Photo: iStockphoto
The latest part of Biden's re-election pitch is a tax increase that would raise the capital gains tax to its highest level in over 100 years. Biden says this is part of his effort to make the rich pay their fair share, despite the fact that "the rich" already pay most of the taxes.
Shark Tank investor Kevin O'Leary told Fox News, "America is the most successful economy on earth. Two-thirds of the jobs are created by entrepreneurs who create companies. You don't wanna tax them into oblivion."
O'Leary pointed out how here in America, people and businesses flee states and cities with higher taxes to red states that are more business and economically friendly. O'Leary says that if taxes increase too much, people will do the same thing on a national scale.
O'Leary also stated that that's exactly why he left the high-tax blue state of Massachusetts for Florida.