In a quick talk about the future of the tax code, billionaire Mark Cuban explains that he thinks Donald Trump — a “salesperson in the White House” — should be calling all the Fortune 500 CEOs like Bob Iger (Disney), “not to pick on Bob,” and asking what they’re going to do with the money from the proposed corporate tax cuts. If the CEOs are really going to use a cut to increase worker wages and push other middle-class help, then they should commit to doing it, Cuban suggests. “We live in an interactive world where you can go out and ask the CEO of a company: if I reduce your corporate tax rate (actual rate) to 20 percent, what are you going to do with the money?”
Melissa Lee of CNBC makes a good point in light of Cuban’s suggestion. That doesn’t seem enforceable over time, Lee says, about calling every CEO on the phone for a commitment. Cuban’s reply is interesting: “It doesn’t have to be enforceable, Melissa,” he says. “In this day and age of media, if I’m a telemarketer making $12 an hour and my CEO makes a commitment to increase my wages because he’s gonna get a corporate tax cut and then he doesn’t do it, that CEO’s got problems.”
‘@mcuban and @MelissaLeeCNBC go head to head on what tax reform means for the market. who do you think is right? pic.twitter.com/zNuegMTOLz
— CNBC’s Fast Money (@CNBCFastMoney) October 3, 2017
