During the October 1 edition of Fox News' Hannity & Colmes, Fox News contributor and nationally syndicated columnist Dick Morris said of Sen. Hillary Rodham Clinton (D-NY): “You know, one of the things that I think needs to be said about Hillary Clinton -- and I want to say it now -- is that if she is elected president, one of the first things she's going to do is either double the capital gains tax, so it's 30 percent, not 15, or repeal it entirely so it's ordinary income taxed at 40, because that will be the new rate.” Morris continued: “As her election gets closer, as it becomes more likely she's going to win, there's going to be a stock market crash. And when she wins, it's going to be Black Wednesday, because what's going to happen is that Americans will want to sell their stocks so they can get 15 percent tax, not 30 percent tax.”

From the October 1 edition of Fox News' Hannity & Colmes:

ALAN COLMES (co-host): I want to get back to this mocking Hillary for her laugh, ridiculing her for that. Either she's a dour, cold, and calculating -- with the phrase you used -- or you're going to ridicule her for laughing. So this is a no-win situation for her. Let me just finish, and then I'll give you a chance to respond. Newt Gingrich coming on the show in a few minutes will say, “You've got to fight this battle ideologically. If you're going to go after Clinton on personal issues, you're going to lose.”

MORRIS: Yeah, I think that's absolutely right. You know, one of the things that I think needs to be said about Hillary Clinton -- and I want to say it now -- is that if she is elected president, one of the first things she's going to do is either double the capital gains tax, so it's 30 percent, not 15, or repeal it entirely so it's ordinary income taxed at 40, because that will be the new rate.

As her election gets closer, as it becomes more likely she's going to win, there's going to be a stock market crash. And when she wins, it's going to be Black Wednesday, because what's going to happen is that Americans will want to sell their stocks so they can get 15 percent tax, not 30 percent tax.

COLMES: All right, so you're predicting a stock market crash based on what Hillary's going to do. Now, it's fair to debate capital gains. That's a fair debate. But you want to make the issue about a calculated laugh and make that and ridicule her for that, that's not going to help Republicans win.