“Shark Tank” star and investor Kevin O’Leary said Wednesday on Fox Business Network’s “Kudlow” that Vice President Kamala Harris’ plan for an unrealized capital gains tax was “un-American.”
O’Leary said, “Of all the suggestions I’ve 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 watch 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.”
He continued, “And then all of a sudden we get a tax bill. Let’s say our business went from being worth $10 million to $20 million over five years. Where am I going to come up with three, four million dollars cash that I don’t even have, that I never had? When you think pragmatically about these you understand how bad they are.”
O’Leary added, “Look if I am a small business owner, I’m running a dry cleaners and you are telling me I owe you 800 thousand dollars 4 years after a open that I don’t have. That just makes no sense whatsoever. That’s just so un-American. It’s un-American! Un-American!”
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