Kevin O'Leary: I've never seen a candidate who doesn't do live interviews with the press

DAVID: THEY MAY HIT WITH THE WEALTH TAX IF KAMALA KAMALA HASR WAY. FOR MORE BRING IN KEVIN O'LEARY, CHAIRMAN OF O'LEARY INVESTORS AND "SHARK TANK" INVESTOR. KEVIN, YOU'RE NON-POLITICAL. YOU WANT COMMON SENSE TO PREVAIL NO MATTER WHAT PARTY, IF YOU THINK LIKE A DEMOCRAT, YOU THINK THE SOLUTION TO THAT PROBLEM IS WHAT? MORE GOVERNMENT GOVERNMENT SPENDING. KAMALA HARRIS CAME OUT WITH HER HOUSING PLAN, ONE OF THEM. ONE OF THEM INCLUDES PRICE CONTROLS FOR PEOPLE WHO HAVE RENTAL PROPERTY BUT $25,000 FOR NEW HOMEBUYERS, HOW DO YOU THINK THAT WOULD AFFECT THE HOUSING MARKET? >> WELL, I'M IN THE REAL ESTATE MARKET. I'M PRETTY FAMILIAR WITH WHAT'S GOING ON THERE. I WANTED TO ADD ONE ELEMENT TO THIS. I HAVE OVER 54 PORTFOLIO COMPANIES. PRETTY WELL SPLIT DOWN THE MIDDLE IN TERMS OF MEN AND WOMEN, CEOs. SOME ARE DEMOCRATS, SOME ARE REPUBLICANS. WE NEED POLICY. WHAT WE PURSUE IS TO UNDERSTAND POLICY TO MAKE OUR PLANS HOW WE WILL INVEST IN QUARTER TWO, QUARTER THREE, AND ONWARDS NEXT YEAR. WE'RE DESPERATE FOR POLICY. WE REALLY NEED IT. SAME THING IN THE REAL ESTATE MARKET. I NEED TO UNDERSTAND WHAT IS GOING TO CHANGE ON CAP GAINS, ON TAXATION, PARTICULARLY IMPORTANT WHEN I SYNDICATE A BILLION DOLLARS WORTH OF DEBT OR EQUITY IN A REAL ESTATE PROJECT. I'M DOING DATA CENTERS THESE DAYS. THEY'RE UP TO THEE BILLION DOLLARS FOR EACH CAMPUS. WE'RE ALL WAITING FOR POLICY. THERE IS 50-50 CHANCE HARRIS IS THE PRESIDENT. I'M OKAY WITH THAT. I NEED TO UNDERSTAND WHAT'S HER POLICY AND I HAVE NEVER SEEN A CANDIDATE IN MY LIFE THAT DOESN'T DO LIVE INTERVIEWS WITH THE PRESS. THIS IS UNPRECEDENTED, WHERE THEY WOULD ASK THOSE QUESTIONS. I'M VERY UNCOMFORTABLE ABOUT IT. I'M VERY VOCAL ABOUT IT. I'M SAYING COME OUT, COME OUT WHEREVER YOU ARE AND TALK TO THE PRESS LIVE, LIVE, LIVE. DAVID: TO GET POLICY THOUGH YOU HAVE TO ASK THE RIGHT QUESTIONS. YOU HAVE TO KNOW WHAT THE PROBLEM, THE PROBLEM WITH HOUSING. I WILL SIMPLIFY IT, CORRECT ME IF I'M WRONG, YOU KNOW A LOT MORE ABOUT IT THAN I DO, THE HOUSING PROBLEM WE HAVE IN THE UNITED STATES, THE THING THAT'S JACKING UP THE PRICES, OF COURSE INTEREST RATES ARE ANOTHER MATTER, IS SHORTAGE. WE HAVE A SHORTAGE OF SUPPLY. A LOT HAS TO DO WITH THE PANDEMIC AND OTHER THINGS BUT, IF YOU HAVE A