MSNBC host Joe Scarborough claimed Wednesday that capitalists should “worry” about former President Donald Trump, who he said would consolidate power in Washington, D.C.
Scarborough did not mention Vice President Kamala Harris’ August 16 economic policy speech in North Carolina, during which she proposed allowing the Federal Trade Commission (FTC) to impose “harsh penalties” for “price gouging” by grocery stores in order to address increased food prices, in his comments.
Instead, he claimed Trump would pick “winners and losers,” comparing him to corrupt “strong men.”
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“If you believe in American capitalism, you should be worried about Donald Trump being elected,” Scarborough told “Morning Joe” guest Donny Deutsch. “We always talk about democracy, we always talk about democracy, about Madisonian democracy, because Madisonian democracy is under threat. But American capitalism, also under threat. Because, I will tell you, I grew up a conservative, I know you didn’t, but what we conservatives believe is in less government, less power concentrated, the imperial presidency, less power concentrated in Washington, D.C.”
“Here you have Donald Trump saying, ‘I’m going to take all of the power into my office, I’m going to control the Fed, I’m going to control the FCC, I’m going to control the Justice Department, I’m going to control everything that I can control within the Oval Office,’ that is the antithesis of Madisonian democracy,” Scarborough continued. “It is the antithesis of checks and balances as laid out in the United States constitution and what that should do is worry CEOs. That should worry entrepreneurs. That should worry capitalists. That’s what you get in corrupt nations where you have a strong man who picks winners and losers. That’s when competition, that’s when the free market, that’s when the invisible hand is slapped by the autocrat running the state.”
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Harris intends to raise the corporate rate from 21% to 28%, a proposal similar to one in a March 7 White House fact sheet, NBC News reported. Harris also supports taxing unrealized capital gains for those worth $100 million or more, according to NBC News.
Prices increased by 20%, with the Consumer Price Index (CPI) hitting a recent high of 9% in June 2022, since Harris and President Joe Biden took office in January 2021. A report released by the Federal Reserve of San Francisco in May said that “markup fluctuations have not been a main driver of the ups and downs of inflation during the post-pandemic recovery.”
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First published by the Daily Caller News Foundation.