MARK CUBAN: If You're Company Is Moving For Tax Reasons, I'm Selling Your Stock
Last night, President Obama spoke with CNBC's Steve Liesman, and their first topic of conversation was the issue of tax inversions, or mergers where U.S.-based companies acquire foreign companies and move their tax base overseas to enjoy lower rates.
Obama said this strategy, among other things, "undermines people's confidence in how companies are thinking about their responsibilities to the country as a whole."
Cuban took his rhetoric a step further: he said he's selling stock in companies that move for tax reasons.
On Twitter this morning, Cuban fired off a series of tweets about how companies that move their tax base overseas to avoid paying taxes force existing taxpayers to make it up elsewhere.
Cuban is one of the most outspoken and influential business voices around, and his comments are certain to get notice.
The chances that these comments spur action in Congress, which is where any move to limit tax inversions really needs to come from, are probably remote.
But the more people that are outspoken against tax inversions, the harder it might be for Congress and corporations to maintain the status quo.