Dallas Mavericks owner Mark Cuban on reopening the economy amid the coronavirus and discusses the possibility of a presidential run.
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Billionaire Mark Cuban said Wednesday that he is fully committed to helping President Trump reopen the U.S. economy that was attacked by the coronavirus.
“Right now I’m supporting the president,” Cuban told FOX Business’ Stuart Varney referring to hinting at running for the presidency. “I’m here to help him on his council. Whatever I can do as an American – I’m all in.”
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Trump on Tuesday named Cuban as one of the leaders that he would be meeting by telephone to help resurrect the ailing U.S. economy.
In this April 3, 2020, photo, a woman walks by local stores during the coronavirus pandemic in New York. (AP Photo/Mark Lennihan) (Associated Press)
While the Dallas Mavericks owner would not discuss plans for a presidential run, he did float some economic ideas that he believes “conservatives would be very interested” in hearing.
First, Cuban said he isn’t sure whether the Small Business Administration’s Paycheck Protection Program and the Economic Injury Disaster Loan programs are working and there should be a “friction-free approach to keeping the economy open.”
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“I’d work with the Fed and the Treasury and banks to install an overdraft protection program and that allows small businesses and medium-sized businesses, in particular, to continue business as usual,” he said.
Dallas Mavericks owner Mark Cuban looks on after a game against the Indiana Pacers at Bankers Life Fieldhouse on Feb. 3, 2020 in Indianapolis, Indiana. (Photo by Joe Robbins/Getty Images)
Cuban also believes investing in robotics would create an “America 2.0” that established the U.S. as the economic leader of the world.
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“I think we have to start talking about robotics taxes, because when we get back to work if we’re really going to bring manufacturing back here, we can’t try to recreate the manufacturing of the past where we put everybody in the assembly line and pretend that there’s going to be a lot of manufacturing jobs. We have to invest as a country in robotics because that’s the way we’re going to be able to bring manufacturing over here and beat the pants off the Chinese at what they do best, which is low-cost manufacturing,” he said.
Cuban said by having a robotics tax of 12 percent, which mimics what is done for Social Security taxes, 9 percent can be allocated to the Social Security and Treasury Fund, 3 percent reinvested into robotics, allows the U.S. to compete globally.
