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VICE PRESIDENT KAMALA HARRIS: So, I was raised as a middle-class kid. And I am actually the only person on this stage who has a plan that is about lifting up the middle class and working people of America. I believe in the ambition, the aspirations, the dreams of the American people. And that is why I imagine and have actually a plan to build what I call an opportunity economy. Because here’s the thing. We know that we have a shortage of homes and housing, and the cost of housing is too expensive for far too many people. We know that young families need support to raise their children. And I intend on extending a tax cut for those families of $6,000, which is the largest child tax credit that we have given in a long time. So that those young families can afford to buy a crib, buy a car seat, buy clothes for their children. My passion, one of them, is small businesses. I was actually — my mother raised my sister and me but there was a woman who helped raise us. We call her our second mother. She was a small business owner. I love our small businesses. My plan is to give a $50,000 tax deduction to start-up small businesses, knowing they are part of the backbone of America’s economy. My opponent, on the other hand, his plan is to do what he has done before, which is to provide a tax cut for billionaires and big corporations, which will result in $5 trillion to America’s deficit. My opponent has a plan that I call the Trump sales tax, which would be a 20% tax on everyday goods that you rely on to get through the month. Economists have said that Trump’s sales tax would actually result for middle-class families in about $4,000 more a year because of his policies and his ideas about what should be the backs of middle-class people paying for tax cuts for billionaires.
FORMER PRESIDENT DONALD TRUMP: First of all, I have no sales tax. That’s an incorrect statement. She knows that. We’re doing tariffs on other countries. Other countries are going to finally, after 75 years, pay us back for all that we’ve done for the world. And the tariff will be substantial in some cases. I took in billions and billions of dollars, as you know, from China.
In fact, they never took the tariff off because it was so much money, they can’t. It would totally destroy everything that they’ve set out to do. They’ve taken in billions of dollars from China and other places. They’ve left the tariffs on. When I had it, I had tariffs and yet I had no inflation. Look, we’ve had a terrible economy because inflation has — which is really known as a country buster.
It breaks up countries. We have inflation like very few people have ever seen before. Probably the worst in our nation’s history. We were at 21%. But that’s being generous because many things are 50, 60, 70, and 80% higher than they were just a few years ago. This has been a disaster for people, for the middle class, but for every class. On top of that, we have millions of people pouring into our country from prisons and jails, from mental institutions and insane asylums.
And they’re coming in and they’re taking jobs that are occupied right now by African Americans and Hispanics and also unions. Unions are going to be affected very soon. And you see what’s happening. You see what’s happening with towns throughout the United States. You look at Springfield, Ohio. You look at Aurora in Colorado. They are taking over the towns. They’re taking over buildings.
They’re going in violently. These are the people that she and Biden let into our country. And they’re destroying our country. They’re dangerous. They’re at the highest level of criminality. And we have to get them out. We have to get them out fast. I created one of the greatest economies in the history of our country. I’ll do it again and even better.
VICE PRESIDENT KAMALA HARRIS: So, Donald Trump has no plan for you. And when you look at his economic plan, it’s all about tax breaks for the richest people. I am offering what I describe as an opportunity economy, and the best economists in our country, if not the world, have reviewed our relative plans for the future of America.
What Goldman Sachs has said is that Donald Trump’s plan would make the economy worse. Mine would strengthen the economy. What the Wharton School has said is Donald Trump’s plan would actually explode the deficit. Sixteen Nobel laureates have described his economic plan as something that would increase inflation and by the middle of next year would invite a recession. You just have to look at where we are and where we stand on the issues.
And I’d invite you to know that Donald Trump actually has no plan for you, because he is more interested in defending himself than he is in looking out for you.
FORMER PRESIDENT DONALD TRUMP: That’s just a sound bite. They gave her that to say. Look, I went to the Wharton School of Finance and many of those professors, the top professors, think my plan is a brilliant plan, it’s a great plan.
It’s a plan that’s going to bring up our worth, our value as a country. It’s going to make people want to be able to go and work and create jobs and create a lot of good, solid money for our — for our country. And just to finish off, she doesn’t have a plan. She copied Biden’s plan. And it’s like four sentences, like run-Spot-run.
Four sentences that are just oh, we’ll try and lower taxes. She doesn’t have a plan. Take a look at her plan. She doesn’t have a plan.