Former President Trump deserves significant praise for revitalizing the American entrepreneurial spirit and safeguarding core elements of the economy, asserted Kevin O’Leary, “Shark Tank” star, during Tuesday’s election night coverage.
“He saved entrepreneurship. He saved the entire model of the S&P 500 because taxing 20% higher was a really bad idea, and it self-corrected… This is why I’m getting on a plane tour, and I intentionally didn’t leave until tomorrow night, so I could go to Geneva, go to Abu Dhabi… and say it’s 21% corporate taxes, [that’s] 100% not going to change. That is very important for people like me that bring capital back to this country. It fixed itself, and I think that’s why America works and has worked for 200 years.”
U.S. stocks surged on Wednesday following Trump’s victory over Vice President Kamala Harris in what was one of the most contentious presidential elections in U.S. history. The Dow Jones Industrial Average spiked over 1,000 points as trading opened, building on the momentum from the pre-market session. This surge came shortly after Trump addressed his supporters in Florida early Wednesday, expressing gratitude and vowing to restore the nation’s strength.
Markets Respond Dramatically
As the stock markets reacted to Trump’s victory, bitcoin experienced a substantial increase, further boosting investor sentiment. Ahead of the GOP’s White House win, O’Leary underscored that even the Democratic Party should extend gratitude to Trump for his impact on the political landscape.
“What’s happened here is the system self-corrected,” O’Leary said as election results rolled in.
“When you try and break the American model, it fixes itself, and I think people should give [him] credit within the Democratic Party. 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.”
Encouraging a ‘Reset’ for Democrats
O’Leary suggested that Trump’s success offers Democrats an opportunity to recalibrate their approach in the coming years. He continued, “Whether you love Trump or you hate him, every Democrat owes him a ‘Thank you very much, Mr. President’.”
Throughout Harris’s campaign, O’Leary, like many business experts, voiced skepticism toward her economic strategies, including her proposal to implement price controls as a means to combat alleged “corporate price gouging.” O’Leary also took issue with the Democratic Party’s decision to back Harris after President Biden announced earlier this year that he would not seek re-election.
A Historic Presidential Comeback
Trump’s victory marks the first time a president will serve two non-consecutive terms since Grover Cleveland in the 1800s. This monumental win, as noted by prominent voices like Senator Ron Johnson, R-Wis., represents a “complete realignment” in American politics, reflecting Trump’s lasting influence on the GOP and the broader political landscape.
