Billionaire Blasts Companies That Jump Overseas To Duck Taxes: ‘I’m Selling Your Stock’ [View all]

[kpete]

Billionaire Blasts Companies That Jump Overseas To Duck Taxes: ‘I’m Selling Your Stock’

As more and more American corporations have used mergers and shell companies to shift profits and shrink their U.S. tax liabilities over the past few years, there has generally been a sharp divide between populists who decry the maneuvers and investors who celebrate them.

Friday morning saw a high-profile defection from the economic elites’ camp, however, as outspoken billionaire investor Mark Cuban pledged to sell off his holdings in companies that move offshore for tax reasons. “If I own stock in your company and you move offshore for tax reasons I’m selling your stock,” Cuban tweeted.

Mark Cuban ✔ @mcuban
If I own stock in your company and you move offshore for tax reasons I'm selling your stock. There are enough investment choices here
4:45 AM - 25 Jul 2014

https://twitter.com/mcuban/statuses/492636707011829760

MORE:
http://thinkprogress.org/economy/2014/07/25/3464235/billionaire-blasts-overseas-mergers/