Both did not mention any content related to cryptocurrency.
Author: Gyro Finance
The US presidential election is becoming increasingly intense. Whether it's opinion polls or the betting market, Harris and Trump are neck and neck. As of September 9, 2024, Harris leads Trump by 1.2 percentage points with 48.4% support, while PredictIt betting odds are even closer, with Trump leading Harris at 52% and 51%, respectively.
Against this backdrop, at 9:00 pm on September 10, local time, Trump and Harris will hold their first public debate in the historic city of Philadelphia, a crucial swing state in the US election. Their performance in this debut is likely to have a significant impact on the election.
Main governing viewpoints of both, source: CICC Research
In the 90-minute debate, they engaged in fierce confrontation on key issues such as abortion, immigration, tariffs, and inflation. However, it is worth noting that neither of them mentioned any information related to cryptocurrency.
Here is a summary of some of their viewpoints, with some deletions and modifications. The original video can be viewed at: YouTube link.
Inflation and Tariffs:
In terms of tariffs, their viewpoints differ. Harris opposes a comprehensive and substantial increase in tariffs, believing that Trump unilaterally triggered a trade war. Regarding internal tax issues, Harris generally advocates maintaining consistency with the Biden administration, reducing taxes for middle- and low-income groups, but increasing taxes for the wealthy and large corporations, including raising the capital gains tax and taxing unrealized capital gains. Trump advocates continuing large-scale tax cuts, further reducing the corporate income tax rate from the current 21% to 15%.
In this context, Harris referred to Trump's proposal to impose tariffs on foreign goods as the "Trump sales tax," stating that this would ultimately be paid by middle-class American families. She took the opportunity to outline her plan to build an "opportunity economy," including proposals to make housing more affordable and expand child tax credits.
Trump continued to advocate for substantial tax increases. In his remarks, Trump bluntly stated, "We are imposing tariffs, and in some cases, the intensity will be significant." In response to Harris's sales tax claim, Trump replied, "First of all, I don't have a sales tax, that's an incorrect statement." He then criticized Harris for the continued inflation during the Biden administration, stating that the inflation rate reached a peak of 9.1% in June 2022, exaggerating the extent of price increases.
He quickly shifted to his primary issue of immigration, once again claiming without evidence that "hundreds of thousands of people from prisons, mental hospitals, and asylums" are crossing the southern border with Mexico. He believes that inflation "is a disaster for the people, the middle class, and every class."
Illegal Immigration
Harris first pointed out that bipartisan immigration legislation in Congress was disrupted due to Trump's lobbying of Republican lawmakers. Trump accused Democratic lawmakers of supporting "open borders," claiming that immigrants are "occupying" American towns, and that the actual number of illegal immigrants is "much higher" than reported, and that "crime rates are rising." He also emphasized that the Biden administration's relaxation of immigration is only for gaining more votes, disregarding the interests of other citizens. However, the moderator questioned Trump's claim about rising crime rates, as FBI data showed a 15% average decrease in all major crime categories in the first quarter of 2024.
Trump immediately claimed that these statistics were "fraudulent," while Harris mentioned Trump's criminal charges, stating, "I think it's interesting for someone who has been indicted for national security crimes, economic crimes, and election interference to say that."
Abortion Rights
On the topic of abortion, which involves reproductive rights, Trump's previous remarks on banning abortion were fiercely attacked by Harris.
Harris stated, "If Trump wins the election, he will sign a national abortion ban," and said that after the Roe v. Wade case was overturned, the Biden-Harris administration took on a leadership role in advocating for abortion rights. She assured people that once Congress passes the bill to restore protection for the Roe v. Wade case, she would proudly sign it into law as President of the United States. As a candidate, she does not support the Hyde Amendment, which Biden previously supported, a provision that prevents federal funds from being used for most abortion procedures. Harris further attacked Trump's abortion ban, stating that "Trump should not meddle in women's bodies."
Trump's attitude has improved, responding that he does not support a nationwide abortion ban and mentioning that the Democrats are very radical in this regard. However, he will not sign a national abortion ban. He is a leader in the field of in vitro fertilization and accused Harris of spreading "lies." "This is an issue that is tearing our country apart," Trump said, and he believes this issue should be returned to the states to resolve.
Clean Energy
In the energy sector, Harris supports clean energy, while Trump's previous rhetoric has mostly advocated a return to traditional fossil fuels. However, in recent times, Trump has reversed his stance in this direction, expressing support for electric cars in discussions with Musk and once again criticizing Harris by stating that if she is elected, "fossil fuels will disappear," and then saying he is a "super fan" of solar energy. On the other hand, Trump stated his hope to repeal the Clean Energy Reduction Act, retrieve unused funds, and promised to declare a national energy emergency after being elected to increase domestic energy supply significantly. It is worth noting that Trump has consistently mocked the Democratic Party's energy and climate plans as a "green new scam," as according to the Clean Investment Monitor, the US continued to record record growth in clean energy and transportation investments in the first quarter of 2024, reaching a new high of $71 billion.
