President Biden’s State of the Union address introduces a series of measures targeting big corporations and Americans with a net worth over $100 million, triggering skepticism from Shark Tank star Kevin O’Leary.
O’Leary’s Take: “Campaign Speech” and Temporary Fodder
In an exclusive conversation with DailyMail.com, Kevin O’Leary dismisses Biden’s proposal as mere “campaign speech” that will quickly fade from public discourse.
Wealth Tax and the Threat of Inflation
O’Leary points out the lack of substance in Biden’s address, emphasizing that the proposed wealth tax won’t become law and highlighting inflation as a more pressing concern for the President’s re-election.
Overtaxing Concerns: A Warning Against Wealth Exodus
Expressing worry about potential consequences, O’Leary suggests that overtaxing billionaires could lead them to leave the country, citing examples from other nations where such measures failed.
Wealth Tax’s Track Record: Lessons from Britain and France
Referencing a report by the National Taxpayers’ Union, O’Leary argues against the efficacy of wealth taxes, citing previous attempts in Britain and France and emphasizing the risk of wealthy individuals relocating.
White House’s Tax Grab: Corporate Rate Hike and Minimum Tax Proposals
Breaking down the key elements of Biden’s tax plan, O’Leary highlights the proposed increase in corporate tax rates and introduces the new 25 percent minimum tax on Americans with over $100 million.
O’Leary’s Net Worth and Cautionary Perspective
With an estimated net worth of $400 million, O’Leary shares insights on the potential impact of wealth taxes and cautions against overlooking the contributions of top earners who already shoulder a significant tax burden.
Beyond Wealth Tax: Other Proposals in the Spotlight
Exploring additional measures outlined by the White House, including the revival of a Covid-era Child Tax Credit expansion and the plan to offer $10,000 tax credits to first-time homebuyers.
Inflation and the Voter’s Perspective
O’Leary emphasizes the significance of inflation in shaping voters’ opinions and predicts its potential impact on the upcoming elections, suggesting that people tend to vote against incumbents during periods of inflation.
O’Leary’s Final Verdict: Little to Address Inflation Concerns
Summing up his perspective, O’Leary critiques the lack of substantial measures to address inflation in Biden’s speech and anticipates a swift return to the pre-address status quo.
Share on Facebook «||»
Share on Twitter «||»
Share on Reddit «||»
Share on LinkedIn
Remembering Rosalynn Carter: Bidens and Obamas Reflect on a Trailblazing First Lady: Bidens and Obamas Pay Tribute The Bidens and Obamas have joined in paying heartfelt tributes to former First Lady Rosalynn Carter, expressing their condolences and...
Nigerians in Ukraine wont be harmed in ongoing war – Russian Ambassador to Nigeria: Russian Ambassador to Nigeria, Alexei Shebarshin, has assured the Federal Government that Nigerians won’t be harmed in the ongoing raging war between Russia and Ukraine....
Ukrainians placed their nation in the hands of a comedian, we wont take sides – Brazilian president: Brazilian President Jair Bolsonaro has refused to condemn Russian President Vladimir Putin’s invasion of Ukraine, while departing from his government’s official stance at the United...
West Ham in transfer deadline day debacle as departures of Said Benrahma and Pablo Fornals to Lyon and Real Betis failed to materialize: A Frantic Effort to Resolve Transfer Failures: West Ham found themselves in the midst of a transfer deadline day debacle as the anticipated departures of...
Dakota Wealth Management buys C2C Wealth: Dakota Wealth Management’s Recent Deal The specifics of the recent deal remain undisclosed, marking the fourth notable transaction for Dakota Wealth Management since June 1....
Former South Yorkshire Police Sergeant and PC Wife’s Pensions Decimated in Tax Avoidance Scheme Orchestrated by Celebrity Wealth Adviser Tim Levy: In a shocking revelation, a former police sergeant, Simon Nokes, and his PC wife, Sonya, share their harrowing experience of losing their pensions after being...
Senior London Tory Condemns ‘Transphobic Rhetoric’ at Party Conference: Criticism of “Transphobic Rhetoric” A senior London Conservative, Emma Best, has spoken out against her own party for what she described as a “crescendo” of...
Fiery Fundraiser: Biden Criticizes Trump, Compares Rhetoric to Nazi Germany: Biden Targets Trump at San Francisco Fundraiser President Joe Biden didn’t hold back during a fundraiser in San Francisco, criticizing Donald Trump and declaring that...
NATO Chief Rebukes Trump’s Dangerous Rhetoric, Accuses Him of Endangering Lives: Stoltenberg Condemns Trump’s Remarks NATO Secretary-General Jens Stoltenberg strongly criticizes former President Donald Trump for suggesting that Russia should invade countries failing to meet NATO...
The Cost of Dissent? Candace Owens Ousted from The Daily Wire Following Heated Rhetoric on Israel, Brigitte Macron, and Anti-Semitism Concerns: Candace Owens, a prominent conservative commentator, has officially severed ties with The Daily Wire after a period of tension with co-founder Ben Shapiro. The news...
