Kevin O’Leary, a star of the Shark Tank show, criticized Kamala Harris economic plans in an interview on CNN, particularly her proposals for addressing the high cost of living. O’Leary claimed that Harris’s idea to outlaw grocery price gouging at the national level would duplicate failed socialist countries’ policies.
He also disregarded her housing plan to enhance affordable housing and offering assistance to first-time home buyers terming it as inflationary and impracticable.
The examination of “Kamalanomics”
Kamala Harris, vice president and presidential candidate announced her economic package which included expanding child tax credits and increasing funding for affordable housing while speaking during a rally in North Carolina. She also suggested imposing penalties on major firms for price hikes on essential commodities.
“Venezuela, Cuba, North Korea, USSR have attempted it,” O’Reilly observed with reference to Harris’s plan on price gauging. “Nope that just wouldn’t work.”
The Wall Street Journal editorial board made similar claims arguing that global history has proven that Harris’s plan is a Venezuelan style leftist populism whereby they called it “Venezuelan-style left-wing populism” as they argued against global failures of price controls
Harris’s Housing Initiative Criticized
Apart from regulating groceries prices Kevin O’Leary criticized Harris housing agenda which seeks to construct 3 million new houses and provide €20k grants to first time Buyer?
O’ Leary responded by saying “when you give £20k to someone when the market is squeezed it leads into inflation.” “For example if there are three houses for sale and everyone gets an extra £20,000 then there will be an increase in prices because there is no supply.”
Moreover, flipping homes bought in bulk by investors would be limited by legislation according to the outline.