When asked about the issue of climate change, Harris outlined the Biden administration's climate agenda as a pillar of the government's economic strategy, but did not provide many details of her own policies. However, her stance on this issue has also shifted. Previously, in 2019, she stated that she would ban hydraulic fracturing, but in this debate, she mentioned this point again, possibly to gain support in swing states, stating that she will not ban hydraulic fracturing and will invest in various energy sources to reduce dependence on foreign oil. Hydraulic fracturing is the process of injecting water, sand, and chemicals into the ground to extract oil and natural gas from dense rock formations. Currently, the vast majority of oil and natural gas production in the US relies on hydraulic fracturing, but this process has been opposed by environmental organizations concerned about fossil fuel production and underground water pollution.
In addition, Harris touted her role as California's attorney general in suing oil companies, casting a decisive vote for the Clean Energy Reduction Act, and vowed to "address the climate crisis," while reducing energy costs and ensuring energy security and independence.
Capitol Hill Incident
The topic then turned to the Capitol Hill riot in January 2021. When asked if he regretted it, Trump said it was "irrelevant" to him except for his speech. He attributed the event to House Speaker Nancy Pelosi, stating that if she had done her job, the riot would not have occurred. At the same time, Trump refused to admit that he lost the 2020 presidential election, sarcastically stating that he "lost by a hair's breadth," and continued to reiterate his false claims about election fraud (Trump believes that the Democratic Party engaged in fraudulent operations in the election vote).
Harris responded, "We cannot afford a president who will overturn the will of the voters," and called on voters to "turn the page. We don't want to go back to the old ways."
Interestingly, both of their remarks also mentioned party support. Analysts expect the vote rate in this fall's election to be very close. In response, Harris stated that she has received support from former Republican officials in the Trump administration, saying that everyone's choice is very wise. But Trump countered, "This is normal, most people I fired," and mocked the Biden-Harris administration for "never firing anyone."
Geopolitical Conflict
In terms of geopolitical conflict, Trump did not answer the host's question about whether he hopes Ukraine wins the war, but he stated that ending the Russia-Ukraine war is most in line with America's interests and that he would end the conflict between Russia and Ukraine before taking office as president. Trump specifically pointed out that if he were currently president, Putin would be happier because he would not invade Ukraine and lose so many troops and resources.
Harris suggested that Trump would abandon Ukraine in exchange for Putin's support, saying, "Putin will eat you for lunch." "If Donald Trump is elected president, Putin should be in Kyiv right now," Harris said, indicating that she believes Trump and the Republican Party would abandon Ukraine or reach an agreement with Putin to cede territory to Russia. She also mentioned that Russia would threaten Poland and linked this to Polish Americans in Pennsylvania.
Regarding the Israeli-Palestinian conflict, Harris stated that she would defend Israel's right to self-defense, but at the same time, she has lost patience with the humanitarian issues caused by the Netanyahu government in Gaza. "This war must end immediately," Harris said about the Gaza conflict. On the other hand, Trump continued to attack Harris, saying, "She hates Israel, and if Harris is elected president, Israel will not exist within two years," Trump said. "She also hates Arabs, and if I were president, none of this (Gaza conflict) would have started."
Harris refuted his claims and pointed out that she has always supported Israel throughout her political career. Harris said, "I will always give Israel the ability to defend itself." She also called for an end to the war and a two-state solution to provide security for both the Israeli and Palestinian people.
In addition to the above topics, both expressed agreement on expanding the child tax credit exemption program, believing that it should be exempted. They also discussed gun laws, Obamacare, US-China, and India-China relations, without showing different viewpoints from before.
Looking at the entire debate, it must be admitted that perhaps due to insufficient previous contact, Trump's understanding of Harris was not enough, and Harris basically grasped the essence of provoking Trump, holding on tightly to certain topics, leading to Trump showing emotions multiple times in his arguments, while Harris remained relatively stable, but her speech was also consistently conservative as expected, without outstanding performance. In terms of core policies, both performed as usual, with no substantial discussion of policies in the debate. Neither candidate advocated for significantly different economic policies from the current situation, and the differences in tariffs, immigration, and energy remained pronounced.
After the debate, public opinion has not shown a significant difference between the two, but both have publicly stated that they overwhelmingly won the debate. Trump even believes that "this is a 1 vs. 3 (Harris + 2 moderators' victory)." In the cryptocurrency prediction market Polymarket, Harris's odds of winning have risen to 49%.
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