Kamala Cuts Taxes by Raising Them!

 Kamala Cuts Taxes by Raising Them! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
You know, I got to give credit where credit is due.
I really again, I did podcast yesterday talking about Kamala
Harris winning the Heisman Trophy, and you know, I'm sitting
thinking about her economic policies and how it's being played
out in the media. And I've never seen this before.

(00:38):
I really haven't. Kamala Harris is actually right now running
for president as a supply side tax cut, the supply
side tax cut individual well, at the same time, she's
going to raise taxes. Yeah, you got to think about

(00:58):
the genius behind that. She is basically raising She wants
to raise your taxes, but she's running as if she's
lowering them because she's not gonna raise them as much
as Joe Biden said he wants to raise them. The
genius behind that, actually, take a look at I mean,

(01:21):
her capital gains taxes. They're going to bring them up
to the highest level since the nineteen seventies. She's going
to be raising the rate by nearly forty percent, and
everyone is treating it like she's lowering people's taxes. I'm sorry,
there's a genius behind that and the fact that people

(01:42):
are buying into it if you actually think about it.
And I gotta go a bit of a blast from
the past here again. It's something I never forgot and
this is where I really got spooked. I really got
spooked with Barack Obama. And I'll never I'll never forget it.

(02:03):
Barack Obama. Barack Obama's running for president and he's big time.
It's primary, it's Hillary Clinton. There's a debate, debate that's
taking place, Hillary Clinton, Barack Obama, and Barack Obama. Obarack
Obama wanted to raise the capital gains rate to twenty

(02:26):
eight percent. Again again, Kamala Harris, Kamala Harris, twenty eight percent,
same rate now again. How the media is not able
to put this here? Maybe they don't want to, so
I will Okay, it was obscene just again, We'll going

(02:51):
back to it. Obama's running against Hillary. This was seen
as obscene. Are you kidding me? Twenty eight percent? Anyway,
I'm going to go through the exact exchange because I
wrote a column about it. Wrote a column about it
back in May of two thousand and eight, titling defying
economic gravity. Anyway, Charlie Gibson, moderator ABC says to Barack Obama,

(03:16):
you would favor an increase in the capital gains tax,
as a matter of fact, you said on CNBC, and
I quote, I certainly would not go above what existed
under Bill Clinton, which was twenty eight percent. It's now
fifteen percent. That's almost a doubling if you went to
twenty eight percent. But actually Bill Clinton in nineteen ninety

(03:37):
seven signed the legislation that dropped the capital gains tax
to twenty percent. Obama says, right, So, Charlie Gibson and
George Bush has taken it down to fifteen percent. Obama replies, right, So,
Charlie goes in each instance, when the rate dropped, revenues

(04:03):
from the tax increased, the government took in more money.
And in the nineteen eighties, when the tax was increased
to twenty eight percent, the revenues went down. So why
raise it at all, especially given the fact that one
hundred million people in this country own stock and would
be affected. Again, this is two thousand and eight. Obama's response, Well, Charlie,

(04:29):
what I've said is that I would look at raising
the capital gains tax for purposes of fairness. And I
heard that and I was like, wow, fairness, You're going
to raise taxes? Dude. Defense, I was like, this was
foreign to me at the time. I said, this guy's

(04:52):
this guy's a true believer. Again, thinking that the tax
code is supposed to be some sort of inch meant
of fairness, I don't know. Again, none of the media
is picked up on this shit. Because Hillary Clinton was
vehemently opposed of raising the capital gains how about somebody
get a microphone in front of her. Hey, Hillary, you

(05:14):
remember when you were debating charl Broack Obama regards the
capital gains taxes, and you disagree with him raising the
twenty eight percent, You think it's okay for Kamala to
raise the twenty eight percent. These are simple questions. These
are things that should be done that I'm doing that
nobody else is doing. But again, you have to give
it to them. You have to do right now. Kamala

(05:38):
Harris is running as a supply side tax cutter as
she's planning to raise our taxes. Hey, when you have
a nation I'm sorry people, When you have a nation
of people that.

Speaker 3 (05:55):
Are spending their entire time.

Speaker 2 (05:56):
Oh, I'm working again. Healing this from Manuscalco making fun
of fantasy football.

Speaker 3 (06:03):
I'm looking on my receivers hook up from football NFL season.
They're gonna make sure my fantasy team's okay. Or oh,
we'll scroll Instagram ol day long. What's the influencer saying
we deserve.

Speaker 2 (06:14):
Every fricking thing that's coming at us. Watchdog on Wall
Street dot Com