Billionaire investor Mark Cuban suggested in multiple tweets over the weekend that 2020 presidential candidate Elizabeth Warren’s proposed wealth tax “diverts attention from reality” and is designed to hide her own wealth from the public.
Warren’s wealth tax, calls for a 2% tax on every dollar a household has above $50 million, which would increase to a 6% tax for households with assets of more than $1 billion. That money would be used to pay for a variety of her policy proposals, including her disastrous “Medicare for All” plan.
Mark Cuban, who owns the Dallas Mavericks, pointed out Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America.
Almost every Democratic challenger in the 2020 presidential race is a millionaire, with only Julian Castro, Tulsi Gabbard, and Pete Buttigieg with net worths below $1 million. Excluding Steyer and President Donald Trump’s net worth, Warren’s net worth is just below the average of $12.9 million, according to Forbes.