Investor Kevin O’Leary is “not happy” with Vice President Kamala Harris’ economic agenda and raised alarm bells over how it may “destroy” the nation’s economy.
The “Shark Tank” star told Fox Business host Stuart Varney that he’s been told “don’t worry” by Harris’s advisers as he tried to get more information about “what’s really going on” with her agenda.
“We’re going directly to her advisers to try and glean some information about what’s really going on here. I’m not going to disclose their names because I don’t want to lose access to them, but I’ve been doing a lot of that in the last week,” O’Leary said Wednesday on “Varney & Co.”
(Video Credit: Fox Business)
“In querying about this idea of taxing unrealized capital gains,” O’Leary continued, “which would basically destroy the economy and change the way every investor would invest and chase capital out of the country, I’ve been told this… ‘Don’t worry about it. Just be happy. There’s no way Congress would ever pass that. She has to keep saying that to keep her base happy, to bring people out to vote for her. But that’s not going to happen. Don’t worry about it.'”
Policy proposals such as Harris’ student loan plan and the federal price gouging ban are examples, O’Leary noted, of plans that will “never happen.”
“When I talk about some of these policies around student loans or controlling pricing on grocery and consumer goods, which has been tried in many countries, Venezuela, Cuba, the old Soviet Union, we know that doesn’t work. ‘Don’t worry about it. Be happy. That’ll never happen. It’ll be blocked in Congress.’ So that’s what her policy advisers are saying,” the investor reiterated.
“My question simply to them is, why can’t she say that herself? Why do I have to get it through you?” he said.
O’Leary noted there were signs of “angst” among investors, citing the example of billionaire hedge fund manager John Paulson who warned he would remove all of his assets from the market if Harris wins the election in November.
“It depends on the policy,” Paulson told Liz Claman on “The Claman Countdown” this week.
“I think if Harris was elected, I would pull my money from the market. I’d go into cash, and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets,” the top fundraiser for former President Trump added.
Billionaire investor says he’ll yank his money from the market if Kamala wins https://t.co/dpXUtsGCIp via @BIZPACReview
— BPR based (@DumpstrFireNews) September 18, 2024
“These policymakers that are giving me this, ‘just be happy.’ Well, maybe I’m going to have to get happy. But right now, I’m not happy,” O’Leary told Varney.
“And I really, really want some policy. I really do. And I think the rest of the market does, too,” he added. “And that comment gives you some idea about how much angst there is out there.”
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