Ramaswamy’s SHOCKING Prediction On Harris TAXES!

Entrepreneur Vivek Ramaswamy issued a warning on Thursday, stating that Vice President Kamala Harris’s tax proposals could potentially lead to another Great Depression if they are put into effect.

During a Trump campaign event, Ramaswamy explained that a tax on unrealized capital gains could create a “downward spiral in asset prices,” which might plunge the economy into a depression. Harris has supported the idea of taxing unrealized capital gains, along with other tax measures, as part of the recent Biden-Harris administration budget proposal submitted to Congress.

This type of tax would require Americans who own assets like stocks, real estate, businesses, and other property to pay taxes on the increase in value of these assets, even if they haven’t been sold to realize a profit. Ramaswamy argued that such a tax could compel investors and property owners to sell their assets prematurely, potentially causing a collapse in asset prices.

“You don’t want to sell, but you’re forced to sell because you have to pay the tax out of pocket. But it turns out you won’t be the only person required to do that. Somebody else will be required to do that, too, but they’ll have to do it at a lower price because you already sold, and your sale drove down the price of the asset,” Ramaswamy said. “And then when the next person does it, that triggers down the price of the asset further. But the guy sitting next to him has to sell that asset to pay his taxes. That is how you trigger what you call a downward spiral in asset prices. It’s the best formula for triggering a second Great Depression, if we ever have one.”

The former Republican presidential candidate emphasized that those most likely to be harmed by a collapse in asset prices would be less-wealthy investors who lack sufficient liquid assets, like cash, to cover the taxes on their unrealized capital gains.

“The reality is, you know who’s gonna be holding the bag at the end of it? The people who don’t hold liquid assets,” Ramaswamy said. “Most people who are wealthier [are] well-advised enough to know that they [need to] hold a significant portion of their assets in liquid holdings. But think about that entrepreneur who started a small business, a barbershop, a restaurant owner who might be having early success but needs to reinvest in their business to grow it. They don’t have the cash to pay it because they’re all in on their business. They’re the ones who are ultimately going to actually have to pay the price.”

The entrepreneur and venture capitalist argued that Harris’s economic plans would essentially continue President Joe Biden’s policies, which have, according to one estimate, burdened the average American with an additional $47,000 in regulatory costs over their lifetime. Ramaswamy noted that Harris’s policies are influenced by Democratic hardliners like Senators Bernie Sanders of Vermont and Elizabeth Warren of Massachusetts.

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