As President Donald Trump and congressional Republicans release details of their plan to overhaul the nation’s tax code, billionaire businessman Mark Cuban tossed out his own ideas for tax legislation.
Cuban, the owner of the NBA’s Dallas Mavericks and the star of ABC’s “Shark Tank,” provided Business Insider with the tenets of his tax reform proposal in an email exchange Thursday.
Cuban, who has teased a possible 2020 presidential run, said he is “not against” lowering the corporate tax rate “if the goal is to raise wages.” He added that he’d “take a page from the Grover Norquist playbook of asking for a pledge not to raise taxes,” referring to the anti-tax advocate and the president of the group Americans for Tax Reform.
“I would use technology to reach out and get a pledge from the top 5,000 profitable companies to increase wages of their hourly employees and lowest paid salaried workers by at least 10% and to not use any international funds that are repatriated for dividends or share buybacks,” he told Business Insider.
“Tax changes are typically proposed based on theory,” he continued. “I would remove the theory and first get a commitment from those big companies to help the administration achieve what is hopefully is their goal of raising wages for working families.”
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