On Friday’s broadcast of the Fox News Channel’s “Your World,” Harris-Walz Campaign Senior National Spokesman Ian Sams argued that 2024 Democratic presidential candidate Vice President Kamala Harris has proposed increasing capital gains taxes so there’s “an incentive so that people can continue to invest in the entrepreneurship that makes this country great.” And responded to charges that hiking the rate will discourage investment by stating that “I thought maybe people would say, well, President Biden proposed going all the way up to 40% and she’s proposing going to 28%.”
Sams said, [relevant remarks begin around 12:20] “[Y]ou have a situation where President Biden proposed increasing the top capital gains tax rate all the way up to about 40%. The Vice President thinks that’s a little too high. She’s proposed it being at 28% as well, so that we continue to have the ability for our tax code to reward investment in entrepreneurs and small businesses across this country.”
He added, “[W]e are actually implanting a system that does…ensure tax fairness, while, also, like I said on capital gains, having an incentive so that people can continue to invest in the entrepreneurship that makes this country great. And so, she is going to continue talking about that.”
Host Neil Cavuto then cut in to say, “But if you keep raising that capital gains tax, they’re going to be less inclined to take those investments.”
Sams responded, “Here I am, Neil, on Fox News, I thought maybe people would say, well, President Biden proposed going all the way up to 40% and she’s proposing going to 28%. I think that, again, we have to understand that this is someone who sees that we can do both, we can both have tax fairness, and we can use the tax code to incentivize the kind of investment that really does help the economy. And so, that’s the approach that she’s taking in this campaign and she’ll continue talking about that.”
Follow Ian Hanchett on Twitter @IanHanchett
