Call It the Modern Democratic Party: Walz Shares Harris’s Disrespect for the Economic Power of Business

Senator Sanders is hitting two for two with the Democratic ticket. Vice President Harris finally chose Governor Walz as her ticket-mate. He was the first choice of Mr. Sanders, the avowed Vermont socialist. That may be all you need to know about Mr. Walz. That makes two for two for Mr. Sanders — who strongly endorsed Ms. Harris to become the DNC standard bearer. Call it the modern Democratic Party. Just the other week, in the now infamous “White Dudes For Harris” Zoom call, Mr. Walz said, and I quote: “one person’s socialism is another person’s neighborliness.”Huh? I don’t know what that means. I’m a neighborly guy, and I have a lot of neighborly friends I get along well with, but none of them are socialists — but I digress. I will say, it’s disturbing that he wants to ban fracking, just as Ms. Harris does. He’s in favor of the Green New Deal and all the woke climate change policies, and price tags that go along with it. Just recently, Secretary Yellen put a $78 trillion price tag on that. Plus, of course, there’s a $32 trillion price tag on Medicare for All — nationalizing healthcare — supported by Mr. Sanders, Ms. Harris, and presumably Mr. Walz. And I guess that means he agrees with the Biden-Harris administration about mandating EVs, whose rare earth mineral based batteries principally come from China. Even while most American folks want to hang on to their gasoline-powered cars. Additionally, it is reported that Mr. Walz favors drivers’ licenses for illegals, which strikes me as a dangerous pathway to illegals voting.And he’s a proud defender of sanctuary cities. On economic policy, Mr. Walz is a big spender and taxer. His two-year budget passed in 2022 had a 38 percent increase in state spending and a $10 billion tax hike, according to the Committee to Unleash Prosperity Hotline. His proposed budget for 2024-2025 included major league tax hikes on successful earners, capital gains, and dividends.Importantly, the state of Minnesota has a 9.8 percent corporate tax rate, which is the highest in the nation. And it has a 10.8 percent capital gains tax — in third place just behind California and New York.So, it seems that Mr. Walz has the same disrespect for the economic power of business that Ms. Harris does. And that leads to perhaps the most important issue of all: the recession threat.Unemployment is rising, manufacturing is falling, consumer confidence is shaky, housing is in recession, and consumer spending may be hanging on by a thread. In recent days, stock market crashes in America, Japan, and Europe are reinforcing recession fears. So, who do you trust to restore economic prosperity? It sure looks like the Democratic team wants to punish businesses with much higher tax and regulatory penalties. Even though it’s businesses who hire workers and deliver paychecks.The Republican team wants to strengthen business with lower taxes and regulations, though. My old friend and partner Jim Cramer recently said, “if you care about your paycheck, you go with Trump.” As is often the case, Jimmy Cramer has the story right. From Mr. Kudlow’s broadcast on Fox Business Network.

Call It the Modern Democratic Party: Walz Shares Harris’s Disrespect for the Economic Power of Business

Call It the Modern Democratic Party: Walz Shares Harris’s Disrespect for the Economic Power of Business

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