SHORTAGE PROBLEM IN HOUSING IS THIS THE RIGHT WAY, IS THIS THE RIGHT POLICY, THIS 25,000-DOLLAR DEAL, TO DEAL WITH IT? >> NO, THAT'S BEYOND INSANE. THINK ABOUT IT. YOU HAVE A SHORTAGE. YOU THEN FLUSH MORE HELICOPTER MONEY FROM THE SKY. YOU CAUSE INFLATION BECAUSE IF YOU'RE THE SELLER OF A HOUSE AND YOU HAVE 15 BIDS, YOU KNOW THAT PERSON RECEIVED 25,000, YOU UP YOUR PRICE 25,000. THE PRICE JUST WENT UP. OF COURSE THAT IS GOING TO HAPPEN. WE HAD A SHORTAGE, NUMBER ONE, LOW INTEREST RATES, MORTGAGES WERE BELOW 4%, THEY'RE ONLY HALFWAY THROUGH THE SYSTEM. YOU HAVE MILLIONS OF PEOPLE WITH MORTGAGES 3.7, 3.8, DON'T WANT TO SELL FOR ANOTHER THREE YEARS. THEY ARE NOT SELLING. THEY DON'T WANT TO A 7.2 MORTGAGE. THE OTHER INSIDIOUS PROBLEM, CALIFORNIA IS A GOOD EXAMPLE, THE POLICY ON REGULATION, SO PUNITIVE TO SET UP A TRACK OF LAND TO BUILD HOUSING MANY PEOPLE DON'T EVEN DO IT. I DON'T EVEN INVEST IN REAL ESTATE IN CALIFORNIA OR NEW YORK. IT IS IMPOSSIBLE TO GET THE PERMITS. THE CRAZINESS BIT IT IS, IT IS HOLDING BACK PRICING. UP TO 40 TO 50% OF EMBEDDED COST IN EACH HOUSE IS REGULATORY COST GETTING THROUGH THE PROCESS. HOW INSANE IS THAT? SOMETHING HAS TO DEREGULATE THAT. THAT IS HOW YOU GET MORE SUPPLY ON THE MARKET. WE HAVE MASSIVE PROBLEMS ON SUPPLY, BUT $25,000, FREE HELICOPTER MONEY IS INSANE. THAT'S A CRAZY NOTION THAT WILL NEVER HAPPEN, NEVER HAPPEN. DAVID: HERE'S ANOTHER BIT OF INSANITY FOR YOU, ONE THING WE KNOW ABOUT PRICE CONTROLS, THEY ALWAYS CAUSE SHORTAGES BECAUSE IN A FREE MARKET PEOPLE WON'T PRODUCE FOR LESS THAN NOTHING. YOU JUST CAN DO IT. SO PRICE CONTROLS, NOW THE WAY SHE THINKS SHE WILL INCREASE RENTAL PROPERTIES IS THROUGH FEDERAL PRICE CONTROLS OF RENTAL. I MEAN, IF THAT DOESN'T CAUSE A SHORTAGE I DON'T KNOW WHAT WOULD. >> NO, THERE IS HUGE PROBLEM WITH THAT HERE IS WHAT HAPPENS TO A PRICE CONTROL BUILDING, NO CAP-EX, NO MAINTENANCE. STARTS TO FALL APART. THERE IS NO INCENTIVE FOR THE LANDOWNER OR THE PERSON WHO BUILT THE BUILDING TO EVER SPEND ANOTHER TIME ON IT. THEY JUST SLOWLY CRUMPLE. THAT SOVIET STYLE PRICING. IF YOU WENT IN THE LATE '80s, AND LOOKED INTO THE SOVIET UNION, I WAS A SOFTWARE SALESMAN THEN. I WOULD GO INTO BUILDINGS IN CONTROLLED REGIONS OF USSR CODE, CONTROLLED RENTS, TURN THE KNOB, IT WOULD FALL OFF THE DOOR. I'M NOT KIDDING. DAVID: I WAS THERE TOO. I