Kevin O'Leary Warns $2,000 Cheques In 'Trump Accounts' Could Send Inflation Back To 9%: 'Terrible Idea'

Core Viewpoint - Kevin O'Leary warns that the proposed $2,000 "tariff dividend" checks linked to the 'Trump Accounts' initiative could exacerbate inflation, labeling it as "helicopter money" that the U.S. economy cannot afford [1][2][3] Economic Impact - O'Leary argues that injecting unearned cash into the economy could reverse progress made in controlling inflation, which peaked at 9% during the pandemic due to similar stimulus measures [2][3] - He emphasizes the ongoing financial strain on American families due to high prices for essential goods, attributing this to past policies [2][3] Policy Critique - O'Leary criticizes the funding mechanism for the proposed dividends, particularly the imposition of tariffs on goods not produced domestically, questioning the logic behind taxing items like bananas and pineapples [4] - He predicts that issues of affordability and healthcare will become central topics in the upcoming midterm elections [4] Broader Context - O'Leary's critique reflects a growing skepticism surrounding the "Invest America Act" and the associated Trump Accounts, despite significant financial commitments from figures like Michael Dell, who has pledged over $6.25 billion [5] - In contrast, Elon Musk dismisses the debate, suggesting that advancements in AI and robotics will eliminate scarcity, thus rendering money obsolete, a view met with skepticism by some market analysts [6]