Staff Reports
On Tuesday, billionaire Mark Cuban criticized Democratic Senator Elizabeth Warren of Massachusetts for her ideas to raise taxes. Senator Warren is from Massachusetts.
Cuban made such remarks at the Code Conference that was hosted by Vox Media in Los Angeles. He was there to explore the role of women in politics and to offer his critique of the two-party system.
The businessman then turned his attention to Warren, adding that while he would be open to the idea of paying more in taxes, Warren's proposals go beyond what he would be prepared to do.
Cuban has stated that he does not mind paying higher taxes. "But, sure, the concept that all we have to do is say, 'Soak the rich, billionaire tears, let's sell that cup' — screw you, Elizabeth Warren"
Warren has proposed what he calls a "ultra-millionaire tax," which would impose a tax on the wealth of households in the United States that have a net worth of more than $50 million. A 2% annual tax would have been levied on households that had a net worth of between $50 million and $1 billion under the terms of the proposal that was presented in 2021. Those who have a net worth of more than one billion dollars would be subject to an additional surtax of one percent.
