Honestly, Mark Cuban seems like kind of a cool guy, for a billionaire. I'm sure he's done nasty shit, it's basically inevitable that even the most morally and ethically conscious person would have to do something bad in order to become a billionaire; however he doesn't come off as being sociopathically greedy like Musk or Bezos.
this post was submitted on 16 Apr 2024
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Cuban made costplusdrugs.com 😃
sad as it is to say, he's probably the most moral/ethical of the bunch atm
Oh yeah! I forgot about that. Definitely adds to the belief that he's probably not a terrible guy irl.
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He's the one Shark who is almost a decent person. IIRC, he's the one who ended the policy that people presenting on the show had to give up part of their company no matter if they had an accepted deal or not. He made the very good point that anyone halfway decent at business would be very hesitant to take that offer, and they were losing out on good possibilities because of it.
Still, fuck him. You can't be a billionaire without doing shady shit somewhere.
I really dislike how much he espouses hustle culture. Like, it's crazy to applaud children who are spending every free minute they have on a business idea as if that has no negative impacts on their childhood if they aren't failing school. Or that he won't buy in if the business owner has a day job because entrepreneurs should only be successful if they gamble all of their savings apparently.
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Indeed.
And an often overlooked downside of all the tax loopholes is that asshole billionaires don't pay tax, so they have a competitive advantage against someone like Mark Cuban.
Basically, with billionaires we are evolving them to become nastier with each generation.
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https://www.espn.com/nba/story/_/id/33527472/ex-gm-donnie-nelson-sues-dallas-mavericks-says-was-fired-reporting-sexual-misconduct-team-denies-claim this would be the one knock against Mark Cuban, kind of soured me to him, but I think he tries to be a good guy.
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Ah it‘s uplifting news that a billionaire pays the taxes he legally owes? Fuck this. Eat the rich.
I mean, I kind of like the fact that he's flexing paying his taxes to other billionaires, signaling that he's better than them for doing so. It would be kind of nice if every billionaire started flexing on one another like this and started trying to one up one another to showcase "whose the better person" sort of thing. Pipe dream, I know, but a girl CAN dream after all.
It's a nice dream, but I prefer my dream of IRS agents blasting open a mansion door with C4 and arresting the billionaire who pays less tax than me. Oh and while civil asset forfeiture is a thing, they can do that too. Charge the mansion with a crime and turn it into affordable housing.
I think one of the ways we can get this to happen more often is by celebrating these wins. That's sorta a way to get good things to continue happening. It's someone making the correct moral choice. Let's support that while continuing to demonize the bullshit the other billionaires do.
Yes, it is. $275m is a lot more than I’ll ever be able to contribute to society
That's because you haven't extracted 95 times that first.
I guarantee you - even if you haven't paid a single penny in tax your entire life, by virtue of not being a billionaire, you have contributed significantly more to society than this leech ever has or will.
It's scary how good a job the billionaires have done in convincing you (and many many others) it's somehow the other way around.
Let's imagine a village a few thousand years ago, at harvest time. There's one guy who's physically much bigger than the others, didn't do any work for the crop, and stands there with a sword to steal 80% of everything everyone else has harvested.
Then a day later he holds a gathering where he gives back 10% of what he stole and people cheer him for being charitable, because in the other villages the people who steal the grain don't give any back at all.
Crazy.
There's practically no other issues on Earth than ones caused by greedy rich people. We have the resources and technology to end world hunger and do other such things, but they aren't being done because there's no immediate profit to be extracted from it. Even though on a global, socioeconomic level, it would have massive effects, which would actually translate to better markets and profits even for capitalists, but they just need to get immediate profit, the blind ignorant fucks.
It's scary how good a job the billionaires have done in convincing you (and many many others) it's somehow the other way around.
Its honestly the one of the great psyops of history.
$275m is money he took from other people's excess production.
He didn't make that money: he stole it and got lucky.
He didn't contribute that, workers did.
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It kimda is uplifting. Which really tells how low the bar is
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I too, would be happy to have a $275 mil tax bill.
Is "billionaire" Trump going to brag about his large tax bill too? Oh, he's not?
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Shame the other greedy fucks cant do it
Apparently his net worth is 5.4 billion, so this'd be something like 4% of what he's worth?
I'd say it's something at least, IIRC the current proposed wealth tax is 2%
Net worth taxes are stupid.
Just tax loans collateralized by stock as income, and give a deduction on the interest when they pay back the loan.
That’s currently the biggest loophole the wealthy use. They use their stock portfolios as collateral for loans, which are untaxed. Then as their portfolio grows they take out more loans to cover the old one and fund their lifestyle, or they liquidate some of their assets at the much lower capital gains tax to pay it back.
Just tax collateralized loans as realized gains and be done with it.
Without a wealth tax, he could quit today, stop all the loan nonsense and just put it in conservative index funds, and his blood line would be set for generations, even if they bred like rabbits and split it 500 different ways.
Just tax collateralized loans as realized gains and be done with it.
This means loan interest rates and fees will shoot up, which will hurt more than just the mega rich.
Maybe any loan secured with over $x in collateral triggers taxes? Or carve out mortgages and auto loans?
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He realizes we'll make money worthless if they keep this shit up for too much longer.
That's about 2 F-35s
Based
I'm sure he still pays less than he should
That's 20% of his listed net worth. On an annualized basis I'd say it's pretty fair.
His networth is 5.4 billion. 20% of that is a bit over a billion.... So not really.
I think you divided 5.4 billion by $275 million. Saw that it came out to almost 20. That means it's about 5%. Easy mistake to make. I do it all the time.
Ahh yeah you're right.
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according to forbes, his net worth is about 5.4 billion. 276 million is about 4% of his net worth paid in tax. I just checked what I payed in taxes vs my net worth. I paid about 11% of my net worth(not income) in taxes this last year. Damn that sucks looking at the numbers lol. At least he's almost halfway towards getting there and happy to pay. I'm curious what it looks like for others. I'm in my 30s for reference in high cost of living location.
Net worth, in the general sense anyway, doesn't get taxed. This is one of the ways billionaires can pay so little taxes. Outside of things like property tax, you don't pay tax on something like a house.
If we are talking straight net worth and not income, then I paid ~10% in federal taxes last year. But again that's not really a fair comparison as we aren't taxed on net worth but income.
The tax system is fucked and needs a serious overhaul.
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Tax him even more.
"Obscenely rich proud for poor people to celebrate him for doing less than the bare minimum"
Other obscenely rich people doing less, doesn't make this shit uplifting nor worth praise, it still is literally less than the bare minimum. Fuck this noise.
Hey, don't let good be the enemy of better. A billionaire advertising taxes like a good thing is better than anything I've ever seen Elon musk do.
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How is he doing "less than the bare minimum?"
Not OP, but I think he (along with other billionaire's) got rich off of tax breaks and subsidies that were tax funded. No person can earn his kind of wealth on their own and without some sort of exploitation, usually of poor people. Paying ~4% is understandably less than bare minimum.
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