Harris Campaign Surrogate Rep. Ro Khanna: ‘I Don’t Think a Blanket Tax on Unrealized Gains Is a Good Thing’

KERNEN You tweeted it ░░░░░░░░ to me unsolicited I ░░░░░░░░ last week what about ░░░░░░░░ idea And we ve ░░░░░░░░ about it it bears ░░░░░░░░ think some consideration and ░░░░░░░░ conversation I immediately hear ░░░░░░░░ other conservatives we don ░░░░░░░░ need to raise taxes ░░░░░░░░ matter what KHANNA Right ░░░░░░░░ But there are founders ░░░░░░░░ companies that start with ░░░░░░░░ they have 5 billion ░░░░░░░░ die and they pass ░░░░░░░░ on to their heirs ░░░░░░░░ If you re using ░░░░░░░░ as cash it should ░░░░░░░░ taxed KHANNA Right KERNEN ░░░░░░░░ s never been taxed ░░░░░░░░ it s never been ░░░░░░░░ QUICK But they re ░░░░░░░░ against it crosstalk KERNEN ░░░░░░░░ they borrow against it ░░░░░░░░ the idea and it ░░░░░░░░ what you came up ░░░░░░░░ Why do you not ░░░░░░░░ to do Kamala s ░░░░░░░░ or whoever came up ░░░░░░░░ it KHANNA Right KERNEN ░░░░░░░░ do you not want ░░░░░░░░ do the Elizabeth Warren ░░░░░░░░ do you not want ░░░░░░░░ do that one KHANNA ░░░░░░░░ me tell you why ░░░░░░░░ don t think a ░░░░░░░░ tax on unrealized gain ░░░░░░░░ a good thing I ░░░░░░░░ let s say you ░░░░░░░░ an entrepreneur you create ░░░░░░░░ company and it gets ░░░░░░░░ 100 million or 200 ░░░░░░░░ on paper Now if ░░░░░░░░ re taxing that you ░░░░░░░░ probably going to force ░░░░░░░░ person to sell it ░░░░░░░░ re probably going to ░░░░░░░░ it to private equity ░░░░░░░░ you really want the ░░░░░░░░ to be forced to ░░░░░░░░ their companies to larger ░░░░░░░░ and to decline in ░░░░░░░░ I just I don ░░░░░░░░ think that that s ░░░░░░░░ you want for a ░░░░░░░░ ecosystem KERNEN That would ░░░░░░░░ an unintended consequence Jeff ░░░░░░░░ wouldn t have to ░░░░░░░░ that They re going ░░░░░░░░ these these very I ░░░░░░░░ the whole policy is ░░░░░░░░ they re going to ░░░░░░░░ after these people that ░░░░░░░░ say pay less of ░░░░░░░░ tax rate than their ░░░░░░░░ does and they have ░░░░░░░░ of dollars crosstalk KHANNA ░░░░░░░░ get the I get ░░░░░░░░ but this is not ░░░░░░░░ right way to do ░░░░░░░░ And also 95 percent ░░░░░░░░ investments in startups fail ░░░░░░░░ so you re going ░░░░░░░░ disincentivize investments in those ░░░░░░░░ But here s what ░░░░░░░░ think we can go ░░░░░░░░ You have folks OK ░░░░░░░░ start to have capital ░░░░░░░░ and then instead of ░░░░░░░░ that they take out ░░░░░░░░ loan which I call ░░░░░░░░ realization to fund their ░░░░░░░░ lifestyle They never pay ░░░░░░░░ on that Then when ░░░░░░░░ die KERNEN Right KHANNA ░░░░░░░░ pass that money on ░░░░░░░░ their heirs and their ░░░░░░░░ kids never pay tax ░░░░░░░░ that.”