Mark Cuban wants to update the Second Amendment. 'I would do guns completely differently,' he says

Dallas Mavericks owner Mark Cuban said recently that he believes it's time to update the Second Amendment.

"I would do guns completely differently," the billionaire entrepreneur said during an interview with Yahoo Finance's Andy Serwer that aired Thursday.

Cuban admitted that changing a constitutional amendment would be difficult, but he offered up his three ideas.

What changes would Cuban make?

The ABC "Shark Tank" co-host said that he "would change the Second Amendment in ways that people probably wouldn't expect."

What I would do is this:
1. Every American citizen has the right to own a gun. Period End of story – written in the amendment.
2. The federal government will never be allowed to confiscate that gun from an individual. Period. End of story.
3. States have the right to manage the purchase and ownership and management of guns owned and within their borders. So that if you live in a state like Texas, if the law in Texas is open carry – so be it. If you live in Pennsylvania, where they're more stringent and they don't want you to be able to have a gun, other than in your own premise or you know under lock and key, or you have to do a background check, then that's up to them to decide.

The more than 200-year-old "Second Amendment has been analyzed up and down and backwards and forwards and it's created its own set of problems," Cuban added. "Let's update it."

Did he discuss politics?

At this point, Cuban said he believes President Donald Trump will be re-elected in 2020.

He said he's not a fan of Trump's tariffs but that he understands the president's strategy.

"In terms of battling China, I would approach it differently because I think tariffs are a tax on the American people," Cuban said. "But at the same time, I think we have a variety of other leverage points."

Chinese companies have a market cap of more than $1.4 trillion on the American stock exchanges, he explained.

"They're raising money via IPO," Cuban said. "It's something we can't do in China."

And he had some advice for the president.

"I'd shut down all Chinese IPOs as a first step," Cuban continued. "And given his propensity for using Twitter and just as a kind of throwing warning shots, you know, I would ... throw out there that we might put a halt on the trading of Chinese listed stock in the United States."

That would create "a lot of disruption for Chinese companies," he added.

As far Cuban making a bid for president, Cuban reiterated from a previous interview that it would take a certain set of circumstances to entice him to run.

Watch the full interview:

Mark Cuban talks about what it takes to be successful with anythingyoutu.be