Shark Tank’s O’Leary Pans VP Harris’ Business, Tax Plans: ‘Horrific’

Democrat presidential nominee, Vice President Kamala Harris, has a plan for the taxes that could cripple the economy of the United States, investor and “Shark Tank” star Kevin O’Leary believes.

The O’Leary Ventures chairman said that the vice president’s plan could have “multiple effects” for businesses and for average Americans, Fox Business reported.

“Taxes will go up with their proposals,” he said Thursday on “The Big Money Show,” “she’s admitting that, she’s not denying it.”

“That’s a debate that’s going on in terms of the classic, ‘make the rich pay their fair share,’” he said. “That’s a narrative that goes into every single election cycle.”

“The more concerning one for the economy, not just personal taxes, is corporate tax rates. That, at her proposed 28%, would put the U.S. economy in an uncompetitive position,” the investor said.

The vice president has promised a $50,000 tax break for startup small businesses but he said the higher corporate tax rate could drive investments and businesses to leave the United States.

“Last time we did this to ourselves, we started to see dislocation of headquarters moving to places like Ireland and other lower tax jurisdictions,” the “Shark Tank” star said. “That, we shouldn’t do. That’s a mistake for either party. That’s a huge mistake.”

“We’re right in the middle, right now, in the G7, G20. So if all of a sudden we start charging [a] 28% corporate tax rate, plus add on state [taxes], in some cases, you’re in the 30 [percentile] and that’s just not competitive anymore in terms of the G20 or G7,” the investor said.

“That’s, to me, the most horrific outcome, and I’m very nervous about that,” he said.

He said that no matter who is elected the uncertainty over policy is concerning for business owners.

“This [is] a policy-lite election. I’m disappointed that Harris doesn’t give us more policy specifically on taxes, specifically on corporate taxes. I need to know that. So does everybody else,” the “Shark Tank” star said.

“Remember, this is the No. 1 economy on Earth… 50% of capital invested worldwide comes here,” he said. “We don’t want to do anything to change that.”

Earlier this month he gave another warning about what the vice president would do to the nation if elected.

O’Leary made the remarks during a Friday interview on NewsNation, where he described Harris as the “it kid” but criticized her as a “blank sheet of paper” on policy positions despite her previously holding several extreme left-wing views during her unsuccessful 2020 presidential campaign.

“I don’t blame her for not bringing up policy. She should just rant and rave, saying ‘I’m not Trump’ until August 7 because she’s raising so much money,” he said. “But then, she’s got to talk policy, and I don’t know what that looks like, and nobody does because she’s like a blank sheet of paper.”

The last “it kid” in Western policies, he said, was Trudeau.

“There’s an example of an ‘it kid’ up in Canada a few years ago, Prime Minister Justin Trudeau,” he said. “Nobody looked at his background. Nobody looked at his policies. He was the ‘it kid.’ That country is on its knees! He wiped it out!”

“Are Americans basically going to hire or basically bring a president that’s another Justin Trudeau?” he asked. “I hope not.”

Former President Donald Trump is leading Harris by three percentage points in a recent national head-to-head survey conducted by Rasmussen Reports.

“Trump came out ahead 49% to 46%. That amounts to a slight gain for Harris, who was lagging behind Trump 45% to 49% in Rasmussen’s poll last week. When third-party hopefuls were added to the mix, Trump came out on top again with 47% to Harris’ 45%, followed by independent contender Robert F. Kennedy Jr. at 4%, and all others at 1% or less, per Rasmussen,” the New York Post reported.