Mark Cuban says Harris won't tax unrealized capital gains: 'Not going to happen'

• Billionaire investor Mark Cuban insisted that Vice President Kamala Harris would not tax unrealized capital gains as president.
• Harris has already broken with President Joe Biden on tax policy by proposing a smaller hike in the top capital gains rate.
• Harris is teasing out her policy plans in the days leading up to her first, and possibly only, debate with Republican nominee Donald Trump.

Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president.

"Every conversation I've had is that it's not going to happen," Cuban said on CNBC's "Squawk Box."

Cuban, who says he speaks with Harris' team frequently, maintained to CNBC that she is not interested in taxing unrealized gains.

He cautioned, "I'm not going to speak for the vice president, she makes the final decision."

Still, "I'm talking to these folks three, four times a week, having back-and-forth conversations, and their verbatim words to me is, 'That's not where we want to go.'"

"We need to find alternative sources of revenue," Cuban said Harris' aides have told him, "and those alternative sources of revenue are meant to replace what the unearned income -- the unrealized gains tax from the Biden plan would have implemented."

Cuban is neither a Republican nor a Democrat, but he was one of more than 100 venture capitalists earlier this summer who endorsed Harris for president.

Cuban's remarks could signal another break on tax policy between Harris and President Joe Biden, who dropped out of the presidential race in July and endorsed the vice president as his successor.

Biden's fiscal 2025 budget plan proposes a 25% minimum income tax on Americans with wealth above $100 million.

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