MARK CUBAN: If Your Company Is Moving For Tax Reasons, I'm Selling Your Stock

[think]

MARK CUBAN: If Your Company Is Moving For Tax Reasons, I'm Selling Your Stock

By: MYLES UDLAND

Mark Cuban isn't a fan of tax inversions, either.
Last night, President Obama spoke with CNBC's Steve Liesman, and their first topic of conversation was the issue of tax inversions, or mergers where U.S.-based companies acquire foreign companies and move their tax base overseas to enjoy lower rates.

Obama said this strategy, among other things, "undermines people's confidence in how companies are thinking about their responsibilities to the country as a whole."

Cuban took his rhetoric a step further: he said he's selling stock in companies that move for tax reasons.

On Twitter this morning, Cuban fired off a series of tweets about how companies that move their tax base overseas to avoid paying taxes force existing taxpayers to make it up elsewhere...

Read more: http://www.businessinsider.com/mark-cuban-selling-tax-inverters-2014-7#ixzz38UD9nYb1

[msanthrope]

1. Good for him. nt

[leftyohiolib]

2. corporate welfare

[Romulox]

3. How is this any different from "free trade"?

Mark Cuban wasn't selling stock in companies when they outsourced the workers. Why is such a big deal to outsource the corporate HQ?

[abelenkpe]

4. While it would be nice if he and others would sell stock in companies that offshore

do we really want to discourage him from selling stock for offshoring HQ and avoiding taxes altogether? Maybe this is a beginning for some serious push back against offshoring and tax dodging in general?

[Romulox]

5. The magic of the markets is *supposed* to wreak this sort of "creative destruction".

That's what we've been told (by the Democratic Party elite, no less!) for 30 years now. The tax-base will recover--if it seeks the proper training to compete! in this competitive new world.

Doesn't seem like Mark is bothered by outsourcing at all--he just feels like it's coming to his circle of associates.

[abelenkpe]

7. Yeah true

Maybe it would be more entertaining to sit back and watch the process complete itself eating up the jobs of the managers and CEOs who had no problem offshoring my industry? I mean if they're really serious about lowering labor costs CEOs and managers have some pretty big salaries and benefits...

[closeupready]

6. Pleasantly surprised by this - on "Shark Tank," he HAS

invested in a few ideas that weren't pitched well, on the basis that he found the applicant appealing, or their story, etc. But overall, like others on the panel, he's usually all about his personal return on investment.

So for him to take an ethical stand indicates that 1) he has a conscience; and/or 2) populism is beginning to catch fire, and the Masters Of The Universe are exploiting it for good PR?

Who knows, anyway, I'm glad to read this story this morning, because I swear I will personally boycott them and patronize CVS or Costco instead if they do.

[awoke_in_2003]

11. He sometimes gets a bum wrap...

but he does appear to be a decent enough guy.

[kimbutgar]

8. I refuse to go into Walgreens now and instead go to CVS

I actually like Walgreens better but not anymore.

[ieoeja]

10. Walgreens has not moved. They were "thinking" about moving. n/t

[Gothmog]

9. Good for Cuban

[Cha]

12. K!