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From Fox Business: With multiple reports confirming speculation that Vice President Kamala Harris will back President Biden’s tax hike plan, reactions have started pouring in from prominent figures in political and economic circles.
“It would be devastating to the economy,” former CKE Restaurants CEO Andy Puzder said Thursday on “The Evening Edit.”
“You’re going to give up revenue, you’re going to lose companies. We’re going to lose business,” he continued.
“You need to understand, a 25% increase in unrealized capital gains means, theoretically at least, if your house goes up in price, in value, the government can step in and say: give me the money,” Fox News contributor and former House Speaker Newt Gingrich said during the last night of the Democratic National Convention on “Hannity.”
Gingrich warned that with Harris’s plan, “if you don’t have the money, the government can step in and say: give me the house.”
Fox Business pointed to reports from The Wall Street Journal and The New York Times, which both said that Harris supports the tax increases put forth by Biden in his recent budget proposal. “This, according to Harris’ campaign, includes a 25% tax on unrealized capital gains for individuals with more than $100 million in wealth; and an increased corporate tax rate between 21% and 28%,” the report states.
Grant Cardone posted an alarming warning about Harris’s plan:
Real Estate Guy breaks down effect of Kamala Harris Capital Gains Tax Plan…… (please repost)
– Capital Gains Tax will inflate homes by 50% overnight.
– It will send USA into a long recession …
– Rich people will own everything.Kamala Harris plan will destroy the American… pic.twitter.com/YuDa7hzJxn
— Grant Cardone (@GrantCardone) August 23, 2024
But no expert laid out the dangers of Harris’s tax plan as well as DMLNewsApp and TeamDML.com founder Dennis Michael Lynch.
DML sounded the alarm about Harris’s plan on his podcast Friday morning, and it’s one every American voter needs to see.
WATCH BELOW:
Kamala sounded like Obama last nite. I rec’d lots of comments today about my podcast & explanation of what’s next if she wins; what her tax plan causes, &how immigration is a key. Peep said I should post it. I cut it down to 30min, I’m told it’s a must watch. Up to you. pic.twitter.com/eEI9L1vkTM
— Dennis Michael Lynch (@TrustDML) August 23, 2024
The Dennis Michael Lynch Podcast is available below, with the most recent on top. Never miss an episode. Subscribe to the show by downloading The DML News App or go to Apple Podcasts.
