On Friday's episode of Fox News Channel's “Your World,” Ian Sams, senior national spokesman for the Harris-Waltz campaign, argued that Vice President Kamala Harris, a 2024 Democratic presidential candidate, proposed raising the capital gains tax to provide “an incentive for people to continue to invest in the entrepreneurial spirit that makes this country great.” In response to accusations that raising the tax rate would discourage investment, Sams said, “I thought people might say, 'President Biden proposed raising it to 40 percent, and she's proposing to go down to 28 percent.'”
Sams said, [relevant remarks begin around 12:20] “[Y]President Biden has proposed raising the top capital gains tax rate to around 40 percent. The Vice President thinks that's a little bit too high. She proposed keeping the rate at 28 percent so that the tax system continues to have the ability to reward investment for entrepreneurs and small businesses across this country.”
He added:[W]We're actually putting in place a system that ensures that our tax system is fair, but at the same time, as she mentioned about capital gains, gives incentives so that people can continue to invest in the entrepreneurialism that makes this country great. So she's going to continue to talk about that.”
Then host Neil Cavuto interjected: “But if you keep raising capital gains taxes, investors will be less willing to accept those investments.”
Sams responded, “Neil, I'm on Fox News, and I thought people might say, President Biden proposed to raise it to 40 percent, and she's proposing to raise it to 28 percent. And again, we have to understand that she's someone who thinks she can do both, that she can have tax fairness, and that she can use the tax system to encourage investments that will really help the economy. So that's the approach that she's taking in this campaign, and she's going to continue to talk about that.”
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