A financial services CEO just warned that a Kamala Harris presidency would be deadly for American business, while a Trump presidency would be an economic boon.
Howard Lutnick, CEO of financial services company Cantor Fitzgerald, presented the future scenarios for U.S. business on “Mornings with Maria,” as Fox Business reported Sept. 26. Bidenomics has already been a disaster for U.S. energy and the economy, with businesses and citizens suffering under socialist policies, but Kamala’s “crazy” plans would “crush economic growth,” Lutnick predicted.
Lutnick praised GOP candidate Donald Trump while speaking with Fox Business host Maria Bartiromo. “He will drive down the cost of energy, and he will drive down corporate taxes, which means they will build factories here, bring back farming. Tariffs will protect our farmers. Manufacturing will employ our people and energy will drive down our costs,” the CEO stated.
America has the resources it needs, and workers in need of jobs, yet Democrats seem to want manufacturing and agriculture out of America. “We have oil, we have farmland, and we have incredible people who can do our work for us,” Lutnick said. “And we're just killing them by supporting China and not putting tariffs on. It's got to end, and Donald Trump is the only person talking about this thing.” For instance, America usually exports more agricultural goods than it imports, but under the Biden-Harris administration, imports exceeded exports.
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Communist China’s regime is America’s number one enemy — our economic policies should not be benefiting them, as Dem policies do. Trump proposes a 60% tariff on Chinese goods and 10% tariffs on all imports, according to Fox Buiness, proposals Lutnick supports. On the other hand are Harris policies, which he certainly does not support:
Among the policies listed on Harris' website include quadrupling the tax on stock buybacks, imposing a 25% "minimum" tax on wealthy households and increasing taxes on capital gains and dividends for households making more than $1 million from 20% to 28%… a healthcare start-up company with a $200 million valuation would owe the government $50 million under Harris’ 25% unrealized capital gains tax.
Lutnick explained, “Kamala Harris discusses a transaction tax, putting literally a tax on the ability of American companies to raise money. Imagine doing that. That's crazy.” The impact could be massive. “But what it sounds like is a good way to make money: hey, let's just trade less stocks and we'll put a tax on it. But what happens is, it gets in the way of companies raising money to build themselves. It's how you crush economic growth,” Lutnick insisted.
He added, “You will literally kill the venture capital business. You will literally kill the innovation business in America. No venture capital, no Amazon, no Google, no Microsoft, millions of employees gone. Why? Because all they do is stare at Elon Musk's money and want to seize it. ‘Look, he's got unrealized capital gains.’”
Lutnick called out Harris’s BS. “You can't say you're trying to innovate when you're trying to destroy innovation in America. And that's what she's trying to do,” he stated.
Trump’s record on taxes, however, is praiseworthy, according to Lutnick. “The key save of America for COVID was that Donald Trump lowered the corporate tax rate, so all the American companies who made money overseas, who left it overseas because they didn't want to pay tax, can now bring it back,” Lutnick said. “And he brought back trillions. And that was amazing for America.”
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