'HUGE MISTAKE': Kevin O'Leary warns this Harris policy will have a 'horrific outcome'

Published: Sep 11, 2024 Duration: 00:06:22 Category: News & Politics

Tags : Fox News Kamala Harris donald trump 2024 election 2024 presidential election presidential election how to become a millionaire Fox Business kamala harris news fbn taxes us economy kamala harris economy kevin o'leary kevin o'leary shark tank kevin oleary The Big Money Show how to make money Kamala Harris taxes kamala harris tax policy success habits Kevin O'Leary healthy snacks Kevin O'Leary kids health eating millionaire habits

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AND MORE ON THAT AHEAD. NEIL: STILL NO PLAN FROM HARRIS. IF TAX CUTS DO EXPIRE AMERICANS WILL FACE A HIKE. A COUPLE WITH TWO KIDS MAKING $165 A YEAR WOULD PAY $2400 MORE IN TAXES. AND LET'S START THERE. THERE ARE MANY TAX POLICIES THE CRIPPLED THE ECONOMY. THEY ALLOW THE TRUMP TAX CUTS TO EXPIRE, THAT HAS BUSINESS IMPLICATIONS, CAN YOU TEASE IT OUT FOR US? >> MULTIPLE EFFECT WE HAVE TO WORRY ABOUT. PERSONAL LOANS OBVIOUSLY, TAXES WILL GO UP WITH HER PROPOSALS, SHE'S ADMITTING THAT, NOT DENYING IT. THAT IS A DEBATE GOING ON IN TERMS OF THE CLASSIC MAKE THE RICH PAY THEIR FAIR SHARE. THAT IS IN EVERY ELECTION CYCLE. THE MORE CONCERNING ONE FOR THE ECONOMY, NOT JUST PERSONAL TAXES BUT CORPORATE TAX RATES, 28% PUTTING THE US ECONOMY IN AN UNCOMPETITIVE POSITION. LAST TIME WE DID THIS TO OURSELVES WE STARTED TO SEE DISLOCATION IN PLACES LIKE IRELAND AND OTHER JURISDICTIONS. THAT WE SHOULDN'T DO. THAT'S A MISTAKE FOR EITHER PARTY. IF ALL OF A SUDDEN WE START CHARGING 28 CORPORATE TAX RATES PLUS ADD ON STATES IN SOME PLACES YOUR IN THE 30s AND THAT'S NOT COMPETITIVE IN TERMS OF THE G 20 OR G7. THAT TO ME IS THE MOST HORRIFIC OUTCOME AND I'M NERVOUS ABOUT THAT. NEIL: EVERY DAY YOU TALK TO ENTREPRENEURS, PEOPLE HAVE A GREAT IDEAS CREATING INNOVATION IN THIS MARKET. WHAT ARE THOSE ENTREPRENEURS TELLING YOU ABOUT THE INVESTING OR CREATING AN ENVIRONMENT IN THIS CURRENT CLIMATE? >> THE UNCERTAINTY IS WHAT WE ARE WORRIED ABOUT. WE HAVE TO WORK REGARDLESS WHO IS IN THE WHITE HOUSE ON NOVEMBER 6TH. WE NEED TO GET AN IDEA OF POLICY. THIS IS A POLICY LIGHT ELECTION. I DISAPPOINTED HARRIS DOESN'T GIVE US MORE POLICIES SPECIFICALLY ON TAXES. I NEED TO KNOW THIS. THIS IS THE NUMBER ONE ECONOMY ON EARTH. AMERICAN ECONOMY, 50% OF CAPITAL INVESTED WORLDWIDE COMES HERE. WE DON'T WANT TO DO ANYTHING TO CHANGE THAT AND THE NUMBER ONE EXPORT OF AMERICA IS NOT A PRODUCT OR SERVICE. IT'S THE AMERICAN DREAM. THERE'S A REASON PEOPLE RISK THEIR LIVES TO COME HERE. WE DON'T WANT TO DO ANYTHING TO CHANGE THAT. THAT'S WHY I AM CONCERNED ABOUT TAX POLICY AND