Mark Cuban schools communist Ro Khanna on the – Latest News
Mark Cuban simply schooled California consultant Ro Khanna on why the “billionaire tax” is such a unhealthy thought.
It’s a well timed lesson as Google’s Eric Schmidt and Sergey Brin can’t appear to agree on how to make the case in opposition to the tax, also called Proposition 40.
In a revealing exchange on X, the billionaire “Shark Tank” tycoon identified that if tech entrepreneurs have handy over 5% of their wealth anytime their startup corporations go public, they’ll all depart California.
US businessman Mark Cuban speaks during a healthcare affordability occasion in the South Court Auditorium of The White House in Washington, DC, on Monday, May 18, 2026. (AFP) AFP by way of Getty Images
They gained’t simply depart to keep away from paying taxes. They will depart as a result of enterprise capital funds gained’t even invest of their corporations if they’re California residents.
Why would anybody invest in one thing that’s a assured 5% loss?
Khanna got here up with a plan that he thought was shiny: If entrepreneurs gained’t sell their corporations to pay the “billionaire tax,” the authorities can lend them the money to pay it.
Of course, they’d have handy the loan proper back to the authorities, and spend a number of many years paying off that loan, with curiosity.
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But after all — don’t billionaires borrow in opposition to their belongings all the time, to fund their life?
There’s a distinction between taking out a loan you possibly can repay, and being compelled to borrow money simply to pay taxes.
If these paper billionaires can’t make their funds, the authorities must seize their belongings.
The state would immediately own a bunch of unhealthy debt and failing corporations.
That’s a surefire strategy to tank the financial system. And it might kill California’s startup tradition.
United States Representative Ro Khanna (Democrat of California) on Monday, November 17, 2025. Ron Sachs – CNP for NY Post
Cuban slammed Khanna — who represents Silicon Valley — for becoming a member of the socialist mob.
“Ideology is not a strategy,” he stated.
It’s all hypocrisy from Khanna, one of the wealthiest members of Congress, with a internet price in the lots of of thousands and thousands.
He’s not volunteering 5% of his own wealth.
Khanna is posturing as the champion of the “working class,” forward of a run for president in 2028.
He is attempting to fill the left-wing lane Bernie Sanders occupied when he ran for the Democratic nomination in 2016 and 2020.
But Sanders has been a socialist his entire life. He’s additionally a hypocrite — shopping for a number of houses, flying non-public jets — however not less than voters knew what he stood for, theoretically.
Khanna postured as a pro-business progressive from Silicon Valley. Now he’s trashing the people he represents in a bid for energy.
Good on Mark Cuban for taking Ro Khanna down. More business leaders need to talk up in opposition to Proposition 40, particularly whereas infighting threatens to divide the opposition to it.
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