Mark Cuban And The “Democratic” Romney

Dawn Sticklen, a new contributor in the comment section, sent this in several days ago:

Did any of you have an opportunity to read Mark Cuban’s post yesterday in HuffPost? I think you might find it both interesting and enlightening. He gives a very good comparison of business related practices in government situations. Here is the link:http://www.huffingtonpost.com/mark-cuban/romney-election-2012_b_2020584.html.

My response:

Dawn,

Wow! Thanks for turning me on to that “ironic” Mark Cuban piece.

I really loved his discussion of the benefit to businesses provided by ObamneyCare, in terms of the relative “certainty” related to health care costs and benefits it provides.

And his advice to a “Democratic” Mittens, that he should be touting his investment savvy in terms of what he could do with all that “DIRT CHEAP” money from China, especially investing it in “American companies,” was right on:

[DEMOCRATIC ROMNEY:] No one knows how to get a return on capital better than I do. I’m great at it. Look at my history…We need to invest in new technologies. We need to invest in research and development. We need to invest in new medicines and health care options. Now, some people might say that it will be very difficult to pick winners and losers and they are right. It will be very difficult. There will be losers. More importantly there will be winners. Winning investments will create jobs. Winning investments will create new technologies and medicines that improve the standard of living for all of us and does so at a lower cost. We won’t compete with private investment, we will complement it.

How commonsensical is that? It is precisely what President Obama has been saying for at least four years.

But my favorite part of the piece was this, which Cuban put in the mouth, again, of a Democratic Romney:

My Republican friends on the other hand, believe that if you reduce tax rates, large corporations hoarding cash will miraculously bring that cash back to the U.S. and invest and hire. Trust me. I know investment. That won’t do it. They can borrow money so cheaply there is no reason to bring it home and it certainly won’t lead to jobs. If they had something to invest in that would generate a return, they would. They haven’t.

Again, they won’t invest in America. I will.

As a long-time investor, I have never turned down an investment because of tax rates. I was just as successful investing when capital gains were much higher. I was just as successful investing when individual tax rates were much higher. No smart investor turns down a good deal because of tax rates. I always remind people you only pay taxes on profits. And if you make more than $1 million in profits, whether through capital gains or ordinary income, you should pay more taxes.

As I said, wow. Thanks for calling my attention to that excellent article.

Duane

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1 Comment

  1. Duane,
    I am so glad you enjoyed the Mark Cuban piece, and flattered that you should use our brief discussion as a blog post. But, I have to be honest, my favorite compliment was when you called one of my comments on another post “informative” and “rational”. Truly, if you and others find those adjectives accurate descriptions of my thoughts, well, then, in my opinion there is no greater honor. Thank you for that.

    Like

    Reply

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