Mark Cuban joined Brian Kilmeade and spoke about why he feels Kamala Harris’s economic policies are better, particularly for small and medium sized businesses. Cuban praised Harris plan that anybody making under $400,000, their taxes will not go up and how for 100 million of those people, their taxes will go down. Cuban also was asked about Harris flip flopping on her border stance and explained his belief why Harris is stronger on the border than Donald Trump. Cuban finds it scary that Donald Trump is talking about mass deportations and rounding people up. Cuban concedes there needs to be a better job done on the border and thinks the big differentiator between the two is how they deal with deportation.
Watch here:
Rough transcript here:
Brian Kilmeade [00:00:00] Joining us right now is Mark Cuban, and you can see him on Skype if you watch Fox Nation. Mark also founded the Cost Plus drug company dedicated to producing how low cost versions of high cost generic drugs. And he’s been Tell me about how he’s working on that. Mark, great to see you.
Mark Cuban [00:00:17] Thanks for having me, Brian.
Brian Kilmeade [00:00:17] And, you know, I’ve been talking to you for about a year. When are you going to willing to talk about this drug thing? You’re innovative way of bringing down the price of drugs. You’re not quite ready yet.
Mark Cuban [00:00:26] So I’m ready to talk any time you want. But you’re right. You know, let’s talk.
Brian Kilmeade [00:00:30] About the politics stuff. So what made you convinced over the last month I see you quite visible that you want to go so hard for the vice president.
Mark Cuban [00:00:39] He just thinks he’ll be a better president. I just think that our policies are better. You know, I’ve been very involved with their business policies. I think they’re better, particularly for small and medium sized businesses. I just think she sets a better tone. She’s a lot more positive when it comes to dealing with our country. And so those are the things that really make a difference to me. I just think she would be a better president to bring this country together and move us forward.
Brian Kilmeade [00:01:04] So I saw you do a one on one interview where I watched you do it and you think there’s $6,000 tax credit will be a big break for families. But in terms of details on almost any proposal, it seems to fall short. And this is the one thing that I thought would keep you on the sideline. This is how the vice president’s first policy speech. Listen to Cut eight.
Mark Cuban [00:01:25] Sir, is a border wall stupid?
Speaker 3 [00:01:27] Well, let’s talk about Donald Trump and that border wall. So remember, Donald Trump said Mexico would pay for it. Come on. They didn’t.
Mark Cuban [00:01:37] You’re agreeing to a bill that would earmark $650 million to continue building.
Speaker 3 [00:01:41] We I, I pledge that I’m going to bring forward that bipartisan bill to further strengthen and secure our border.
Brian Kilmeade [00:01:50] So that was all of the town hall. But you said about the border in Texas. Every time I go the words of San Antonio, Dallas or Houston or Austin. Illegal immigration is a huge issue, doesn’t it? Yes, it is. The way they dropped were they dropped the ball for the last three and a half years?
Mark Cuban [00:02:07] Well, I didn’t think it was perfect for certain. And she’s basically by saying that she’s going to be enhancing what they’re doing at the border. She’s saying, you know what, we have to do a better job. But I think the bigger issue when it comes to immigration is deportation. You’ve heard Stephen Miller and Donald Trump talk about mass deportations. You’ve heard him talk about rounding people up. You’ve heard him talk about checkpoints. That’s scary. You know, just think about someone showing up at your, you know, your job and just dragging people out or showing up in your neighborhood. So I think while, you know, when you go through basic immigration, she said, look, we’ve got to do a better job on the border. She says she signed the Lankford bill. She said that she changed the approach to asylum. But the big differentiator between the two is how they deal with deportation. And I think that is enormous.
Brian Kilmeade [00:02:54] First thing you got to do, get the criminals out. You know, six out of every ten Americans is for deportation of illegal immigrants. The first thing they do is going to get the criminals out. The first thing.
Mark Cuban [00:03:04] They’ll do that.
Brian Kilmeade [00:03:04] And they will stir up in triple the size of ice, which which she basically said were akin to white supremacy or Nazis. No.
Mark Cuban [00:03:14] No. Come on, Brian. Come out. Yeah. When she was senator. But things when you’re representing the People’s Republic of California, that’s a whole different job than being the president of the United States and representing all Americans. And she’s she’s definitely evolved in her positions. So now where we’re at today, border crossings are way down. Right. She say she’s saying that if you’re a criminal and you cross the border illegally, you will be deported. She’s also said that crossing the border in and of itself is a crime. But, you know.
