Billionaire Mark Cuban says eliminating billions would mean destroying the stock market and wiping out America’s savings
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Mark Cuban said the billions will be there as long as the stock market performs.
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Billineire said that forcing the wealthy to sell their stocks would “displace” American savings.
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He said tampering bills will not correct the inequality and called for finding ways to help others get more.
Mark Cuban says the only way to eliminate billions would be to destroy the stock market – and doing so would wipe out the savings of ordinary Americans.
In a thread posted on Bluesky on Thursday night, the billionaire investor and the Billionaire “Users” who are the most active Users are opposed Users who oppose the one who is not in harmony with AIDS can be solved by taxes or caplioiares’ bitcoin wealth.
Cuba – His $6 billion fortune from Tech Starts, investing, and being the owner of the Dallas Maverick makes him one of the richest people in the world – he said that excessive wealth is a distortion of the market system.
“Billiards will exist as long as stock markets exist,” he wrote. “Should we get rid of the stock market?”
When one user said they would like to see the market go if it meant stopping “disgusting examples of excessive wealth,” Cuba responded: “What are they supposed to do with the money?”
He warned that dismantling the market could have disastrous consequences for everyone, not just the rich.
Cuba was responding to another user who said that almost 90% of the stock market is owned by 10% of American households showing that the Federal Reserve Fasting shows that 10% of the entire market.
He agreed with the figure but argued that forcing those investors to sell would hurt everyone, not just the wealthy.
He wrote: “It’s very true. “But that 90 percent is billions and trillions of dollars, owned by everyone. If you make 10 pct of 100 of the market, will you erase the ownership of the 90 percent that goes?”
While Cuban points out that the billions are a necessary thing for the booming stock markets that benefit Oxfam and the World Bank, he says that the destruction of the rich is driven mainly by inheritance, royal power, and extreme inequality.
Cuba also pointed out that even if the government seized all the dollars held by the billions, it would not significantly improve public finances.
“You can take every penny that every billionaire has, and without making a lot of people here feel better, it wouldn’t pay the interest on the Federal Deficit or the Other [healthcare]”he said.
