During a recent interview, former President Donald Trump expressed concerns about the potential economic impact if Vice President Kamala Harris were to win the upcoming general election. Trump stated that he believes the country would face a depression similar to the one experienced in 1929 if Harris were to become president.
Trump highlighted his administration's tax cuts and warned that if Harris were to let those cuts expire, it would result in a significant tax increase for Americans. He criticized Harris' proposed tax policies, including a 28% tax on long-term capital gains for households earning over $1 million annually.
In response to questions about unrealized capital gains taxes, Trump expressed skepticism and suggested that such measures could drive wealthy individuals and corporations to leave the United States.
Trump also pointed out Harris' father's background as a Marxist economist, implying that her economic policies may be influenced by Marxist ideology. He dismissed Harris' plans to address inflation through price controls, arguing that such measures historically lead to product shortages and inflation.
Overall, Trump painted a bleak picture of the economic future under a Harris presidency, warning of a potential return to a 1929-style depression if she were to be elected.
