Vice President Kamala Harris wants to raise the U.S. Corporate tax rate to 28% if she wins the presidency. Proponents of something like this, you know, I listen to what they say, and I guess they make some good points. [00:00:18] You just heard what Kamala Harris is in fact proposing. Remember that Donald Trump had cut the corporate tax rate from 35% to 21%. Kamala Harris is now proposing to increase the corporate tax rate to 28%, which I [00:00:34] have a problem with, because that's exactly what Biden said he wanted to do. And I didn't think it made any sense. When you campaigned on reversing the Trump era tax cuts for corporations and the rich, then you should reverse the Trump era tax cuts on corporations and the rich, [00:00:50] meaning you should propose increasing the tax rate to 35%, not 28%. But I'm curious, Jake, what you think about this and whether or not you think Kamala Harris, should she get elected, would even fight for 28%? Yeah. So there's a couple of different angles here. As usual. [00:01:05] Let's break it down to politics and policy. Politics is great. So she's fighting for higher tax rates for big business. Americans generally hate big business, except everyone on television who are all part of big business. Right. So yeah, you might get a couple of people even on MSNBC for climate over this, but [00:01:25] overall, it plays really well to voters. Because remember, if you don't if they don't pay the taxes, you have to pay the taxes. So I'm going to get back into that in a little bit. Okay. So the politics are excellent. But in terms of the policy Anna is totally right. So number one, it drives me crazy that Democrats make all these promises. [00:01:44] And when it's the campaign, everyone will pretend that the promises are 100% real and they're all going to happen. And then when they get into power and they don't do it, they go, oh, nobody thought that was going to happen. No, wait. I remember you telling me in the middle of the campaign that it was definitely going to happen. [00:01:59] And then you turn around and the minute you win and say, oh, it's never going to happen. So which one is it? Hey, don't scroll away, come back, come back. Because before the video continues, we just want to urge you to lend your support to TYT. You power our honest reporting. You do it at t.com/team and we love you for it. [00:02:17] Look I've seen Lucy pull the ball away 2000 times. I'm not a sucker. I'm not going to go kick the ball like it's a very low chance that she'll actually do this. Biden promised to know and didn't do anything. Nothing on it. Zero. [00:02:32] Didn't even try. It was all just a political gimmick. Right now, as Kamala Harris better on it. Well, we're going to find out. But I would be surprised. And remember, guys, it was Trump brought it from 35 to 21. And even in their like promises, which they almost never deliver on. [00:02:50] They're not even saying 35. They're saying 28. So like at best they're going to bring back half of the cuts that the that the Republicans gave to corporations, which is, by the way, what would happen to our whole lifetime. Right. Republicans take 100 yards. [00:03:05] Democrats promise to bring it back 50 yards. Bring it back actually five yards. The Republicans gained 95 yards. Or in reality, corporate rule gains 95 yards. And then corporate media declares victory for the five yards that the Democrats got right. So that is very likely what's going to happen here. [00:03:20] But nevertheless, if they do implement it, I also want to get into how much of a difference it would make. So listen, I also want to just be clear on why we are so cynical about the because we're correct. - And we believe, in fact, because. - We have recent history [00:03:35] to inform what we can predict about what the corporate Democrats are going to do. And let's let's just keep it real. Kamala Harris is a corporate Democrat, and she is funded by a lot of billionaire donors. We've been talking about it on the show. [00:03:52] Those donors are not giving her money to the tune of hundreds of millions of dollars. - To the tune of. - Billions for their own health. Like they're doing it for a favor in return. And I don't want anybody to get it twisted. Look, guys, Kamala Harris has been better than the average establishment [00:04:09] Democrat in campaigning, right? And she picked Tim Walz, and she's got an economically populist position. I don't want you to get depressed over it or lose hope or any thing like that. This is as good as you're going to get for the moment being. Okay, so God bless. I got smart politics. [00:04:26] And because she picked Walz and she's doing this strategy, there's even some small chance that she'll do it. She'll do some portion of it that she'll fight for it. - By the way. - If they. - Genuinely. - Fought for it. And they tried their best and they lost. I could live with that. I just want them to try really, really hard and not fake it. [00:04:44] So I don't want you to get depressed over it. But at the same time, I don't want you to have false hope that she's going to come in and be some savior who does everything she promised. When that is not the track record of the Democratic Party. And obviously the Republican Party is way worse. They're saying no. [00:04:59] In fact, Trump literally is saying, I'm going to cut it from 21 to 15, and the Republicans are good at getting those through. Trump got the last giant tax cut for corporations through. So the Republicans will march us all the way backwards but don't get too high on oh my God, they're going to actually do these things [00:05:16] that they're promising in the campaign. They almost never do. Thanks for watching The Young Turks really appreciate it. Another way to show support is through YouTube memberships. 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