, there is not.&rdquo;<\/p>\n<p>&ldquo;If I&rsquo;m wrong, she&rsquo;s going to hate to hear that. I&rsquo;ll work so she doesn&rsquo;t get elected again. Because that&rsquo;s how wrong I think that is, but I already know it&rsquo;s not going to happen. So I just like to say that to sound dramatic,&rdquo; he continued.&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/mcuban?ref_src=twsrc%5Etfw\">@mcuban<\/a> said this weekend that <a href=\"https:\/\/twitter.com\/VP?ref_src=twsrc%5Etfw\">@VP<\/a> would not <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-slams-democrats-over-extreme-proposal-to-tax-unrealized-capital-gains\/\" title=\"Elon Musk Slams Democrats Over Extreme Proposal To Tax Unrealized Capital Gains\">tax unrealized capital gains<\/a>, and if she does, he would campaign against her. &#8220;I can pick out probably 10 things where you would say, yeah I&#8217;d campaign against her. So what do you like?&#8221; about Harris, asks <a href=\"https:\/\/twitter.com\/JoeSquawk?ref_src=twsrc%5Etfw\">@JoeSquawk<\/a>: <a href=\"https:\/\/t.co\/VCv5p2pvcd\">pic.twitter.com\/VCv5p2pvcd<\/a><\/p>\n<p>&mdash; Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1848347909462360420?ref_src=twsrc%5Etfw\">October 21, 2024<\/a><\/p><\/blockquote>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/p>\n<p>However, Cuban&rsquo;s words directly contradicted the Harris campaign&rsquo;s announcement in early September that pledged to <a href=\"https:\/\/www.washingtonexaminer.com\/premium\/3151607\/wb-busines-hed-harris-capital-gains-plan-differs-from-biden-investment-income-proposal-subhed-the-vice-presidents-white-house-campaign-is-calling-for-a-billionaire-minimum-tax\/\" target=\"_blank\" rel=\"noopener\" title>raise the tax<\/a> on unrealized gains for top-income earners from 20% to 28%. Combined with another proposal to raise the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-want-to-hit-americans-with-2-9-trillion-more-in-taxes\/\" title=\"Dems Want To Hit Americans With .9 Trillion More In Taxes\">net investment income tax<\/a> to 5%, the total federal capital gains tax rate would sit at 33% during a hypothetical Harris administration, the highest in decades.<\/p>\n<p>Harris&rsquo;s 33% capital gains proposal follows her previous support for President Joe Biden&rsquo;s fiscal 2025 budget, which called for <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2024\/03\/budget_fy2025.pdf\" target=\"_blank\" rel=\"noopener\" title>39.6% long-term capital gains taxes<\/a> for top-income earners.&nbsp;<\/p>\n<p>The capital gains tax is a tax on the profits people make from selling an asset. It currently stands at 20% for the highest earners in the United States, the same as China&rsquo;s rate.&nbsp;<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Mark Cuban speaks at a campaign rally for Vice President Kamala Harris, Democratic presidential nominee, at the University of Wisconsin-La Crosse, in La Crosse, Wisconsin, Thursday, Oct. 17, 2024. (AP Photo\/Abbie Parr)<\/figcaption><\/figure>\n<p>Former President Donald Trump called Harris&rsquo;s capital gains proposal reminiscent of &ldquo;communism&ldquo; during a rally in Pennsylvania on Saturday.&nbsp;<\/p>\n<p>&ldquo;You sell something, you pay the tax. &hellip; She wants an unrealized [capital gains tax], and she refuses to say that &lsquo;no, we&rsquo;re not going to do that.&rsquo; She refuses,&rdquo; Trump warned. <\/p>\n<p>&ldquo;It&rsquo;ll be a great business for appraisers and for lawyers and for accountants. Other than that, it&rsquo;s a disaster,&rdquo;&nbsp;he added.<\/p>\n<p>However, as he campaigns for Harris with the group &ldquo;Business Leaders for Harris,&rdquo; Cuban has been steadfast in rebutting concerns about her capital proposals.&nbsp;<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><\/strong><\/a><\/p>\n<p>In September, the same month Harris unveiled her plans to increase the taxation of unrealized gains, Cuban told CNBC, &ldquo;Every conversation I&rsquo;ve had [with Harris campaign] is that it&rsquo;s not going to happen.&rdquo;<\/p>\n<p>The <em>Washington Examiner<\/em> reached out to the Harris campaign for comment but did not receive a reply at the time of publishing. &nbsp;<\/p>\n<\/div>\n<p> <script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1774174\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1774174\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mark Cuban&#8217;s assertion that Harris won&#8217;t increase capital gains taxes contradicts her campaign plans<\/p>\n","protected":false},"author":3142,"featured_media":2357459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/MC.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[43428,33925,32438,37388],"class_list":["post-2357458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-campaign-contradiction","tag-capital-gains-taxes","tag-kamala-harris","tag-mark-cuban"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/10\/MC.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2357458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3142"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2357458"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2357458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2357459"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2357458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2357458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2357458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}