NewsBusters Podcast: Kamala Ads Say I'll Cut Taxes, Trump Will Raise Them #Political
Conservative NFL football watchers had their game ruined by a Kamala Harris ad claiming she'll cut taxes for the middle class, and Trump will raise them (with tariffs). Just like she'll cut the costs of everything. None of this matches the Biden-Harris record.
One man tweeted in disgust at Harris-endorsing businessman Mark Cuban: "I just watched a Kamala ad in which she flat out said she will CUT taxes and Trump will RAISE them? Is this the kind of bald-faced lying that you support?"
MRC Business associate editor Joseph Vazquez joins the show to take Bidenomics to the woodshed. Have you heard that Harris wants to tax "unrealized gains"? Profits that haven't happened yet? What could possibly go wrong? Joseph says he would love to see the debate moderators throw this at Kamala, although no one expects it.
The new policy section of the Kamala campaign website promises, quote: “As President, she will fight to cut taxes for more than 100 million working and middle class Americans while lowering the costs of everyday needs like health care, housing, and groceries.” If you think she can lower the cost of everything, you must have slept through this presidency.
Let's stipulate that tariffs can be categorized as indirect taxes -- tariff costs can be passed on to the consumer. The Tax Foundation says Trump levied in effect $80 billion in taxes in 2018 and 2019. They estimated the annual cost to taxpayers at $625, far below what Kamala's ads claim.
But the Tax Foundation also says "The Biden administration has kept most of the Trump administration tariffs in place, and in May 2024, announced tariff hikes on an additional $18 billion of Chinese goods, including semiconductors and electric vehicles, for an additional tax increase of $3.6 billion." So how does Kamala pose as the enemy of high tariffs now?
Enjoy the podcast below, or wherever you listen to podcasts.
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