Brian Kilmeade [00:03:42] So but you pretty much do that. Here’s where I thought your standard would be different. She never tells why she changed her mind. It makes people think if you said something to 2019 and you did nothing for three and a half years, you’re changing your mind because the policies of the other party seem to be where the country is. Why this? Why Trump as a 15 point lead, according to the New York Times on immigration. And tell me, Todd Benjamin from the Center for Immigration Studies, a senior fellow, said this is the reason why border crossings are down 27.
Speaker 4 [00:04:14] The first thing is that the Mexican government cut a deal with the Biden administration almost a year ago to scoop up thousands of immigrants from our border and internally deport them all the way to their southern border with Guatemala and then trap them. They’re behind a military blockade, all the roadblocks. So the build up down there is unbelievable.
Brian Kilmeade [00:04:40] And 2000 are now coming this way minimum to the border.
Mark Cuban [00:04:45] Brian, Brian, listen to what he said. I think you’re misrepresenting what he said. I love what she said. What they’re doing, what they’re saying is I’m sorry. Well, what Cuomo said versus the this gentleman. So what this gentleman said was we’re not going to put together a policy that said you have to stay there, you have to stay, and then we’ll send you down to a Central American country, wherever you’re from, and you can’t leave. Now, you’re saying that that’s just going to create a build up. Well, she’s saying she’s increasing this, the security at the border. So that’s a great thing. I think that’s something Trump would do.
Brian Kilmeade [00:05:17] Well, if, you know, the remaining Mexico is what Trump did. This is hide them in Guatemala until after the election.
Mark Cuban [00:05:23] That was No, no. You’re presuming. No, you’re presuming it’s till after the election. That’s not the case. In fact, Microsoft did a deal with them down there in Mexico where they created 250,000 jobs. They’re doing things to give. Yes, for sure. And so they’re giving them ways to stay down there. It sounds like a great program, but by the way, you can’t assume they’re just going to come out.
Brian Kilmeade [00:05:43] You know, they’re going to come. You know, 8 million people came over the last three and a half years, disturbing almost every major city in the country. Would you also agree that sanctuary cities have to go in this country? And if she was serious about it, she would have said the first thing we do is get rid of sanctuary cities because you can’t deport the criminals if they’re here, if they’re in a sanctuary city, that Chicago. That’s New York. That’s San Francisco. That is Los Angeles. That’s Philadelphia.
Mark Cuban [00:06:09] But now you hear those cities themselves talking about what they’re going to do in their changes to their approach. And so she said she would work with them. And that’s the way Donald Trump talks about that all the time.
Brian Kilmeade [00:06:19] Marc, if you just talk about performance, you’re all about I want you I got a chance to know you. You’re all about execution. Trump said that in 2017 and of sanctuary cities, the courts stopped them. This she’s saying in theory, I will do something I haven’t done for three and a half years or. Recommended that Trump wrote up in 2017 with the sanctuary cities.
Mark Cuban [00:06:40] Right. But that brings up a good point, right? Kamala Harris says she’s going to do something. Yeah, it’s.
Brian Kilmeade [00:06:45] Changed. She never said a word to sanctuary cities, by the way. You’re saying that.
Mark Cuban [00:06:48] No, what I’m saying is she said she’s talked to the mayors of those cities. Right. She’s not come out and said specifically. You’re right. But at the same time, she has put she said she’s not going to just let people cross the border. She said it’s a crime if you cross the border. She said if you’re breaking the law beyond just crossing the border, you will be deported. But she hasn’t said any.
Brian Kilmeade [00:07:07] But, you know, she never said anything like that. Do you know, Mayorkas said the border was even a problem for three years. And she if you don’t want to use the term czar, go ahead. You know, you can go do that. But she was in charge. He was given the same thing that Joe Biden as vice president was. And you know about Joe Biden, the vice president, he actually flew to those countries and put pressure and nobody put more pressure on the Trump people. But I do want to talk about the economy, unless you want to say something else.