REMEMBER. >> YOU CAN'T HAVE THIS IDEA EVER WORK IN AMERICA. CONTROLLING PRICES JUST DOESN'T WORK. IT DISTORTS MARKETS, CAUSES INFLATION, REDUCES SUPPLY AND THE CAP-EX ON BUILDINGS COLLAPSES. EVERYTHING LOOKS LIKE IT JUST WAS MADE 100 YEARS AGO AND FALLING APART. I DON'T KNOW WHERE THESE IDEAS ARE COMING FROM. THESE ARE REALLY BAD IDEAS. DAVID: KEVIN I WANT TO SQUEEZE ONE MORE IN, WHICH IS THE WEALTH TAX, TAXING UNREALIZED GAINS ON EVERYTHING. FIRST OF ALL IT HAS BEEN TRIED MORE THAN A DOZEN TIMES IN EUROPE. ALMOST ALL OF THOSE HAVE FAILED TERRIBLY. I THINK THERE IS ONLY ONE COUNTRY STILL HAS IT OUT OF MORE THAN A DOZEN. YOU'RE TAXING, YOU'RE TAXING UNREALIZED GAINS NOT ONLY ON STOCKS BUT FARMLAND, PAINTINGS, GOLD, WHATEVER YOU HAVE, NOT ONLY IS IT BAD POLICY BECAUSE IT HASN'T WORKED BUT IT ALSO INCREASES INTRUSIVE POWER OF BIG GOVERNMENT. THEY HAVE THE RIGHT TO GO INTO YOUR HOUSE, FIGURE OUT WHAT YOU HAVE, MIGHT HAVE GAINED THAT YOU HAVE TO PAY MORE TAXES ON. BIG BROTHER WRIT LARGE, NOT ONLY DOESN'T WORK BUT IT ALSO, INCREASES AN INTRUSIVE STATE WHICH MOST PEOPLE THINK IS ALREADY TOO BIG? >> OF ALL THE SUGGESTIONS I HEARD ON TAXATION I FIND THAT THE MOST OFFENSIVE BECAUSE JUST THINK ABOUT AMERICA. 62% OF JOBS ARE CREATED BY MY PEOPLE, SMALL BUSINESSES THAT HAVE BETWEEN FIVE AND 500 EMPLOYEES. WE WATCHED THE VALUE OF OUR COMPANIES GO UP EACH YEAR EVEN THOUGH WE'RE STRUGGLING TO KEEP THEM GOING WITH ALL THE REGULATORY ENVIRONMENT AND ALL THE COMPETITION BUT WE DO IT. AND ALL OF A SUDDEN WE GET A TAX BILL, SAY OUR BUSINESS WENT BEING WORTH 10 MILLION TO 20 MILLION OVER FIVE YEARS. WHERE WILL I COME UP WITH 3 OR $4 MILLION CASH I DON'T HAVE AND NEVER HAD. WHEN YOU THINK PRAGMATICALLY ABOUT THESE IDEAS YOU UNDERSTAND HOW BAD THESE IDEAS. REASON OWN SHE HAS TO DO THAT ON LIVE INTERVIEW THE ELECTION IS DECIDED BY 100,000 VOTES IN SEVEN STATES. FORGET ABOUT THE 43 STATES ALREADY MADE UP THEIR MINDS. EVERYBODY WE CARE ABOUT NOW, I'M A SMALL BUSINESS OWNER, I'M RUNNING A DRY CLEANERS, YOU'RE TELLING ME I OWN $800,000 FOUR YEARS AFTER I OPEN IT I DON'T HAVE? THINK ABOUT THAT. THAT MAKES NO SENSE WHATSOEVER. THAT IS SO UN-AMERICAN. IT IS UN-AMERICAN, UN-AMERICAN. DAVID: SO WITH INTRUSIVE POWER, THE IRS IS ALREADY PRETTY INTRUSIVE. IMAGINE GIVING IT MORE POWER TO. >> AROUND YOUR HOUSE TO FIGURE OUT WHAT THEY