Former President Donald Trump declared during his Fox News town hall on Wednesday that the U.S. will fall into an economic depression if Vice President Kamala Harris wins the general election on Nov. 5.
“This country will end up in a depression if she becomes president. Like 1929, this will be a 1929 depression. She has no idea what the hell she’s doing,” Trump said from the New Holland Arena in Harrisburg, Pennsylvania.
“I gave you the biggest tax cuts in the history of our country. If you let them. If you let the Trump tax cuts expire, which she wants to do, she wants to terminate them. If you do that, you will suffer the biggest tax increase in history. There’s never been a tax increase like it, on top of which she wants to add a lot of tax,” Trump argued of Harris’ economic agenda.
Trump joined Fox News’ Sean Hannity for the town hall on Wednesday evening, when he spoke about top voter concerns, including the economy and ongoing inflation woes.
Harris proposed a 28% tax on long-term capital gains on Wednesday for households pulling in an annual income of $1 million per year, which is lower than President Biden’s proposed 39.6% rate in his 2025 fiscal year budget.
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