Mark Cuban [00:07:31] Yeah. Yeah. Real quick, two things. One, she did put pressure. That’s why they’re staying down there, too. She has said if you haven’t been here five years, you got to leave. You got to. The real question is, what do you do with the. Yes. Yes. She’s come out and said, you have to be here five years. You don’t get automatic citizenship. Touch soil is no longer to be the case when she signed them. The length for Bill and then how you deal with deportations is everything for the economy and for it. Because she understands that we’ve got we can’t have mass deportations. We can’t have door knocks. We can’t have checkpoints. We get people.
Brian Kilmeade [00:08:04] Arguing. You take two years, the other criminals out before we even can go look at people that are just staying here, working in kitchens illegally or delivering your food.
Mark Cuban [00:08:13] But even in two years, you don’t want to have a complete disruption of the country.
Brian Kilmeade [00:08:17] But I think that for the American people, I think two things put Trump as even talked about this more work visas and more legal immigration. Sure. So legals got to go. But can we talk about another layer of your expertise? Is the economy. But the Trump tax cuts are about to evaporate. Are you If you don’t if they don’t get renewed, they’re just going to go away. Are you for that? Get it? Getting the corporate rate up to 35%. All the income tax brackets have benefited on average Americans making between 15 and $50,000 receive a tax cut of between 16 and 26%. All those making 50 to 100,000 received a tax break of 15 to 17%. Are you for letting that the Trump tax reform evaporate?
Mark Cuban [00:09:04] So I’m for the approach. I’m for the approach that Vice President Harris is taking. What is she has said is what she has said is that anybody making under $400,000, their taxes will not go up. And for 100 million of those people, their taxes will go down. And that applies also to that.
Brian Kilmeade [00:09:21] Unless she does something else, she’s got to do something.
Mark Cuban [00:09:24] Well, of course. Of course she’s got to do something. All of Donald Trump’s programs, she’s got to do something as well. But she has said that and realize that of the 3 million companies in this country, 99% of them are pass through. So for 99% of the CEOs and the entrepreneurs that are out there that make $400,000 or less, their taxes are only going to stay the same or go down. And to me, that’s a great policy.
Brian Kilmeade [00:09:48] When you look at the when you say pass through, what is that?
Mark Cuban [00:09:52] So if you have a subchapter S company, if you have a limited liability, a solo entrepreneur, a sole proprietorship, what that means is it’s your personal taxes that are taxed. Your business taxes are taxed as if they’re your personal tax. Okay? And so so that everybody that means almost every business in the country is going to benefit.
Brian Kilmeade [00:10:11] So if you just look at performance, unless you just wants to say, I had nothing to do and Joe Biden never listed look at me because it when pressed about performance, he’s like I’m vice president when say what she’s going to do while I wasn’t there I’m brand new when pressed what you did is senator don’t count that count what I did as attorney general when it comes to being tough on the border. But don’t count what I did a vice president. So it’s hard to keep up. But when it comes to performance, if you’re going to judge the administration for one case, lost an average of 9% to $12,000 just because of inflation. And if you could say.
Mark Cuban [00:10:44] No, no, no, not now, you’re manipulating numbers, right? Go ahead. Believe the numbers right now.
Brian Kilmeade [00:10:47] What he did wrong.
Mark Cuban [00:10:48] I mean, because most people’s for for one case are have stocks and the stocks are setting record highs every single day. And you’re seeing the net worth of the median net worth of the country go up significantly. And so and you’re seeing real wages increase beyond inflation now. So you’re seeing people’s for one case go up. And that’s a great thing.
Brian Kilmeade [00:11:08] But not as it relates to inflation. They said if you take in certain rate, you say inflation for one case, adjusted for inflation, lost $12,000 or 9%. The graph doesn’t.
Mark Cuban [00:11:20] When you published that, Brian, who and when did they publish that? Because with the record highs now I’m just telling you that that data is wrong.
Brian Kilmeade [00:11:28] Okay. It was from my brain room because I asked for everything. The other thing is, know our brain room’s great.
Mark Cuban [00:11:34] No, they’re amazing. I don’t discount that at all.
