Mark Cuban: Get Rich and Then Pay Your Taxes

By ABC News

Sep 20, 2011 11:11am

ABC News’ Michael Ono reports:

Billionaire entrepreneur and NBA owner Mark Cuban says paying taxes is the “most patriotic thing you can do.”

But first, you must “Bust your ass and get rich,” Cuban wrote in a blog posted Monday, right on the heels of  President Obama’s pitch to raise taxes on the wealthy.

Cuban isn’t the only billionaire interested in giving back. Warren Buffet is the namesake of the president’s new proposal to raise taxes on millionaires and the wealthiest Americans.

Read more about the proposed “Buffett Rule.”

Cuban, worth $2.5 billion according to Forbes magazine, said  that like fellow billionaire Buffet, he would favor paying more taxes. Buffett  is worth $50 billion, according to Forbes.

That’s not to say that Cuban doesn’t like making money.  Cuban made his billions during the dotcom boom by selling his company, Broadcast.com, to Yahoo   for $5.9 billion in 1999.

Cuban now owns a majority stake in the Dallas Mavericks and is a panelist on “Shark Tank,” ABC’s show for entrepreneurs.

“Go out there and get rich. Get so obnoxiously rich that when that tax bill comes, your first thought will be to choke on how big a check you have to write,” Cuban wrote. “Your second thought will be “what a great problem to have,” and your third should be a recognition that in paying your taxes, you are helping to support millions of Americans that are not as fortunate as you.”

He’s even got a position on the role of the federal government.

“I’m not against government involvement in times of need. I am for recognizing that big public companies will continue to cut jobs in an effort to prop up stock prices, which in turn stimulates the need for more government involvement.”

Cuban has put some money in politics. He donated $1,000 to Rep. Zoe Lofgren, D-Calif.,  and $6,000 to Sen. Orrin Hatch, R-Utah,  according to newsmeat.com.  In 2005, Cuban gave an interview to Slate in which he shared his literary love for “The Fountainhead,” a book by the libertarian philosopher Ayn Rand.

“I loved it. I don’t know how many times I have read it, but it got to the point where I had to stop because I would get too fired up.”

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