Market Overview

Mark Cuban Believes Warren Is Deliberately Misleading Public

Mark Cuban Believes Warren Is Deliberately Misleading Public

Mark Cuban on Saturday joined a growing list of billionaires to openly criticize democratic presidential candidate Elizabeth Warren’s tax policy and healthcare plan.

What Happened

In a series of tweets, the "Shark Tank" star said Warren’s policies are a way to divert the public’s attention from her own wealth.

The billionaire investor pointed out that Forbes puts Warren’s net worth at $12 million, which makes her a part of the top 1% income group in the country. “That’s being rich. Filthy rich,” he said.

“According to her filings she made [$900,000] last year which means her family earns more than [twice] the amount needed to be a [one percenter]. She paid 25.5% of that in taxes which is less than the [29.85%] I paid in taxes,” Cuban said in a tweet.

According to Cuban, there are “fundamental issues” in Warren’s medicare plans. 

“She needs quite a few things to pass Congress in order for any of it to work. Is it realistic to think any of it will pass let alone all of it?” he asked.

Cuban said the Massachusetts senator is probably the smartest candidate in this election, but she is deliberately misleading the public.

“She is selling shiny objects to divert attention from reality,” Cuban alleged. “Haven’t we had enough of that from [Donald Trump].”

'Calculator for Billionaires'

Warren published a “Calculator for the Billionaires” last week, where “the 1%” can count how much taxes they would pay under this policy. She claims she would use this money for education and healthcare.

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon reacted to Warren’s proposal in an interview with CBS’s 60 minutes on Sunday, saying that cutting back executive salary or increasing the taxes won’t help reduce income inequality.

Photo credit: Gage Skidmore, Wikimedia


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