Kevin O'Leary Calls Kamala Harris' Economic Plans 'Too Crazy' – But Wants To Ask Her These 3 Key Questions

Business figures are weighing in on candidates’ economic proposals as the elections draw near. Among them is "Shark Tank" investor Kevin O'Leary, who has been vocal about his skepticism toward Vice President Kamala Harris' economic agenda.

In an interview with Fox News, O’Leary described Harris's plans as “too crazy” while laying out a series of questions he would ask her if he had the chance to interview her.

"I need answers," he said. His concerns focused on three specific policy areas.

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At the top of O’Leary's list is Harris’ support for increasing the corporate tax rate to 28%. O'Leary questioned the rationale behind the hike in an era of global competition where multinational corporations can easily shift operations to countries with more favorable tax regimes.

"Explain to me, why is going up to a 28% corporate tax rate, in addition to state taxes, where large American headquarters are located, not going to force them offshore to Ireland?" O’Leary asked.

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O'Leary is also skeptical about Harris' proposed $25,000 credit for first-time homebuyers, intended to help address the housing affordability crisis.

While the policy aims to make homeownership more accessible, O'Leary sees it as potentially inflationary, worsening the problem it seeks to solve. "Why isn't that inflationary? Please explain that to me," he said, noting the policy could drive up demand without addressing supply-side issues in the housing market.

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O'Leary, who has extensive real estate experience, criticized the plan as “a really bad idea” that could have unintended consequences for home prices. Housing affordability has been a persistent issue across the U.S., with rising home prices outpacing wage growth in many regions.

The third key issue O’Leary raised involves Harris's stance on price controls, which he argued has a well-documented history of failure. "We know with certainty that doesn't work," O'Leary said, referencing similar policies attempted in the U.S. during the 1970s and in other countries. 

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While Harris has not explicitly called for broad price controls, she recently called for a federal ban on price-gouging groceries.

For O'Leary, the central issue remains whether Harris' economic policies will foster growth. "None of the policies I've heard yet are going to be pro-GDP," he said during the interview.

Harris, who has positioned herself as an advocate for working families, has proposed various measures to address income inequality, housing affordability and corporate accountability.

However, critics like O'Leary warn that the measures could backfire, undermining the economic growth they seek to promote. 

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