Houston Rockets Owner: ‘Our Great Capitalism Will Slowly Come To An End’ If Democrats Pass Tax Plan

Tilman Fertitta, the owner of the Houston Rockets and several other businesses, warned during an interview this week that if Democrats pass a tax on unrealized capital gains that it would destroy capitalism in the United States.

Fertitta, who appeared on “Fox News Primetime” with host Brian Kilmeade, also weighed in on the supply chain crisis that is currently impacting consumers, saying that it was a contributing factor to surging inflation rates, adding, “we better get a hold of it quickly.”

Fertitta said that he has 4,000 openings across his numerous businesses, which span the restaurant and entertainment industries.

When asked about a supposed “billionaires tax,” Fertitta said that if it passes it 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. 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.”

WATCH:

Houston Rockets owner: ‘Our great Capitalism will come to an end’ if Dems pass unrealized gains tax. pic.twitter.com/ysGdn2mWHY

— Jason Rantz on KTTH Radio (@jasonrantz) October 26, 2021

TRANSCRIPT:

BRIAN KILMEADE, FOX NEWS HOST: Joining us right now Tilman Fertitta, owner of more than 600 properties in 36 states, as well as more than 80 Different Restaurant Brands. He’s the CEO of Landry’s Inc, and owner of the Houston Rockets, he understands the complexities of the supply chain crisis. Tillman, is it America’s fault for buying too much stuff?

TILMAN FERTITTA, HOUSTON ROCKETS OWNER: 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. 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.

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