Brian Kilmeade [00:11:37] So the pandemic hits, and there’s a lot of spending. I got it. But yeah, even though Jason Furman, Steve Rattner, Rattner and Larry Summers came out and said, we don’t need the rescue package, she did it or he did it and she did it. Write whatever you want to decide. So trillions of dollars goes into the economy, and that was the beginning of rapid inflation. And then you got the Inflation Reduction Act, which is which would say laughed at and said it really was an inflation reduction. It’s actually a portion of the new Green Deal. Now, I can’t believe that Mark Cuban would say that these are good moves. And if you’re looking to see if if past is prolog, you would think that she’s going to do more of this and how the role that played in oil prices going up 20% on her rein. Your thoughts.
Mark Cuban [00:12:21] So sure, a couple of things. One, that wasn’t the start of inflation, so that’s not correct.
Brian Kilmeade [00:12:25] When did it start?
Mark Cuban [00:12:27] So inflation really started back in April of 2020 when, remember, right at the beginning of the pandemic, when there was all lockdowns, the price of gas was $1.85 everywhere, you know, and prices seemed to be going lower at that point in time. The oil companies went to Donald Trump, who was president at the time, and said, look, it’s not sustainable for us to have oil prices as low as they are. They were at record lows. We even saw negative oil prices for a while. And what he what they asked Donald Trump to do and Donald Trump did was go to Saudi Arabia and Russia and say, look, you guys have to reduce your production because if you don’t, then our oil industry is going away. And as it turns out, the oil industry would have got pandemic money anyways. BPP money. But he said, okay, let’s do this deal. He went to Putin and asked and said, Please reduce production. They did. And that was. I’m not saying it’s the full cause of inflation, but that was when inflation started, because when you reduce the production. Right, and demand starts to grow as more people leave their houses, the price of gas goes up quickly. So the point being that Donald Trump had the choice between helping the oil companies or keeping gas prices low for the American people. He chose to help the oil companies. That was the beginning of inflation.
Brian Kilmeade [00:13:38] Well, here’s the thing. If you’re a guy that became a billionaire for a reason because you’re great with numbers, when he was in inflate when he left office, inflation was at 1.9%. If you say that happened in May. So you’re saying it was a rubber band and the rubber band pulled back and they just let go when Trump left office? You don’t think. No, no, no, No. Trillion dollars. No. 2 in 2021, when Biden took over and the 7 billion he put in, that we basically had to put toner into a printer.
Mark Cuban [00:14:06] No, you’re right that when Biden continued to spend that, that definitely influenced inflation considerably. But you asked the question, when did it start? And so on one hand, Donald Trump says, look, we’re drill, drill, drill. We’re going to cut the price of gas and that’s going to reduce everything else. The opposite also works when you you know.
Brian Kilmeade [00:14:25] Right.
Mark Cuban [00:14:25] When you take it the other way, it influences inflation. And that was the start of inflation.
Brian Kilmeade [00:14:30] My opinion, Mark, if you would have to be secretary of treasury. And we shouldn’t look at the back of a baseball card to know what kind of president she’ll be. Real quick, on taxing unrealized capital gains. So that means for a layman, if I have if I have a great IP, if I have a great stock and I get this great company, I don’t have any cash, but the tax bill is due. I get a cash in my stock. You can’t sign off on that, right?
Mark Cuban [00:14:54] No, of course not. And I’ve said that many, many times. Let me just give you the history of that real quick. That was in Joe Biden’s 2024 budget. It has never been proposed by anybody. So when somebody in the Harris campaign said we support Joe Biden’s budget, they didn’t get into details. And so Kamala comes along and says literally, Joe Biden wanted a 34.5% or 44% income tax. She’s picked 28%. Joe Biden wanted a higher capital gains tax. She picked 28%. When it comes to unrealized capital gains, I’m telling you. Right. That is not going to happen.
Brian Kilmeade [00:15:28] It was in her original speech, Mark, when she said, no, she’s in August, I think.
Mark Cuban [00:15:34] And she said, I support Joe Biden and things he done. And then everybody took and ran with that. They ignored the fact that Joe Biden’s corporate tax proposals were far higher than Kamala’s Joe Biden’s capital gains tax was far, far higher than Kamala’s Mark.
Brian Kilmeade [00:15:49] I will tell you what, I would feel great in any country and any administration with you handle on the money and the innovation, the entrepreneurial spirit. I just want to reject the person that you’re describing. But I was just talking to you, and we’re going to do it on television next week. Okay.
Mark Cuban [00:16:05] You got it. That’s the deal.
Brian Kilmeade [00:16:06] You got it.
