“No Free Checks” Says ‘Shark Tank’ Star!

12.Aug

“No Free Checks” Says ‘Shark Tank’ Star!

A prominent investor, appearing on CNN on August 11, 2025, strongly opposed a proposal to distribute tariff-funded rebate checks to Americans, arguing instead that the windfall should be used to reduce the national debt.

At a Glance

Kevin O’Leary, known from Shark Tank, rejected tariff rebate checks in a CNN interview on August 11, 2025, calling the idea fiscally irresponsible and urging debt repayment instead.
President Trump floated the possibility of issuing small rebates from tariff revenue on July 25, 2025, though emphasizing that debt reduction remained a priority.
Senator Josh Hawley introduced related legislation dubbed the “American Worker Rebate Act” on July 28, 2025, proposing $600 per adult and child from tariff proceeds.
In June 2025, the U.S. government recorded a $27 billion budget surplus, largely due to unprecedented tariff revenue, which topped $100 billion for the first time in a fiscal year.
Supporters argue the rebates could help offset higher consumer prices caused by tariffs, particularly for lower-income households.

Political Debate Over Tariff Revenue

In late July 2025, President Trump raised the possibility of distributing small rebates to Americans using tariff revenue, noting that the government was receiving “so much money” and that a rebate for “people of a certain income level might be very nice.” However, he stressed the administration’s main goal was paying down the debt. The discussion gained traction as tariffs implemented earlier in 2025 contributed to increased costs for many consumer goods, with proponents of rebates claiming the payments could directly ease those burdens.

Watch now: Kevin O’Leary: This is the MOST important thing Trump can … · YouTube

O’Leary’s Position: Fiscal Restraint Over Rebate Cheer

On August 11, 2025, Kevin O’Leary appeared on CNN and unequivocally rejected the rebate proposal, stating, “No free checks to anybody.” He argued that government spending had been excessive and that restoring fiscal discipline by paying down the debt was the responsible path. O’Leary emphasized the importance of maintaining investor confidence and avoiding inflation or runaway borrowing, dismissing the idea that targeted checks were an effective solution to tariff-driven price increases.

Legislative Proposal and Fiscal Concerns

Senator Josh Hawley introduced the American Worker Rebate Act on July 28, 2025, which would leverage tariff revenues to send $600 per adult and child, potentially amounting to $2,400 for a family of four. The plan targets lower-income individuals and phases out at higher income levels. Supporters argue these rebates would function as a form of cost relief, returning some of the extra funds households are paying due to tariffs. However, it faces criticism for possibly increasing the deficit and adding inflationary pressure, and lacks sustained support among Republican leaders.

Fiscal Context: Surplus and Debt

June’s budget surplus of $27 billion, driven in part by record-breaking tariff revenue exceeding $100 billion, has fueled the debate. Though surplus revenue exists, many experts argue that channeling it toward long-term debt reduction or avoiding tariffs altogether would be more economically prudent than one-time rebates. Others maintain that without direct relief, the higher prices resulting from tariffs will continue to disproportionately affect lower-income households.