Kamala Harris unveils socialist economic plan amid rising taxes

Stuart Varney, on his show 'Varney & Co.', critiqued Vice President Kamala Harris' economic plan, asserting that it is fundamentally centered on increasing taxes. He noted that her campaign has seen a shift in personnel, with former Obama staffers attempting to reposition her as a more centrist candidate to enhance her electability. However, Varney emphasized that the core of her policy remains focused on raising various taxes, including significant hikes for high-income earners and corporations. He highlighted specific tax increases, such as raising the capital gains tax from 20% to 28% and nearly doubling the corporate tax rate from 15% to 28%. Varney warned that if Harris were to become president, her administration could lead to extensive tax and spending programs, reminiscent of the leftward shift seen in Joe Biden's policies after his election. He cautioned that despite efforts to polish her image, the influence of socialist ideologies within her campaign could result in substantial economic changes that would impact taxpayers significantly.