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

Published: Aug 23, 2024 Duration: 00:04:07 Category: People & Blogs

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kamla's campaign again it's no interviews no gaggles no press conferences at all and apparently after the price gauging as she calls it or Price ging speech she's now backing off that but they did announce New York Times I guess we'll get more of the details they want to raise the corporate rate they want to raise $5 trillion in new taxes and I'll go into the specifics later the corporate tax 21 to 28 quadruple the tax on stock BuyBacks the global minimum tax from 10 to 20% 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 get this capital gains 24 to 43.5% and the first ever tax on unrealized capital gains at 25% now that would be that would make America the least attractive investment country in the entire world it would be a destruction of our capitalist system are they serious about this because I can't believe they put it in writing well look I I was surprised I thought the Harris strategy was to be all personality no policy try to get through the election without admitting how radical they were that speech last week in where she outlined her economic plan that was crazy I mean that was so far to the left of Bernie Sanders that you know gorbachov in Russia would have thought it was a radical speech and let me just say to our audience you need to understand a 25% increase in unrealized capital gains means theoretically at least if your house goes up in price in value uh 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 I mean this would be the most crazy tax structure we have ever seen uh it makes Venezuela looks normal it makes Russia look normal and I I can't I really wonder I'm going to write about this in the near future who was sitting in the room I mean how did they cut I mean unless they were really doing a lot of drugs how did they come up with this because it is so crazy it's so unsustainable um no serious adult could have come up with this program well maybe it's incrementalism of what she really wants which is what she co-sponsored the green New Deal $93 trillion Cradle to grave womb to the tomb Medicare for all no Private health insurance again the media state run media mob has has ignored all of this and maybe this is their first step no well look you know I don't care what the New York Times and the Washington post covers if you threaten people with a 25% tax on any gain does it count for furniture does it count for your car does it count for your house your family farm I mean and that's annually so are first of all how are they going to detect it are you going to fill out a form is every American in the country going to till out of form are they going to reach in then and say give me the money or you're going to seize your property I mean this is truly uh you know every once in a while the mass comes off and you realize you're dealing with somebody who's crazy and of course you have with Waltz the most radical governor in the country far to the left of of Bernie Sanders and you have with Harris a San Francisco r and now we're begin to see what that really means all right former Speaker of the House new kinger it's great to have you as always we

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