Kevin O'Leary criticized Kamala Harris's federal ban on price gouging as un-American, stating that such interventions will lead to costs being shifted to consumers without effective monitoring.
O'Leary argued that past attempts to regulate prices resulted in shortages and hyperinflation, citing examples from the '70s in the U.S., the Soviet Union in the '80s, and Venezuela.
Harris vowed to pass legislation allowing penalties for companies exploiting crises, claiming her initiative aims to support small food businesses while enforcing rules against price gouging.
O'Leary believes that though Harris's proposal may seem appealing as populist policy, it is flawed and will ultimately fail when scrutinized by the media.
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