"The American Dream": Shark Tank investor Kevin O'Leary discusses how "Unrealized capital gains" would destroy it

Shark Tank mentor Kevin O'Leary discussed unrealized capital gains and their effects, especially on the "American Dream." O'Leary Ventures chairman released a clip on his Instagram account on September 14, 2024, and shared his views on various policies, specifically taxing uncapitalized gains.

Kevin O'Leary commented on why people invest in the US, even if it's halfway across the globe from them. The reason for the American Dream, as he mentioned, was that people were also willing to sacrifice their lives to come to America.

However, referring to some policies, the Shark Tank mentor expressed his concerns in the Fox News interview. He stated his views in the caption of the said Instagram post:

"The American dream is the reason why half the world's wealth is invested here and why people are willing to sacrifice their lives to come here. Taxing unrealized capital gains would destroy capital formation and decimate the American dream. It would make the U.S. uncompetitive in the G20, and companies would start leaving."

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Shark Tank's Kevin O'Leary shares his views: The American Dream, unrealized capital gains, and more

During his Fox News interview, Mr. Wonderful, aka Kevin O'Leary, recalled how, for 200 years, the "American Dream" has been the country's number one export. That is why investors from various countries choose America for their business ventures.

Kevin shared some facts, such as how individuals might even "risk their lives" to enter the US.

"The number one export of America is the American Dream. It has been that way for 200 years. There's a reason half the globe's wealth is invested here, and there's a reason people risk their lives to get into Unites States, It's the American Dream," stated Shark Tank investor.

Kevin O'Leary further expressed his concerns about "taxing uncapitalized gains" and how they could "destroy" the capital formation in the country. This is why foreign individuals choose to "deploy" their capital here. He questioned it and asked whether it was a "realistic idea."

Among various effects of the uncapitalized gains, as Kevin stated, is that it would "decimate the American Dream." Both presidential candidates were on their campaigns at the time of the interview.

Hence, referring to that, the Shark Tank investor called them out and suggested that somebody should ask them about their plans associated with "taxation."

"So if that's a reality, if that's a real policy, and I wish somebody would ask both candidates what their plans are on taxation, because a 28 per cent corporate tax rate in the addition to state taxes would make America very uncompetitive in the G20, and we'd start losing companies like we did when taxes were that high."

Sharing more about how "losing" companies would affect, Mr Wonderful also recalled how pharma companies went to Ireland, along with some other businesses. He urged people to question both candidates regarding policies, as he mentioned, "policy matters."

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