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Mark Cuban schools communist Ro Khanna on the billionaire tax

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Mark Cuban just schooled California representative Ro Khanna on why the “billionaire tax” is such a bad idea.

It’s a timely lesson as Google’s Eric Schmidt and Sergey Brin can’t seem to agree on how to make the case against the tax, also known as Proposition 40.

In a revealing exchange on X, the billionaire “Shark Tank” tycoon pointed out that if tech entrepreneurs have to hand over 5% of their wealth anytime their startup companies go public, they will all leave California.

They won’t just leave to avoid paying taxes. They will leave because venture capital funds won’t even invest in their companies if they are California residents.

Why would anyone invest in something that is a guaranteed 5% loss?

Khanna came up with a plan that he thought was bright: If entrepreneurs won’t sell their companies to pay the “billionaire tax,” the government can lend them the money........

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