Mark Cuban: Capitalism works better if 'we at the top make a little bit less' (via CNBCMakeIt)
and political reforms, Cuban argues that the solution to income inequality can still be found in our current capitalistic economic model.
"I don't think anybody truly believes switching to socialism is going to bridge that gap," Cuban tells Fox Business. "But I do think it's a conversation that we need to have because income inequality leads to social disruption and the biggest risk to this… country and the biggest risk to all businesses… is violence and you know that's what we want to solve.
Cuban, who says he "leans libertarian historically," believes that capitalism is still the best answer to the country's growing income inequality issue. But he also believes in the need for what he calls "compassionate capitalism," which includes wealthy people like him sacrificing some of their wealth to help "bring the bottom up," he says.
"As someone who's wealthy, as someone who is looking to benefit the company, every capitalist has got to do the same thing," Cuban tells Fox Business. "We've got to say, 'Look, if we at the top make a little bit less and we help those at the bottom more, capitalism gets stronger. And it's not socialism, it's stronger and smarter and more, better capitalism.
While Cuban does not specify exactly how wealthier Americans can sacrifice some of their wealth to help narrow the wealth gap, other leaders from the worlds of business and politics have called for increased taxes on the wealthiest Americans to help solve the issue.
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