Entrepreneur warns a Kamala Harris presidency would hurt lower to middle-class the most

As the 2024 election race heats up, and as Kamala Harris steps into the ring, small businesses are starting to examine what things could like under her presidency — with one entrepreneur warning her administration's fiscal policies will hurt lower to middle-class Americans the most.

Entrepreneur Shawn Meaike sounded off during an interview on "The Big Money Show," Wednesday, explaining what the situation could look like with the current Vice President and Democratic presidential candidate at the helm.

"What people are not understanding is what… significant and actually ridiculous tax hike proposals mean for all of us, right?" He said. "When you start looking at these businesses now... it sounds great to say, I'm going to tax the 1% or get this, or I'm going to get only these individuals."

POSSIBLE KAMALA HARRIS PRESIDENCY SHOULD CONCERN SMALL BUSINESS OWNERS, ENTREPRENEUR SAYS

The entrepreneur, who founded and runs the life insurance agency, Family First Life (FFL), explained how the possible Harris economy and tax proposals would affect small businesses and threaten the American dream.

"At the end of the day, all these restaurants, all these business owners, myself, profit-sharing, what we're doing... we can't do." He continued, "at the end of the day, the American dream… I don't want to say the American dream is dead — that's probably a little bit over the top — but what I can tell you is it's going to make it really difficult to navigate what you want to do with employees, for employees."

Meaike recounted a recent conversation he had during which he discussed what the potential ramifications could be.

"I was with a gentleman yesterday. He owns multiple restaurants. I said, ‘what are you doing to stay alive?’ What do they do? Cut staff. Cut resources. The valets up the street are laid off. The servers are laid off. The guys and girls who deliver the food are laid off."

"So it's a trickle-down theory that's pretty significantly scary for me," he added.

The entrepreneur subsequently discussed the impact of wages and inflation, sending a warning to Americans should Trump not see a second term as president.

"If we don't have a Trump presidency, I think we continue to go the wrong way," he warned.

Meaike pointed to how his own family faced a difficult financial situation — noting his mother's struggles with inflation and job losses — remarking that "the most vulnerable people" are at risk of getting hurt.

"At the end of the day, when you start talking about [how] McDonald's is trying to find a way to get people to come in, McDonald's is saying, 'it's hard for you to come in and afford a meal'… what do people do when they're in a bad spot? They do things they wouldn't necessarily do."

The entrepreneur continued, expressing his concern for lower and middle-class income families if the current trajectory does not change. 

"I think that financially, on top of the fact that it's an unsafe place right now, and you take that into consideration for insurance and everything else and small business owners are trying to do." He continued, "if we don't adjust this, the lower-class and middle-class income families are the ones going to be hurt by far the worst by this, and they're allegedly the ones [that are] going to be protected by a Harris presidency." 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

He also weighed in on Donald Trump choosing JD Vance as his running mate, remarking that he loved the pick, Vance's story and "the fact that he's a businessman." 

Additionally, he told "The Big Money Show" he's excited about Trump and Vance's approach to money.

"I don't know why I want the government to have more of my money. I want me and my family to have more of my money. I trust me and what I do with my money more than I trust the federal government."

Meaike added that he was a small business owner during Trump's presidency, imploring other small business owners — as well as employees — to recall their financial situation during his administration.

"What we should be focused on is how much better was the employee's life," he concluded.