Kevin O'Leary, investor from "Shark Tank," believes Vice President Kamala Harris' economic agenda could "destroy" the U.S. economy.
O'Leary shared that he's been in talks with Harris' advisers to understand what's happening behind the scenes. He claims they’ve reassured him not to "worry" about certain policies being passed.
"We're talking directly to her advisers," O'Leary said on "Varney & Co." "I won’t name them, but I’ve been doing this for the past week."
He expressed concern about the idea of taxing unrealized capital gains. According to O'Leary, it could devastate the economy and force investors to pull out. But he was told, “Don’t worry, Congress won’t pass that. She just needs to say it to keep her base happy.”
O'Leary pointed to other proposals like Harris' student loan plan and federal price gouging ban on groceries. He said her advisers assured him these policies won't pass either.
"When I asked about things like student loans or controlling prices on goods, they said, 'Don’t worry, that won’t happen. Congress will block it,'" O'Leary shared. His frustration is that Harris isn’t saying this herself.
On a different segment, billionaire John Paulson said he’d pull his investments if Harris wins, moving to cash and gold. O'Leary suggested this shows investors are anxious about the 2024 election.
He wrapped up his thoughts saying, "These policymakers tell me to 'just be happy,' but I want real policy. And I think the rest of the market does, too."