Fox Business host Charles Payne warned that Vice President Kamala Harris’ proposal to increase corporate taxes would cost American workers jobs during a Tuesday interview.
Harris intends to raise the corporate rate from 21% to 28%, a proposal similar to one in a March 7 White House fact sheet, NBC News reported. Payne told Fox News host Harris Faulkner that the vice president’s proposal was not motivated by sound economics.
“Juxtapose these two things: On one hand, a supermarket making 2% on profits is greedy, but the federal government hiking business taxes from 21 to 28% is needy. So, think about this for a moment, let’s put this all in perspective and you are right, if elected, I think Kamala Harris’ policies, or the ones that she actually will propose, may go further than this because she’s on record for wanting corporate taxes to be well into the 30s,” Payne said. “The problem is that the rest of the organized world, the rest of the developed world, over the last decade or so, has all come down to be competitive on a global scale.”
WATCH:
‘Something That Hurts Us’: Charles Payne Says Kamala’s Proposed Business Tax Hike Will ‘Make The Lives Of Workers Harsher’ pic.twitter.com/x4N6pCtAHo
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“This is something that hurts us and hurts our businesses and hurts our workers, right? And you have to understand that they are joined at the hip, there’s not one versus another,” Payne continued. “That’s the narrative that’s being put forth is that somehow if she can go to war with corporate America, it will make the lives of workers better. No, it’s going to make the lives of workers harsher as there will be fewer jobs. They’re joined at the hip and that’s why America catapulted to the top of the world, has the number-one economy on the entire planet as a very young nation and we would like to stay there.”
Harris proposed allowing the Federal Trade Commission to impose “harsh penalties” for “price gouging” by grocery stores during a Friday speech on economic policy in North Carolina. The Biden administration has fought the merger of the grocery store companies Kroger and Albertson’s in court.
“But here’s the real deal, all of this stuff is not steeped in economics, but steeped in the notion of yesteryears, righting the wrongs of yesteryear and that kind of thing,” Payne said. “It has nothing to do with politics and everything to do with big government going out there and fixing all of the injustices that have ever occurred in the United States.”
Since Harris and President Joe Biden took office in January 2021, prices have increased by over 20%, with the Consumer Price Index (CPI) reaching a recent high of 9% in June 2022.
“You know, right now, people are getting hammered bad, I mean, this is a really ugly time. The economic data is not even reflecting just the most of it and certainly economists are not being honest about what is going on, and they are grappling, and they are grappling with who to blame and who has the answers,” Payne said when Faulker asked why Americans would “tolerate” rough economic conditions. “What Harris has done to a degree of success so far is to separate herself from her own policies, right? The repackaging. But the more she speaks and the more she puts things out there, the more we can see that she hasn’t changed and I think that people will know, who is the author of my pain? Who put me in this position? Do I want to give them more power?”
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