When Kamala Harris stepped into the role of the presumptive Democratic nominee, it initially sparked a wave of excitement within her party, which had been bracing for a potential disaster with Joe Biden at the helm. For a brief moment, Harris enjoyed a surge in the polls, even taking a significant lead in the political betting markets. At one point, she had a seven-point advantage in Polymarket as the Democratic National Convention loomed. With the media singing her praises and the convention spotlight shining brightly on her, it seemed like Harris might not only hold onto that lead but possibly even widen the gap.
But as it turns out, that lead evaporated just as quickly as it appeared. By the third day of the convention, Harris’s edge had vanished completely. In fact, Donald Trump managed to flip the script and take the lead. By the second day, Trump was already ahead by one point, and as of now, he has stretched his Polymarket lead to five points over Harris. Rich Baris, director of Big Data Poll, noted how remarkable this shift is, especially considering the timing. It raises the obvious question: why is this happening during Harris’s big moment at her own convention?
A major factor behind this sudden reversal is Harris’s botched unveiling of her economic agenda last week, which turned out to be a disaster from both sides of the political aisle. Her proposal for a federal ban on “price-gouging” was met with backlash, even from her own party. Things only went downhill when Harris tried to explain how she would fund her ambitious plans, resorting to one of her infamous word salads. She kept repeating that there would be a “return on investment,” as if the costs of her policies would somehow magically pay for themselves.
As if that weren’t enough, the Harris-Walz campaign announced on Monday that Harris plans to raise the corporate tax rate to 28% if elected. On top of that, she’s now pushing for a 45% capital gains tax on long-term investments and a 25% tax on unrealized gains. But let’s be honest, how many voters are really diving deep into the details of economic policy? What’s likely hurting Harris more is that voters aren’t buying what the Democrats are selling. Despite all the talk of “hope” and “joy,” the convention has been steeped in negativity and a relentless focus on abortion—an obsession that seems increasingly out of touch with mainstream America.
Harris had a 7-point lead in @Polymarket last week. pic.twitter.com/64qbEPPPbD
— Matt Margolis (@mattmargolis) August 21, 2024