CAPITAL FORMATION. THE HIGHER YOU RAISE CORPORATE TAXES THE HARDER IT IS TO CREATE CAPITAL OPPORTUNITY AND THAT'S WHAT I'M WORRIED ABOUT. THE AMERICAN DREAM IS AT STAKE. EVERYBODY SHOULD THINK ABOUT THAT. THAT HAS KEPT THIS ECONOMY GOING FOR 200 YEARS, THE NUMBER ONE EXPORT. BRIAN: SOMETHING YOU HAVE IDENTIFIED AS ONE OF THE GREAT MARKET SPACES, HEALTHY SNACKS. YOU GOT OUR ATTENTION WHEN YOU MENTIONED THAT A FEW WEEKS AGO. WE DID A STORY YESTERDAY HOW THEY ARE NOW AMAZING WEIGHT LOSS DRUGS FOR KIDS AS YOUNG AS FIRST GRADER KINDERGARTEN. I LOOK AT YOU AND HEALTHY SNACKS AND THIS MOVEMENT. ONLINE INFLUENCERS PUSHING THIS EVERYWHERE, SENATORS GOING AFTER THEM FOR THIS. ISN'T THAT A PROBLEM FOR THE HEALTHY SNACK MARKET? DID YOU PICK THE WRONG SPACE? ISN'T AT IT ALL ABOUT THE WEIGHT LOSS DRUGS NOW? >> IT IS NOT DRUGS, IT'S A HEALTHY LIFESTYLE, EXERCISE AND EAT MODERATELY. THAT'S WHAT WE SHOULD BE PUSHING. PART OF THAT IS HEALTHY SNACKS. I JUST THINK ABOUT THE PAST 40 YEARS HOW IT CHANGED MY DIET. I WANT TO ENJOY THE EXTENDED PERIOD. I AM NOT A FAN OF THIS DRUG IDEA. I'M NOT WORRIED ABOUT THESE DRUGS YOU INJECT YOURSELF WITH TAKING AWAY FROM HEALTHY EATING. THIS IS THE FASTEST GROWING. I'M OUT HERE IN CALIFORNIA. I JUST WENT THROUGH THE EARTHQUAKE A FEW MINUTES AGO. THAT WAS FUNKY. FELT LIKE A WAVE GOING THROUGH THIS HOTEL ROOM. WE ARE SHOOTING SHARK TANK. I'VE NEVER SEEN MORE AROUND REDUCING SUGAR AND SODIUM AND BRINGING MORE NATIONAL ELEMENTS TO SNACKS. NEVER BEFORE. JACKIE: FINAL TOPIC, A NEW SURVEY OUT SHOWS ONE IN FOUR PEOPLE, YOUNGER AMERICANS SAYING THEY ARE NOT PLANNING TO HAVE KIDS BECAUSE IT'S TOO EXPENSIVE. THAT'S AMAZING IN SOME WAYS WHEN YOU THINK OF THIS LANDSCAPE WE ARE IN. THAT IS A RIGHT PEOPLE FEEL THEY HAVE, TO HAVE A CHILD AND PEOPLE SAY I CAN'T AFFORD TO DO IT. >> THEY ARE ALSO EXTENDING WHEN THEY HAVE A CHILD, CHILDREN ARE EXPENSIVE BUT AS I TOLD MY STUDENTS. I'M HONEST WITH THEM. I WISH I HAD MY KIDS TEN YEARS EARLIER. FAMILY IS EVERYTHING AND I URGE THEM, IT'S NOT ABOUT MONEY. IT'S ABOUT YOUR FUTURE. I NEVER THOUGHT THAT WAY. I WAITED UNTIL I WAS 36 BEFORE I GOT MARRIED. THAT WAS A MISTAKE AND I REALIZE I LOVE MY KIDS BUT WISH I HAD MORE TIME WITH THE MATTER YOUNGER AGE. ANYBODY LISTENING TO THIS FORGET MONEY WHEN IT COMES TO KIDS, FIND SOMEBODY REALLY LIKE YOU CAN LIVE WITH THE REST OF YOUR LIFE, THE WORST THING FOR MONEY IS GETTING DIVORCED. HALF OF MARRIAGES IN AMERICA FAIL NOT BECAUSE OF INFIDELITY, BECAUSE OF FINANCIAL STRESS. I FEEL LIKE I AM A MARRIAGE COUNSELOR NOW. I GET MARRIED SOONER, HAVE MORE KIDS. BRIAN: I NEVER THOUGHT I WOULD HEAR KEVIN O'LEARY SAY FORGET ABOUT MONEY. THAT MIG

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