Billionaire entrepreneur and Shark Tank star Mark Cuban recently took to social media to weigh in on a flurry of tweets about Vice President Kamala Harris’ economic proposals. Responding to a flurry of comments and criticism, Cuban attempted to clarify what Harris was actually saying, particularly on the issue of price controls, which has been a hot topic since her recent speech.
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One of the key points Cuban made was in response to claims that Harris was pushing for price caps or controls on essential goods. The idea seemed to have gained traction, but Cuban was quick to debunk the idea. In a tweet, he asked: “Are you saying that all 37 states, including Texas, that have predatory pricing laws are using them for price caps?” He stressed: “There's nothing she said that addresses price caps or price controls. A lot of people assumed she would do that. She didn't.”
From the transcript of her speech
“My plan includes new PENALTIES for opportunistic companies that exploit CRISES AND break the rules.
And we will support smaller food companies that are trying to play by the rules and move forward.”
Nothing about price controls or…
— Mark Cuban (@mcuban) August 18, 2024
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Cuban even referenced the transcript of Harris' speech to support his position that there were no price caps or controls in this statement, comparing it to existing anti-price gouging laws in 37 states.
Cuban also addressed broader concerns about Harris' ability to deliver on her promises, particularly given her role as vice president. Responding to criticism that Harris has spent nearly four years in office addressing problems like inflation, Cuban drew parallels with former Vice President Mike Pence. He argued that just as Pence was not responsible for major policy failures like not completing the border wall or overhauling health care, Harris is also limited in what she can accomplish independently.
How Your Man Plans to Beat Inflation
“On my first day back in the Oval Office, I will sign an executive order directing every Cabinet secretary and agency head to use all available tools and authorities to combat inflation and bring consumer prices down rapidly,” Trump said… https://t.co/BMgMLM1DNA— Mark Cuban (@mcuban) August 18, 2024
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He also compared Harris's approach to inflation to that of former President Donald Trump, sharing a quote from Trump in which Trump promised to tackle inflation through executive orders and swift action by government agencies. Cuban criticized this as vague and lacking in substance, noting that Harris has only been a candidate for four weeks, while Trump has had much longer to refine his plans.
While Mark Cuban is backing Kamala Harris’ economic plans and clearing up misconceptions about price caps, it’s worth noting that not everyone is on board. Some argue that Harris, because she’s part of the current administration, bears some of the blame for the high inflation we’re seeing. They also worry that her focus on punishing businesses for profiteering doesn’t address the larger issues behind rising prices.
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This article Mark Cuban responds to Kamala Harris' economic plan with dozens of tweets, says she made no mention of price caps or price controls originally appeared on Benzinga.com
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