Shark Tank star Kevin O’Leary said Monday on Fox News Channel’s “Jesse Watters Primetime” that Vice President Kamala Harris’ economic plan to pass a federal ban on price gouging was “not America.”
O’Leary said, “Price fixing, we tried that in the seventies. That is beyond crazy. Can you imagine an America where there is a ministry of pricing for groceries that tells a farmer what an apple can be sold for and what you can buy it for? I mean, that is a horror film on Netflix no one has even written the script for it. That is not America.”
He continued. “Price-fixing was tried in Venezuela, Cuba, North Korea, USSR in the late eighties. It just reduces the supply like crazy. It’s a really bad idea.”
O’Leary added, “When you talk about price-fixing groceries, you’re going to have to explain how you are going to do that. And I think that is what may fall down. I really need these policies and these ideas of which for example, $25,000 to an individual to buy a home in a constrained market? I’m a real estate guy that is beyond insane. The amount of inflation that would create, all of that capital that would go to the seller.”
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