Newt Gingrich: Kamala’s economic plan is ‘crazy’

Published: Aug 22, 2024 Duration: 00:04:07 Category: News & Politics

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>> Sean: THAT WAS THE NATIONAL ANTHEM. DIXIE CHICKS. I THINK THEY HAVE A NEW NAME. WE GO BACK TO NEWT GINGRICH. SO KAMALA'S CAMPAIGN IS NO INTERVIEWS, NO GAGGLES, NO PRESS CONFERENCES AT ALL AND APPARENTLY AFTER THE PRICE GAUGING -- PRICE GOUGING SPEECH SHE'S NOW BACKING OFF THAT WHAT THEY DID AN OUNCE THERE WERE TIMES WE WOULD GET MORE OF THE DETAILS, THEY WANT TO RAISE THE CORPORATE RATE, THEY WANT TO RAISE $5 TRILLION IN NEW TAXES. I WILL GO INTO THE SPECIFICS LATER. THE CORPORATE TAX 21 TO 28, QUADRUPLE THE TAX ON STOCK BUYBACKS. DOUBLE THE GLOBAL MINIMUM TAX FROM TEN TO 20 PERCENT. THAT WOULD TAKE AWAY AMERICA'S COMPETITIVENESS, RAISE THE TOP INCOME TAX RATE, RAISE THE CORPORATE MINIMUM TAX FROM 15 TO 21, RAISE THE CAPITAL GAINS TAX, AT THIS. CAPITAL GAINS 24 TO 43.5 PERCENT AND THE FIRST EVER TAX ON REALIZ CAPITAL GAINS AT 25 PERCENT. THAT WOULD BE -- THAT WOULD MAKE AMERICA THE LEAST ATTRACTIVE INVESTMENT COUNTRY IN THE ENTIRE WORLD. IT WOULD BE A DISTRACTION OF OUR CAPITAL SYSTEM. ARE THEY SERIOUS ABOUT THIS BECAUSE I CAN'T BELIEVE THEY PUT IN WRITING? >> I WAS SURPRISED. I THOUGHT THE STRATEGY WAS TO BE ALL PERSONALITY, NO POLICY PUTTING IT THROUGH THE ELECTION WITHOUT ADMITTING HOW RADICAL THEY WERE. THAT SPEECH LAST WEEK IN RALEIGH WHERE SHE OUTLINED HER ECONOMIC PLAN WAS CRAZY. THAT WAS SO FAR TO THE LEFT OF BERNIE SANDERS THAT GORBACHEV AND RUSSIA WOULD'VE THOUGHT IT WAS A RADICAL SPEECH P. OR YOU NEED TO UNDERSTAND, H. WHEN HE D CAPITAL GAINS MEANS THEORETICALLY IF YOUR HOUSE GOES UP IN PRICE AND VALUE, THE GOVERNMENT CAN STEP IN AND SAY GIVE ME THE MONEY. IF YOU DON'T HAVE THE MONEY THE GOVERNMENT CAN STEP IN AND SAY GIVE ME THE HOUSE. IT'S THE MOST CRAZY TAX STRUCTURE WE HAVE EVER SEEN. AND MAKES VENEZUELA LOOK NORMAL. AND MAKES RUSSIA LOOK NORMAL AND I REALLY WONDER IF THEY ARE RIGHT ABOUT THIS IN THE NEAR FUTURE, WHO IS SITTING IN THE ROOM? HOW DO THEY -- UNLESS THEY WERE DOING A LOT OF DRUGS, HOW DID THEY COME UP WITH THIS? IT IS SO CRAZY, SO UNSUSTAINABLE NO SERIOUS ADULT COULD'VE COME UP WITH THIS PROGRAM. >> Sean: MAYBE IT'S INCREMENTAL OF WHAT SHE REALLY WANTS WHICH IS WHAT SHE COSPONSORED, THE GREEN NEW DEAL. $93 TRILLION, CRADLE-TO-GRAVE, WOMB TO THE TOMB, MEDICARE FOR ALL. NO PRIVATE HEALTH INSURANCE. THE MEDIAS MOB AS -- HAS A CANORA TO ALL OF THIS AND MAYBE THIS IS THEIR FIRST STEP NO? >> I DON'T CARE WHAT THE NEW YORK TIMES AND THE WASHINGTON POST COVERS. IF YOU THREATEN PEOPLE WITH A 2S IT COUNT FOR FURNITURE OR YOUR CAR OR YOUR HOUSE, YOUR FAMILY FARM? THAT'S ANNUALLY. HOW ARE THEY GOING TO DETECT IT? ARE YOU GOING TO FILL OUT A FORM? ARE THEY GOING TO FILL OUT A FORM AND REACH IN AND SAY GIVE ME THE MONEY OR WE ARE GOING TO SEIZE YOUR PROPERTY. THIS IS TRULY, EVERY WANTS IN A WHILE THE MASK COMES OFF AND YOU REALIZE YOU'RE DEALING WITH SOMEBODY WHO'S CRAZY AND YOU HAVE WITH WALZ THE MOST RADICAL GOVERNOR IN THE COUNTRY. FAR TO THE LEFT OF BERNIE SANDERS AND YOU HAVE WITH HARRIS A SAN FRANCISCO RADICAL AND NOW WE ARE GOING T

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