Former President Donald Trump blasted Vice President Kamala Harris at a town hall for proposing potentially devastating taxes and price controls.
Trump sounded the alarm over Harris’ proposals on price-fixing and taxing unrealized gains during a Sept. 4 town hall with Fox News host Sean Hannity. Trump warned that Harris would not only reverse his tax cuts and bring about the “biggest tax increase in history” but would also be responsible for a “1929-style depression.”
Hannity played a montage of legacy news outlets’ coverage of Harris’ past statements on economic issues, including a radical statement against fracking. The former president responded by going after Harris' current agenda, saying that only Marxists like Kamala Harris’ “Marxist teacher of economics” father would support her radical idea of taxing unrealized capital gains.
Trump said that if Harris enacted her proposal to tax unrealized gains Americans should “go out and open an appraisal company because you’re going to make a fortune, that’s about the only group that’s gonna make it, and accountants.” Trump added that taxing unrealized capital gains, “is the craziest idea and remember there’s very rich people and big international corporations, they don't have to stay in the United States and they will be forced to leave for other countries.”
The former president also took issue with Harris’ price-fixing proposal. Hannity noted that price-fixing in the communist U.S.S.R. and Venezuela was "a disaster." Trump agreed adding that price-fixing had a several hundred-year track record of failure. The former president argued that every time price controls are tried “you end up with no product, massive inflation and you end up with the destruction of a country.”
Hannity and Trump then discussed the impact of runaway inflation on ordinary Americans. Under the Biden-Harris administration, Americans have suffered through a brutal 5.3% average monthly inflation.
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