Donald Trump is headed back to the White House after winning the election.
Now, Democrats are trying to piece together what happened.
And Kevin O’Leary caused Democrats’ minds to melt with one fact about Donald Trump.
Shark Tank star says Democrats should be thanking Donald Trump
O’Leary Ventures Chairman Kevin O’Leary – one of the stars of ABC’s Shark Tank – became one of the biggest critics of Vice President Kamala Harris’ economic proposals during the election.
He had a surprising reaction to former President Donald Trump’s victory in the election.
The Shark Tank star said that Democrats should be thanking Trump during an appearance on Fox News host.
Fox News host Bret Baier asked O’Leary how he thought the stock market was going to react to a Trump victory.
“What’s happened here is the system self-corrected,” O’Leary said. “When you try and break the American model, it fixes itself.”
He thought that Kamala’s loss should serve as a wake-up call to Democrats.
“I think people should give credit within the Democratic Party,” O’Leary continued. “Donald Trump saved them tonight, too, because they’re going to have to take a spatula to these policies and bring it back to the center over the next four years and in a way, reset.”
O’Leary criticized Kamala during the campaign for pushing Soviet-style price controls on groceries and a tax on unrealized capital gains.
He credited Trump for saving the free market system with his victory.
“He saved entrepreneurship. He saved the entire model of the S&P 500 because taxing 20% higher was a really bad idea,” O’Leary stated “And it self-corrected capital.”
Trump saved the country from crushing tax increases
Many of the tax cuts from Trump’s 2017 Tax Cuts and Jobs Act are set to expire next year.
One of the biggest tasks awaiting the incoming Trump administration is extending and adding to those tax cuts.
Kamala in the White House would have imposed punishing taxes on businesses next year.
“This is why I’m getting on a plane tomorrow. I intentionally didn’t leave till tomorrow night so I could go to Geneva, go to Abu Dhabi, go to Riyadh and say it’s 21% corporate taxes, 100%,” O’Leary explained “Not going to change. That is very important for people like me that bring capital back to this country.”
The current corporate tax rate is at 21% after the Trump tax cuts.
O’Leary told Democrats to thank Trump for saving them from the consequences of their left-wing excesses.
“It fixed itself. It fixed itself. And I think that’s why America works. It has worked for 200 years,” O’Leary said. “When it gets too crazy, it fixes itself. And whether you love Trump or you hate him, every Democrat owes him a ‘thank you very much, Mr. President.’”
It remains to be seen if Democrats will pivot to center after their latest election defeat.
The economy dodged a bullet with Trump returning to the White House next year.
Americans could look forward to more tax relief instead of getting socked with a tax increase.
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