People are starting to focus on that corporate tax rate: Kevin O'Leary

Now, this ARC Investment CEO Kathy Wood plans to vote for Donald Trump in November, saying that he is the best candidate to handle the economy. So why are more on Wall Street rallying behind the former president? Is that it better for the economy? Let's get reaction now from O'Leary Ventures Chairman Kevin O'Leary, great to have you. Kevin. Listen, does this just come down to less taxation and less regulation? Well, you got to think about it this way. Only 12 months ago you would have never had Wall Street executives endorsing Trump. They have now understood what his policies are going to look like versus what they have already. And they're starting to make decisions exactly on that. Tax rates are matter. I mean, you heard that Trump talk, 15 to 21% add three to four for each state. You kind of get into the range of it stays at 21 to 2425 all in for US corporate tax. That's sort of middle of the road ish on competition, maybe the bottom of the second quartile, not the best, but if you go to 28 and add 4% to that, you are the most uncompetitive country in the G7. And so the Kathy Woods of the world who care about attracting capital to their funds, capital, capital expenditures, capital, private companies, they care a lot about that. And so that's probably one point that has really been an issue in the last six weeks. People are starting to focus on that corporate tax rate. They are. And also I'll tell you what the Democrats are not focusing on is Bidenomics. They use that name extensively. Then realized that the rest of the country was like, well, I'm not feeling real good about things right now. So they dropped that term, maybe too late. But you know, when you think about the Trump term before COVID hit, the the economy was humming along at A50 year high. Is that a huge argument for him with regard to the economy? I mean, he did bring, you know, a lot of prosperity in those four years. Yeah. Some of this hangover inflation, this sticky inflation in housing, protein and food and energy is because, and I think economists are starting to agree with this statement. We probably printed too much money post pandemic. Chips and Science Act, Inflation Reduction Act never reduced inflation. It's a trillion plus of printed money coming out of free helicopters in the sky. It's very inflationary and it's kind of hard to turn that spigot off now. And it's coming to roost at a time when the incumbent really doesn't want inflation on kitchen table issues. I mean, the food inflation, the 32% since pre pandemic, prices on proteins like chicken and steak, that's a killer. It's a killer because everybody sees it every day, whether you buy fast food or whether you cook it at home yourself. And of course, wage inflation is starting to shut down casual dining all over the country. It's tough out there. And that's not going to get fixed by November, unfortunately. No, you're right. You know, I was looking at one of these comments from the GOP and they put out this statement. They said the threat to capitalism from the Democrats is far more worrying than the threat to democracy from Donald Trump. Would you agree with that? Well, that's good rhetoric. But we're going to see all this happen very shortly in a policy debate, or at least we hope that in this debate that's coming up because it's going to be the most watched debate maybe in modern times. This is probably going to beat the ratings on the Trump Hillary, which I remember cancelling watching football to watch that one. And so I'm I'm getting the red carpet out. I got the popcorn, I got the invites, I've got the bar set up. We're going to have a party. I'm still waiting for my invite on that. But let's move on. Over the weekend, President Trump, he spoke to voters and said this about his pick for vice president. Take a listen and I'll get your comment in my mind. Yeah, nobody knows Who do you like, SVP you like, JD you like. Who do you guys like A lot of a lot of variants. You know what? That's just a lot of shouting. Didn't really get a whole lot out of that, Kevin, but people shouting potential VP choices at him, JD Vance, Marco Rubio, Sarah Huckabee, the list goes on. Who do you think would be a good VP choice for Donald Trump? I'm, I'm for Bergam because I think in this particular election, you think about the and Trump said this himself when he went into government the first time, his first mandate, he'd never done it before. So he made mistakes on cabinet positions. And he knows that. He's admitted it. Now you have to start thinking about who has executional skills. And so it's great to have popular politicians, but governors are generally better choices because they have mandates to run states. They're like the CEO of a state. But what I like is the track record of Bergen because they're the richest people in America now. North Dakota, which was off the map for anybody. I never knew where it was. I've been doing a lot of business there lately and I've watched what he's done and the GDP per capita on sovereign wealth, that sovereign wealth in that state, they're the richest Americans. So you really wish that Bergen would do that for every state. And I think he's a go to get it done guy. While Trump's a bombastic leader. So he could use Bergam to actually execute on mandates. Could be very, very powerful Duet, very good. We'll wait and see. Hopefully we'll find out soon enough. Kevin, thank you. I think you're coming back later in the show, but great stuff as always.