Tilman Fertitta, the billionaire owner of the NBA’s Houston Rockets and many other businesses, predicted that if Democrats’ tax proposals pass in the current $3.5 trillion reconciliation bill under consideration, the economic system under when he and other Americans thrive will be slowly destroyed.
In an interview with Fox News Monday evening, Fertitta explained that should those tax hikes as well as another one on the super-wealthy like him pass, it will ultimately lead to fewer jobs created.
The NBA owner, who has some 4,000 openings currently across his various businesses, said a so-called “billionaires tax” will “make me not build as much because I won’t have the ability that creates so many more jobs.”
“And then you’re paying so many different taxes,” he continued. “Every employee pays payroll taxes, all your sales taxes, all the taxes they pay. It’s truly a mistake,” the businessman said.
“It’s a social way of not doing things in this country. It’s the European way. Our great capitalism will slowly come to an end. And do I believe in taxes to make our country great? Absolutely. I don’t think a balance sheet billionaires tax is the way to do it. Do it on income. You can’t do it on balance sheets. It’ll never be right.”
He was also asked if American consumerism is to blame for the current supply chain crisis.
“No, we’re really just trying to live like we always lived. And it’s really hard to believe that in 2021, with all the sophistication of products coming into America differently than they used to 30 and 40 years ago, that we’re suffering this issue, but it’s an international problem trying to get it all here,” he told host Brian Kilmeade.
“And what’s crazy is, once it gets here, we can’t even unload the boats to get it into our distribution centers to get out. But it’s definitely a problem. It’s causing a huge supply and demand. So what does that do? It causes crazy inflation because that’s what’s happening right now. So we better get a hold of it quickly,” he said.
He also discussed the thousands of openings he has across his 600 properties in 36 states.
“Between the Golden Nugget casinos, all the restaurants, and all the entertainment venues. And people just don’t want to work anymore,” he said.
“So, I don’t know what happened to that part of capitalism. And I, what’s crazy, though, is our high-end businesses are the most successful, so people are getting money from somewhere,” he continued.
“But it’s just a tough time between the labor shortage and the supply shortage. So don’t get mad at your restaurant, when it’s extremely expensive right now. And the waiter has five tables instead of three. And your service isn’t quite as good. Everybody’s doing their best at all restaurants everywhere,” he added.