On Friday, billionaire entrepreneur Mark Cuban highlighted the division in tax policies between Vice President Kamala Harris and President Joe Biden.
What Happened: Cuban took to X, formerly Twitter, and said, “Fun fact, 98 percent of startups will receive a reduction in their effective tax rate under Kamala Harris’s tax plan.”
When a user counter-attacked, saying Harris stated that she would not have handled things any differently than Biden, Cuban said, “Yet her tax rates and fracking stance are definitely different.”
He went on to add that perhaps Harris believes it’s not appropriate to publicly criticize her current boss, the President.
See Also: Maybe Musk Missed The Memo: Trump’s Plan To Ban Autonomous Vehicles Could Sour Friendship
Why It Matters: Harris’s tax policies diverge significantly from Biden’s. For example, she proposed a capital gains tax rate of 28% for individuals earning over $1 million, which is lower than Biden’s proposed 39.6%.
While both Harris and Biden agree on raising the corporate tax rate to 28%, Harris’s approach is more centrist, targeting middle-class voters and businesses.
She also pledged not to increase taxes on households earning less than $400,000, a promise that covers approximately 98% of the population.
Harris’s stance on fracking, a charged issue in the presidential race, also sets her apart from Biden.
The 2024 Democratic presidential nominee has made it clear that she will not ban fracking, stressing that it’s possible to back a clean energy economy without outlawing the practice.
She maintains that her stance remains consistent, despite advocating for a ban during her 2019 presidential campaign.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
