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'But when Mark Cuban says "reduce small business taxes to fix the economy", I think he's wrong.' He did not say that. He called for a simplification of the ta

• timr 17y ago
  You have to be able to read between the lines. "Dramatically streamline the tax code" is classic political double-speak for "flat tax", which means the elimination of most forms of taxation on US corporations. Much of the "complexity" of US tax code is part of the long legislative history of closing tax loopholes that large businesses have successfully exploited to escape taxation in the past. But even if you don't take my word on this, he actually does call for tax cuts in the post: "Make capital gains on investments up to $1mm in small companies tax free" This has nothing to do with "streamlining" the tax code. Cuban wants the ability to invest in hedge funds and other "small businesses" without paying capital gains tax on the profits, and he's framing it as a way of "encouraging investment" in the mom and pop store down the street (who will never, ever be assisted by this kind of a policy change). In reality, Cuban is proposing yet another loophole that would be used primarily by rich people and large corporations to escape taxation.