Donald’s plan Vs Kamala's plan

Trump's plan is the best. 🙂 I voted for him both times.
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Economy​

Election 2024

Harris vs. Trump: Where they stand on the big issues​

In some ways the candidates’ plans are similar. Both pledge to keep taxes low for the vast majority of Americans. Both favor efforts to produce more goods at home rather than importing them. And in pursuing their policies, both largely ignore an ever-rising national debt. But they have big differences, too.

  • Mr. Trump has said he wants to impose a 60% tariff on all Chinese imports and a 10% to 20% tariff on imports from everywhere else to boost U.S. manufacturing jobs. He aims to extend his expiring tax cuts from 2017, and to cut corporate taxes on domestic production. His promise to deport unauthorized immigrants would reduce the overall number of workers and consumers in the economy. Mr. Trump has also said that he thinks the U.S. president should have some say on how the Fed sets interest rates.

  • Ms. Harris says that, with the 2017 Trump tax cuts set to expire, she won’t raise taxes on personal incomes below $400,000. But she calls for a tax hike for corporations and high-income Americans. In her plan the top personal income tax rate would rise from 37% to 39.6%; a new tax would hit unrealized capital gains of the ultra-rich. She also seeks to expand the child tax credit, and to create an “America Forward tax credit” to invest in strategic industries. Ms. Harris has promised to respect the Federal Reserve’s independence to set monetary policy.
 
.Princessa said:

Economy​

Election 2024

Harris vs. Trump: Where they stand on the big issues​

In some ways the candidates’ plans are similar. Both pledge to keep taxes low for the vast majority of Americans. Both favor efforts to produce more goods at home rather than importing them. And in pursuing their policies, both largely ignore an ever-rising national debt. But they have big differences, too.

  • Mr. Trump has said he wants to impose a 60% tariff on all Chinese imports and a 10% to 20% tariff on imports from everywhere else to boost U.S. manufacturing jobs. He aims to extend his expiring tax cuts from 2017, and to cut corporate taxes on domestic production. His promise to deport unauthorized immigrants would reduce the overall number of workers and consumers in the economy. Mr. Trump has also said that he thinks the U.S. president should have some say on how the Fed sets interest rates.

  • Ms. Harris says that, with the 2017 Trump tax cuts set to expire, she won’t raise taxes on personal incomes below $400,000. But she calls for a tax hike for corporations and high-income Americans. In her plan the top personal income tax rate would rise from 37% to 39.6%; a new tax would hit unrealized capital gains of the ultra-rich. She also seeks to expand the child tax credit, and to create an “America Forward tax credit” to invest in strategic industries. Ms. Harris has promised to respect the Federal Reserve’s independence to set monetary policy.
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Thank you for posting this. Maybe we can discuss now the merits and drawbacks of the plans because I am not the only one who knows the plans. Lol.
 
.Princessa said:

Economy​

Election 2024

Harris vs. Trump: Where they stand on the big issues​

In some ways the candidates’ plans are similar. Both pledge to keep taxes low for the vast majority of Americans. Both favor efforts to produce more goods at home rather than importing them. And in pursuing their policies, both largely ignore an ever-rising national debt. But they have big differences, too.

  • Mr. Trump has said he wants to impose a 60% tariff on all Chinese imports and a 10% to 20% tariff on imports from everywhere else to boost U.S. manufacturing jobs. He aims to extend his expiring tax cuts from 2017, and to cut corporate taxes on domestic production. His promise to deport unauthorized immigrants would reduce the overall number of workers and consumers in the economy. Mr. Trump has also said that he thinks the U.S. president should have some say on how the Fed sets interest rates.

  • Ms. Harris says that, with the 2017 Trump tax cuts set to expire, she won’t raise taxes on personal incomes below $400,000. But she calls for a tax hike for corporations and high-income Americans. In her plan the top personal income tax rate would rise from 37% to 39.6%; a new tax would hit unrealized capital gains of the ultra-rich. She also seeks to expand the child tax credit, and to create an “America Forward tax credit” to invest in strategic industries. Ms. Harris has promised to respect the Federal Reserve’s independence to set monetary policy.
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What gets me about the Harris plan was the 25k credits for down payments. That would just put more stress on an already short supply of homes. Also that would increase the value of every home owner's home so higher property taxes and even more shortage of housing would lead to higher rent as well.

Her business plan was only to help new businesses. If you've been in business 1 or more years your taxes go up.

Everyone with kids that were not newborns were going to lose 1k per kid.

I just can't see the merit in her plan.
 
Thunderdome said:
What gets me about the Harris plan was the 25k credits for down payments. That would just put more stress on an already short supply of homes. Also that would increase the value of every home owner's home so higher property taxes and even more shortage of housing would lead to higher rent as well.

Her business plan was only to help new businesses. If you've been in business 1 or more years your taxes go up.

Everyone with kids that were not newborns were going to lose 1k per kid.

I just can't see the merit in her plan.
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I agree 💯 percent with you and on another thing it's sad that they would lose 1k.
 
Thunderdome said:
Everyone with kids that were not newborns were going to lose 1k per kid.
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I looked this up because such a policy would be political suicide and I don’t think any politician would intentionally do that.

The policy proposal I read said that she proposed a larger tax credit (up to $6,000) for families with a newborn during the child’s first year of life. Families with older children would not have lost $1,000 per child because of that proposal. It was only about giving newborns more.

Family with 2 kids born prior to the policy would have had nothing extra but didn’t lose anything. Same family has another child after the policy = 3rd child gets up to 6k tax credit.
 
Inkandtatts said:
I looked this up because such a policy would be political suicide and I don’t think any politician would intentionally do that.

The policy proposal I read said that she proposed a larger tax credit (up to $6,000) for families with a newborn during the child’s first year of life. Families with older children would not have lost $1,000 per child because of that proposal. It was only about giving newborns more.

Family with 2 kids born prior to the policy would have had nothing extra but didn’t lose anything. Same family has another child after the policy = 3rd child gets up to 6k tax credit.
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The Trump tax bill doubled the child tax credit from 1k to 2k. Harris she said she wouldn't renew the Trump Tax Cuts. So for everyone without a new born they'd go from 2k per kid to 1k.

See the issue?
 
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