The star of the hit television show “Shark Tank,” Kevin O’Leary, had a stark warning about the economic policies championed by Democrat presidential candidate Vice President Kamala Harris.
“You’ve got to face the music. Kevin, let’s talk about her tax policy. The Wall Street Journal has done their analysis. This is what they report back. They say, ultimately, big picture here is that under her plan, taxes would go up for high-income households across the board. Most Americans’ taxes would remain unchanged or possibly lower, and a whole lot of lower-income parents would get some new breaks. Does that match your read on it, and what do you think?” the host said.
“I’m worried about something far more sinister. The idea to raise capital gains tax to make America uncompetitive. You’ve got to think about capital. We’re the number one economy on earth. Most foreign capital wants to invest in America because it’s competitive. But when all of a sudden you make us, and you’re looking at the G20, all countries where you’re sovereign wealth, you want to put $100 billion to work and infrastructure, you care about capital gains tax. You care about the corporate tax rate,” the “Shak Tank” star said.
“Remember, 82 percent of jobs in America are created by private companies that are corporations. That’s who America works with and for, and how we pay for our society. Why do you want to punish them for success? And so at the end of the day, when you make yourself so uncompetitive in the plethora of economies that compete with us, and all of a sudden say corporate tax rates are the highest now, we’re in the bottom quartile of competition, it’ll be like what happened when we had 28 percent plus corporate taxes when companies started going to Ireland,” he said.
“We’ve already tried this. It doesn’t work. And I want to hear her answer that question. I really, really want to hear how she feels about the number one economy. Remember, she’s the steward of the number one economy on earth. This is a really, really, really bad idea. Incredibly bad policy,” he said.
He went on to allude to what many people believe are “communist” policies that the vice president supports.
“The number one export of America is not a product or service. It’s the American dream. That’s the number one export. Don’t mess with the American dream. There’s a reason people go through barbed wire to try and get in here. We don’t want to set a policy up where they’re trying to get out of America,” he said.
