Mark Cuban on Romney tax plan

Discussion in 'Politics & Religion' started by DirkDigler, Oct 12, 2012.

  1. After watching interviews of Governor Romney and the debates, both Presidential and VP, I’m starting to fully get my arms around how Governor Romney works and the details of his tax plan.

    Governor Romney is a successful financier. He is an amazing deal maker. When he has control of a situation, he knows exactly how to get things done. He knows exactly what he wants to do and he knows exactly the process he needs to take to get there. He is incredibly confident in his ability.

    I see some of me in him. When it comes to my companies, I know what i want to do and I have complete confidence that I will get to where i need to go. I might not always get there, but I tend to only get into businesses and battles where I am extremely confident I can come out ahead. My failures have never stopped me from having absolute confidence in how I approach business. I have the feeling that Governor Romney has this trait to a far greater degree than even I do. No failure will ever slow down Governor Romney’s confidence.

    That confidence is exactly the foundation of his tax plan. This is how I see his plan:
    • He will work to create bipartisan agreement to reduce federal spending as a share of GDP to 20 percent – its pre-crisis average – by 2016.
    • He will work to create bipartisan agreement to simplify the Tax Code
    • He will work to create bipartisan agreement to Reform Entitlement Programs To Ensure Their Viability
    • He will make Growth And Cost-Benefit Analysis Important Features Of Regulation.
    • He will work to remove regulatory impediments to energy production and innovation that raise costs to consumers and limit job creation.
    • That the rich will continue to pay the same share of taxes as they pay now.
    • He believes that income and corporate tax cuts across the board will increase economic growth which will offset the impact of any tax cuts that he is able create in a revenue neutral manner
    • He intends to first negotiate a bipartisan agreement to eliminate corporate and individual deductions other than mortgage interest deductions, health care deductions and several other tax deductions that he feels are important to the middle class
    • Once he has negotiated a bipartisan agreement to eliminate corporate and individual deductions he will be able to access the impact on revenues and determine what tax cuts that can be reasonably made. His goal and hope is that those tax cuts will be 20pct across the board for individuals and to 25pct for corporations. But he has been clear that it is not absolutely certain that these will be the exact numbers.
    If I spent enough time I bet I could create an algorithm that covered all the above, but that is far more work than I am willing to do. More importantly each variable in the algorithm would have to have such a large range of possible outcomes, solving the algorithm wouldn’t create much value. It is this fact that make people believe that Governor Romney has not provided details for his tax plan.

    Well I’m going to fill in those details in a second. But first I want to provide a little more detail on my perception of Governor Romney. As I said at the beginning of this post Governor Romney is a deal maker who has extreme confidence in his ability to get his deals done.

    Agree or not, I am certain that Governor Romney firmly believes the following – at Bain he created a company that was built on his ability alone to close deals to buy or invest in companies. He knew that he took people’s money and he was relentless in getting profitable deals done to make them money. He was hired to fix the Olympics. and he did. He was hired to fix the state of Massachusetts and he feels certain that he did. Add all this together and I believe that Governor Romney firmly believes that he is as good a negotiator and dealmaker as there is.

    If you put a problem in front of him, he knows in his mind that given enough time, resources and control he can solve the problem.

    more here:
  2. More bad news for Obama, I have seen Cuban on Bill Maher's show lots of times, and he has been an adamant supporter of Obama over the years, looks like he finally woke up.
  3. Which state is he a Governor of?
  4. I understand that me=Mark, and him= Mittens.

    Is it proper to make such statements on TV?
  5. Imo, what we have here from Mark Cuban is a vote of confidence. This is really the basis of what this country needs to get business motivated. Confidence.
  6. Ricter


    So right now businesses are turning down sales because they lack "confidence"?
  7. No.

    You can buy something and feel good about it or you can buy something and feel "ho hum" You need the salesman to tell you that you have just made the best purchase desicion in your entire life.
  8. Ricter


    The reluctant salesman in your fairy tale should put on his power tie.
  9. Businesses wont expand because it has become incredibly tough to find capital to expand. Capital will go to work when there is enough confidence/incentive to go to work.

    The reason people wont lend to startups is because they have zero faith in the economy.

    If im a bank i want to make sure im as liquid as possible given the fact that every country in the world is teetering on the verge of bankruptcy. Until the system cleans itself out, this is what we have to look foreword too.
  10. Ricter


    LOL, false. If a small business has a sound plan, credit will knock down its doors. And big business has never had more capital.
    #10     Oct 12, 2012