After the disastrous reign of the Harris-Biden administration, you would think Harris would back off the failed economic policies, but no, she is revving them up.
When Harris proposes new ideas, they are bad, more of the same, and unwelcome. She fully supports Bidenomics and wants to continue it and make it worse.
Harris’s economic advisor, Bharat Ramamurti, appeared on CNBC’s Squawk Box, and what he said proved that point.
Co-host Joe Kernen is right of center, but fellow co-host Becky Quick is left-leaning. Quick eviscerated Harris surrogate Ramamurti for even suggesting that a tax on unrealized gains is sound policy.
Ramamurti said, “This reaction to unrealized gains is a little funny.”
The unrealized gains tax is a 25% minimum tax. It could be a home, a painting, and it’s hardcore leftist economics. This is on top of trillions in new taxes. Harris plans to spend as freely as Biden did.
She wrecked the economy so young people can’t afford to buy a home. On top of inflated prices, city home prices have gone up 5.4% in a year. Retirees can’t afford food or rent. Kamala went along with Joe Biden every step of the way and said she was part of every significant decision. Harris is still pushing Bidenomics but wants to make it even worse.
Ramamurti just made up stuff on CNBC. This is an excerpt; some were talking over one another.
Ramamurti: “I think that this reaction to unrealized gains is a little funny given that I bet that the majority of people watching right now are already paying a tax on unrealized gains. It’s called a property tax. When the value of your home goes up, you pay higher taxes even if you don’t sell your home.”
Quick: “Your value of your home never moves the way the stock moves. Also, property tax is a use tax. You’re paying for the schools; you’re paying for emergency services. Those are things that make absolute sense.”
Ramamurti: “And sure, and all of them, all the revenue that comes in from these unrealized gains taxes and the other taxes and the taxes in the Harris plan are going to go to creating what she calls more opportunity.
Kernan interjected at one point: “And it’s probably unconstitutional.”
Also, Quick didn’t mention that property is real property. Only local jurisdictions tax real property.
Biden-Harris ignored Progressive Democratic economists like Larry Summers, who warned them that their massive COVID stimulus package would spark inflation. They not only ignored them at the time, but they are also now planning more bound-to-fail progressive policies.
The inflation has decreased recently, but it’s on top of very inflated prices. She wants to spend and tax wildly, bringing inflation back like we have never seen before. Don’t listen to me; just use common sense.
Harris-Biden killed the economy, and she plans to bury it.
Watch:
CNBC: “Taxing UNREALIZED gains just doesn’t seem fair in any sense…”
Harris economic advisor Bharat Ramamurti: “This reaction to unrealized gains is a little funny.”
(Kamala’s 25% minimum tax on unrealized capital gains is just one of the trillions in tax hikes she supports) pic.twitter.com/jnGNK23ST0
— RNC Research (@RNCResearch) August 28, 2024
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