Reported about 9 hours ago
Mark Cuban argues that abolishing billionaires could trigger a stock market crash, wiping out average Americans' savings. In a recent BlueSky post, he contended that wealth inequality cannot be solved simply by taxing billionaires, as their existence is tied to the stock market's health. He warned that forcing the wealthiest to sell off their assets would drastically diminish ownership values for the majority, negatively impacting the economy and individual savings. Nonetheless, Cuban supports a 'windfall tax' on those earning over a billion dollars annually, while advocating for fairer capital distribution in companies.
Source: YAHOO