• 20 Aug 2009 at 4:39 PM

Move Over Lou Gerstner

By Greg Michaels

mark_cuban.jpgForget Congress or any other official in government. When it comes to a truly frightening force with an axe to grind with short-term traders, look no further than Mark Cuban. Fresh off the SEC putting their house in order to possibly take another crack at proving its insider trading case again him, the man who has been fined around $1.5 million by the NBA for persistently screaming that he is right and those who have the authority for policing the game are wrong, has a new target.

“Our government doesn’t know the difference between an investor and a speculator or trader. If we did, we would understand that we should tax the trader/speculator more heavily than the investor…The government should raises taxes significantly on profits from short term capital gains on the sale of public stocks, indexes, commodities, futures held for 24 hours or less and extend the length of time required to qualify for long term capital gains and reduce the tax rate on long term gains.”

This coming from somebody who doesn’t know the difference between being an owner and being a coach/ref/teammate/mascot- sounds about right.
Let’s drain profits from traders, Mark Cuban says [LA Times]
Earlier: The Proposal To Bring Back Buy-And-Hold

Comments (12)

  1. 1
    Posted by guest | August 20, 2009 at 4:42 PM

    blar, blar, blar
    All Amanda Drury all the time.

  2. 2
    Posted by guest | August 20, 2009 at 4:45 PM

    Greg – can’t you just choke on a chicken wing at happy hour tonight? That would make tomorrow a very happy day for everyone here at dealbreaker.

  3. 3
    Posted by guest | August 20, 2009 at 4:46 PM

    Greg – can’t you just choke on a chicken wing at happy hour tonight and die? That would make tomorrow a very happy day for everyone here at dealbreaker.

  4. 4
    Posted by guest | August 20, 2009 at 4:49 PM

    Genius @2/3 – STFU.
    It was a perfectly fine piece.

  5. 5
    Posted by guest | August 20, 2009 at 5:14 PM

    Who?!?!
    –Ben Bernasky

  6. 6
    Posted by guest | August 20, 2009 at 5:23 PM

    @2/3, vous êtes rètard.
    The anti-Greg nonsense is getting tiresome, doubly so when posted twice.
    As for Cuban, I’m very glad he wasn’t able to buy the Cubs from Zell
    /non-Cubs fan

  7. 7
    Posted by guest | August 20, 2009 at 5:49 PM

    Cuban is right
    - Mavs fan

  8. 8
    Posted by guest | August 20, 2009 at 6:25 PM

    the Mavs were indeed robbed in the Finals versus the Heat. if an air current happened to brush against Dwayne Wade in the backcourt it was a shooting foul.
    Cuban is also correct about taxes on trading gains. we have enough freaking liquidity in the market.

  9. 9
    Posted by guest | August 20, 2009 at 6:28 PM

    If only we taxed short and long term capital gains differently…

  10. 10
    Posted by guest | August 21, 2009 at 8:49 AM

    Why does Cuban have an axe to grind with short-term traders?

  11. 11
    Posted by guest | August 21, 2009 at 8:57 AM

    @8
    Please read 9′s comment and think for a second about the way things are right now.
    Also, Antoine Walker a washout flabby 4-man outscored and outrebounded their entire team in the 3rd quarter of the final game. FAIL!!!!! The mavs fell in love with the perimeter shot and lost that series because they are and always will be whiners under Cuban’s ownership.

  12. 12
    Posted by guest | August 21, 2009 at 10:02 AM

    You kiddin’ me? If I was a billionaire, I’d spend my time blowin’ rails off the tits of mexican sharks.

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