Billionaire Mark Cuban Takes Surprise Stance on Controversial New Tax
No subject is more controversial in economic circles right now than taxes.
Tensions heighten even more when the specific subject is a new tax aimed at businesses.
Nothing unexpected, then, at that point, that last week, when the U.S.
Senate consented to a 1% duty on share buybacks as an approach to
mostly fund President Joe Biden's environment and medical care charge,
the proposed measure incited a ton of discussion.
Opinion on the benefits and disadvantages of buybacks is sharply split.
Enter Mark Cuban, one of the most listened-to and admired entrepreneurs.
The "Shark Tank" star has never made a secret of his aversion to share buybacks.
He says buybacks "are not good for most employees of the companies that do" them.