{"id":6678,"date":"2026-08-16T09:39:46","date_gmt":"2026-08-16T09:39:46","guid":{"rendered":"https:\/\/metrotransitreview.com\/?p=6678"},"modified":"2026-08-16T09:39:46","modified_gmt":"2026-08-16T09:39:46","slug":"mark-cuban-delivers-brutal-reality-check-on-california-billionaire-tax-ideology-is-not-a-strategy","status":"publish","type":"post","link":"https:\/\/metrotransitreview.com\/?p=6678","title":{"rendered":"Mark Cuban delivers brutal reality check on California billionaire tax: &#8216;Ideology is not a strategy&#8217;"},"content":{"rendered":"<div>\n<p>Far-left progressives are trying to rally up support for California\u2019s controversial one-time 5% tax on billionaires that\u2019s up on the November ballot \u2014 but famed businessman Mark Cuban on Saturday delivered a brutal assessment to one of the tax\u2019s biggest supporters.<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=6676\">Putin loses 43K soldiers on Ukraine battlefield in one of bloodiest months since start of war<\/a><\/p>\n<p>Cuban, himself a billionaire, chastised Democratic Congressman Ro Khanna for supporting the tax: \u201cIdeology is not a strategy.\u201d<\/p>\n<p>Khanna, a potential 2028 White House contender, was celebrating on X that the California Democratic Party endorsed Proposition 40 in defiance of more mainstream Dems such as Gov. Gavin Newsom.<\/p>\n<p>\u201cCalifornia voters want a Democratic Party that will stand up for the working class over the billionaire class,\u201d the congressman proclaimed.<\/p>\n<p>But Cuban said Khanna was not assessing the situation accurately.<\/p>\n<p>\u201cRo, I like you. You know that. But you need to read the state of the state,\u201d he tweeted at Khanna.<\/p>\n<p>Cuban lauded the number of \u201cunicorn\u201d startups in the state, powered by Silicon Valley, that seems to be growing every day. Those startups often can can raise billions of dollars as investors chase after the AI frenzy, meaning founders can become billionaires overnight \u2014 and then find themselves taxed.<\/p>\n<p>\u201cThey are the definition of cash poor, stock rich,\u201d Cuban explained, adding it would be difficult to tax people in that situation. <\/p>\n<p>\u201cDo you really think each of multiple founders, who started an amazing company in Cali and is now a billionaire, can each just pull out $250m per billion of net worth from their raise? You know they can\u2019t.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=6674\">Georgia creep attacks teen girl, threatens to rape her after he smashes through neighbor\u2019s wall<\/a><\/p>\n<h2><strong>Download The California Post App, follow us on social, and subscribe to our newsletters <\/strong><\/h2>\n<div>\n<p><strong>California Post News<\/strong>: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedIn<br \/><strong>California Post Sports<\/strong> Facebook, Instagram, TikTok, YouTube, X<br \/><strong>California Post  <\/strong>Opinion <br \/><strong>California Post Newsletters<\/strong>: Sign up here!<br \/><strong>California Post App<\/strong>: Download here!<br \/><strong>Home delivery<\/strong>: Sign up here!<br \/><strong>Page Six Hollywood<\/strong>: Sign up here!<\/p>\n<\/div>\n<p>If Prop 40 passes, Cuban claimed businesses and investors, including himself, would definitely seek to avoid California; in fact, he said he would make it a requirement to not be based in California.<\/p>\n<p>\u201cYou can bet if I\u2019m investing in a multi- billion dollar startup, I\u2019m asking them to move from California first,\u201d he said. \u201cIf this passes, only idiot startup founders stay in Cali.\u201d<\/p>\n<p>The congressman still seemed to not be convinced, replying to Cuban with a question on another potential way to tax billionaire startup founders even if their net worth isn\u2019t in cash.<\/p>\n<div>\n<\/div>\n<p>Californians are currently divided over Prop 40, according to a recent poll, which showed 48% support compared to 41% who opposed. About 11% are undecided.<\/p>\n<p>It\u2019s especially important for Prop 40 to garner as many \u201cyes\u201d votes it can as billionaires like\u00a0Sergey Brin have poured money into competing ballot initiatives\u00a0that may override it. Typically, the initiative that gets the most votes is the one that goes into effect.<\/p>\n<p>The proposed tax has split Democrats, with many labor groups backing it as a way to offset federal health cuts but prominent figures like Newsom worrying it will destroy the state\u2019s economy.<\/p>\n<p>Read more <a href=\"https:\/\/metrotransitreview.com\/?p=6672\">Climbing stairs linked to dramatically lower risk of dying from heart disease<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Mark Cuban slammed California\u2019s proposed 5% tax on the super-rich, telling Rep. Ro Khanna \u201cIdeology is not a strategy.\u201d<\/p>\n","protected":false},"author":1,"featured_media":6677,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mark Cuban delivers brutal reality check on California billionaire tax: &#039;Ideology is not a strategy&#039; - Metro Transit Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/metrotransitreview.com\/?p=6678\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mark Cuban delivers brutal reality check on California billionaire tax: &#039;Ideology is not a strategy&#039; - Metro Transit Review\" \/>\n<meta property=\"og:description\" content=\"Billionaire Mark Cuban slammed California\u2019s proposed 5% tax on the super-rich, telling Rep. 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