Kamala Harris has made several economic promises on the campaign trail, including instituting price controls, offering homebuyers $25,000, taxing unrealized capital gains, and now promising big tax

deductions to small businesses. But she's also come out in support of roughly

five trillion dollars in tax increases.

In this episode we speak with an economist about the effects these policies would have on

the U.S. economy and taxpayers.

I'm Daily Wire, editor-in-Chief John Bickley with Georgia Howe. It's

Saturday September 7th and this is an extra edition of Morning Wire. Joining us now is Thomas Savage economist at the American Institute for Economic Research.

Thomas, thanks for coming on.

Let's start big picture on Harris's proposals.

The Penn Wharton budget model analyzed them and said they will lead to lower GDP, less economic

activity, and wage reductions.

First, is that a correct assessment in your view?

Yeah, you know, while having not looked at the specific numbers,

that general trends are right on the money. A lot of what we could expect is what was going on in the current administration, which is record-breaking regulations, higher taxes, you know, all things that kill employment, that kill wage growth, and more of what's making the average

American family really feel the pinch right now. Now to get more specific on

some of her policies Harris is proposing tax deductions of up to $50,000 in startup costs for

small businesses. Right now that deduction is set at $5,000. How would that

proposal work? So that proposal like most tax credits is that people will pay money to the government and they have to jump through hurdles either to apply for a lower tax bill or get a little bit of that money back.

So it's more of a gimmick than it is actually savings.

I was reading some early estimates right out of the gate saying that it could cost up to $230 million.

And it's a gimmick to try to get small businesses excited,

whereas she's talking about raising corporate income taxes, although now it seems to be that

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