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Wealth Tax Clash in California | Raleigh News
Mark Cuban and Rep. Ro Khanna clashed fiercely on X over California’s proposed 5% one-time billionaire wealth tax, with Cuban warning it could cripple startups by forcing founders to pay millions in taxes they can’t liquidate — especially when their fortune is tied up in illiquid stock. Khanna countered with a loan solution backed by company shares, but Cuban called it absurd, fearing the state would become a co-owner of private firms if defaults happen — and threatened to stop investing in California if the tax passes. The debate underscores a core tension: paper wealth vs. real cash, and…
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