MSNBC host Joe Scarborough argued Wednesday that capitalists should be “worried” about former President Donald Trump consolidating power in Washington, DC.
Scarborough did not mention Vice President Kamala Harris' economic platform on Aug. 16. speech In North Carolina, she Suggested In his comments, he said he supported the Federal Trade Commission's use of “severe penalties” against grocers for “price gouging” to combat rising food prices, but instead claimed Trump would pick “winners and losers” and likened him to a corrupt “strong man.” (Related article: Charles Payne says Kamala Harris' corporate tax hike plan will “make life harder for workers”)
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Scarborough says Trump should 'worry about capitalists', ignores Kamala's price gouging suggestions pic.twitter.com/EOvSTsPsdn
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“If you believe in American capitalism, you should be worried about Donald Trump getting elected,” Scarborough told “Morning Joe” guest Donny Deutsch. “We talk about democracy all the time. We talk about democracy all the time. Madisonian democracy, because Madisonian democracy is under threat. But American capitalism is also under threat, because I grew up a conservative, and I know you're not, but what we conservatives believe in is smaller government, less concentration of power, an imperial presidency, less concentration of power in Washington, D.C.”
“Donald Trump is saying, 'I'm going to put all the power in my office. I'm going to control the Fed, I'm going to control the FCC, I'm going to control the Department of Justice, I'm going to control everything that can be controlled in the Oval Office,' and that's the opposite of Madisonian democracy,” Scarborough continued. “It's the opposite of the checks and balances that are in our Constitution, and CEOs should be worried. Entrepreneurs should be worried. Capitalists should be worried. This is what happens in corrupt countries where you have powerful people who pick winners and losers. It's when you have competition, free markets, and the invisible hand is slapped down by a dictator running the country.”
Harris would raise the corporate tax rate from 21% to 28%, which is similar to a White House proposal put forward on March 7. Fact SheetNBC News ReportedHarris also supports taxing unrealized capital gains of more than $100 million. According to To NBC News. (Related: “When I lost the Washington Post editorial board”: Karl Rove calls Harris' first policy speech a “disaster.”)
The Consumer Price Index (CPI) rose 20%. Strike It hit a recent high of 9% in June 2022 since Harris and President Joe Biden took office in January 2021. Report “Markup fluctuations are not the primary driver of inflation fluctuations during the post-pandemic recovery,” the San Francisco Federal Reserve said in a report released in May.
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