Stimulus Checks: 'Shark Tank' Star Kevin O’Leary Is Against $1,200 Payments, Here's Why

With the Nov. 3 election less than three weeks ago, America has placed its attention on the ensuing battle between Donald Trump and Joe Biden for the right to be president for the next four years. While the election has undoubtedly taken the headlines, Americans are still keeping an eye on a coronavirus relief plan, mainly when another stimulus check could come about. That, though, appears to be something that won't come to fruition until after the election.

When negotiations resume, though, Kevin O'Leary, famously known as one of the investors on Shark Tank, would rather not see another $1,200 check roll out. Instead, O'Leary said on CNBC that he would be a proponent for a weekly $400 unemployment insurance boost. This has to do with the money going into the right people's hands, workers who are industries like movie theatres or restaurants, who are unable to work because of COVID-19. He says incorporating this weekly $400 bonus over the next 14 months would be best for the economy and the country. "We don't need the $1,200 check to everybody anymore because a lot of those people have no found work again."

This tactic, he said, would counter the people who utilized the additional $600 on top of unemployment that was a part of the first stimulus package and didn't have much incentive to return to work. "There's nothing worse than someone saying I'd rather stay unemployed, the government is giving me free money," he explained. "That doesn't make sense, either."

A plan of this nature has not reportedly been discussed between policymakers. Prior to Trump calling for negotiations to come to a standstill until after the election, which instead shifted their attention to the appointment of his Supreme Court nominee, lawmakers had seemed to agree on one thing, that being the inclusion of another $1,200 check in whichever package is agreed upon. As much of America awaits more financial support, the coronavirus continues to see its numbers increase across the country. Despite the growing frustrations among Senate Democrats, including New Jersey Sen. Cory Booker, it doesn't appear that their attention will be shifted back to a relief bill until the end of the year. Meanwhile, O'Leary and the rest of his fellow sharks will be returning to the tank when its new season returns on Oct. 23.