Kevin O’Leary is an internationally recognized leader and pundit in business and investing. In a few recent media appearances, he has claimed that blue states like Massachusetts, New York, California and others have become uninvestable.
What he means by that is that it is pointless to start a company in these states because they punish success through excessive taxes and punitive regulations. He called out AOC and Elizabeth Warren by name.
He offered concrete examples of companies he has moved to states like South Dakota and other countries.
Business Tycoon Criticizes Democrat-Run States: ‘They Are Punishing People Who Are Successful’
Investor and Shark Tank star Kevin O’Leary is ready to take on any Democrat in a debate claiming that the party is ruining the country: “sorry, don’t shoot the messenger. Just telling you the way it is.”
During an interview with CNN, O’Leary said he no longer puts his money into Democrat-led states because they are “uninvestable” and “punishing people if they’re successful.”
“I don’t put companies here in New York anymore, or in Massachusetts, or in New Jersey, or in California. Those states are uninvestable. The policy here is insane; the taxes are too high,” O’Leary explained, adding, “the regulatory environment is punitive. I had a project in Upstate New York behind the grid in Niagara Falls for electricity — a global data center we were building. Eventually, it got so bad with the politicians in the local region and the state policy we moved it to Norway and all the jobs.”
O’Leary recalled a recent debate with socialist-leaning Sen. Elizabeth Warren (D-Mass), telling her that her state is handing out hefty consequences to successful people by overtaxing them.
“I say, ‘look, senator, we’ve got to move the companies out of your state because you are not investable anymore. You are punishing people if they are successful, you overtax them, you hit them with a super tax. New Jersey, what a mess! New York, uninvestable,” he told the Democratic Senator.
Here’s an appearance he made on CNN:
How strong is the job market really? The number of first-time claims for unemployment benefits fell to 190,000 last week.@kevinolearytv is here to discuss pic.twitter.com/DgkfJtZNpn
— CNN This Morning (@CNNThisMorning) March 3, 2023
He made a similar point while speaking to Tucker Carlson:
Kevin O’Leary on blue America: “This competition of states is beginning to occur. There are go-to states and no go states. New York, New Jersey, Massachusetts, California. You cannot invest in those places. They are no longer investable.”
Time to build the red state economy. pic.twitter.com/yeezK7xryO
— New Founding (@NewFoundingOrg) February 25, 2023
What happens five years from now when more companies have moved out of these blue states for all the reasons O’Leary lists? What happens when all the money is gone and there is no tax funding for all the social programs that Democrats love?