Mark Cuban
Mark Cuban|Aug 16, 2026 03:22
When you talk to voters in Cali, and you discuss Prop 40, do you tell each voter how they will benefit ? The state estimates that it could generate 100b, which will be paid over the 5 yr term, or 20b a year. Give or take. The state lost about 30b In federal Medicaid funding? Which means, even if you took 100pct of the Prop 40 funds each year , to subsidize the loss funding, it doesn’t cover it. The good news is that a few million people who lost coverage, could get it back. And people working at providers that accept medi-cal could keep their jobs. That’s great But it also means that only a few million Californians will benefit. Great. The rest get no benefit. None at all. Zero. Anyone you talked to that didn’t lose Medicaid , won’t get shit. Affordability? Nope. Lower healthcare costs ? Nope. Lower gas prices Nope. Lower home insurance. Nope. Wildfire protections. Nope. Here is the math as I see it, and feel free to correct me. Right now cali collects 13.3 pct on ANY income above 1m a year. You also collect 8.8 pct on cali corporate earnings. Which would rather have 13.3 pct and 8.8 pct that people have been paying. Annually. Or a one time 5 pct tax, which probably equates to about 20b a year , plus some unknown number of wealthy people leaving and taking their companies and jobs with them. It’s a math problem. Not an easy one. Now if you went to those same voters and told them you are going to cut their healthcare, food, housing, home/renters insurance , and more, which do you think they would prefer? A billionaire tax or lower costs at home ? But that would require actually doing things outside your comfort zone.(Mark Cuban)
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