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Billionaire Mark Cuban Calls Wealth Tax Loan Proposal 'Insane'
News August 17, 2026 at 09:44 AM
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What You Need To Know
- Rep. Ro Khanna, D-Calif., supports a proposed one-time 5% tax on billionaires’ wealth that’s on the ballot in California this November.
- He suggested that the government could lend money to help billionaires with large paper fortunes pay the tax.
- “What’s the point of that?” Cuban said, adding that “only idiot startup founders stay in Cali” if the tax passes.
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