"Shave $1.9 trillion": Shark Tank's Kevin O'Leary shares his honest opinion about the potentiality of balancing the budget

Shark Tank mentor Kevin O'Leary recently shared an Instagram clip from Fox News where he attended the Will Cain show. While in the news, Kevin O'Leary discussed Senator Johnston's plan to "balance" the budget, and for that, shaving approximately $1.9 trillion is required.

Along with that, the Shark Tank investor stated that the overall spending needs to go back to 2019, and for that, "a lot of work" needs to be done. He also talked about increasing the deficit and how it would require a "lot of work" to "get through" the beautifully complicated bill.

He captioned the video clip with:

"We're so far away from that right now. We don't even have a plan. Senator Johnson's put forward a plan to balance the budget. You have to shave $1.9 trillion. In addition, get spending back to what it was in 2019. There's a lot of work to get there."

He added:

"Then you have to get a tax bill done without that initiative because of your score of these ideas, and that'll score very low in terms of increasing the deficit. So that's gonna be very tough. This big beautiful bill is a beautifully complicated bill and it's got a lot of work to get through."

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Shark Tank's Kevin O'Leary opens up about budget on the Will Cain Show

In a recently shared Fox News video clip, Shark Tank mentor Kevin O'Leary shared his views on the budget and related aspects. The debate began when the show host, Will Cain told Mr Wonderful how income tax works for individuals who learn less than $150,000. He asked the Shark Tank mentor about how if it was "realistic" and "good" and:

"If you're not paying taxes and you are only receiving government assistance or benefits or aid, then you don't have much incentive to worry about government spending or the future of taxes," said the host.

Responding to him, the Shark Tank judge said that they have been "far away" from that and don't even have a plan. He then chimed in on how Senator Johnson had proposed a plan that would potentially balance the budget, "shaving $1.9 trillion."

Additionally, the current spending needs to go back to the same level as in 2019. For that, it demands a lot of work. Sharing more about the work, Kevin O'Leary said that there were "ways and means" to look at all that "stuff"; however, it would be "very, very tough."

Shark Tank investor added:

"This is a complicated, beautifully complicated bill. And it's got a lot of work to get through. But I don't think you take a section of income earners and say you're off the hook on taxes. I agree with you. I doubt that'll ever happen."

The video clip concluded with Kevin O'Leary sharing how it was a "complicated" yet beautifully complicated bill. Despite various challenges, he mentioned that with a "lot of work," it could be done. He also shared his views on how taking out part of "earners" income would be the way to do so. He agreed with the host host, Will Cain, and shared his stance.

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Fans can watch Shark Tank Season 16 Episodes on ABC Network and witness Kevin O'Leary investing in various unique business ventures.