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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHarris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%
Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99% - Common Dreams"The contrast between Harris and Trump on taxation could not be more clear," said the executive director of the Institute on Taxation and Economic Policy.
As ... Donald Trump advances proposals that would further enrich the wealthiest Americans and profitable corporations, an analysis published Wednesday found that Vice President Kamala Harris' tax policy agenda would on average hike taxes on the nation's top 1% while cutting them for every other income group.
The new analysis from the Institute on Taxation and Economic Policy (ITEP) follows its in-depth examination of Trump's tax proposals, which the group found would cut taxes for the richest 5% of Americans and raise them for everyone else.
"The contrast between Harris and Trump on taxation could not be more clear," said ITEP executive director Amy Hanauer. "Trump's plan would widen inequality by making middle-income and low-income families pay more on average while slashing taxes for the very wealthiest. The Harris proposals would cut taxes for most regular families while raising average taxes on the richest 1% with incomes of nearly a million a year or more."
ITEP found that if Harris' proposalsincluding an expansion of the Child Tax Credit, an extension of elements of the 2017 Trump-GOP tax law for those with annual incomes below $400,000, and Medicare tax reforms that would raise levies for those with yearly incomes above $400,000were in effect in 2026, "the richest 1% of Americans would receive an average tax increase equal to 4.1% of their income."
The new analysis from the Institute on Taxation and Economic Policy (ITEP) follows its in-depth examination of Trump's tax proposals, which the group found would cut taxes for the richest 5% of Americans and raise them for everyone else.
"The contrast between Harris and Trump on taxation could not be more clear," said ITEP executive director Amy Hanauer. "Trump's plan would widen inequality by making middle-income and low-income families pay more on average while slashing taxes for the very wealthiest. The Harris proposals would cut taxes for most regular families while raising average taxes on the richest 1% with incomes of nearly a million a year or more."
ITEP found that if Harris' proposalsincluding an expansion of the Child Tax Credit, an extension of elements of the 2017 Trump-GOP tax law for those with annual incomes below $400,000, and Medicare tax reforms that would raise levies for those with yearly incomes above $400,000were in effect in 2026, "the richest 1% of Americans would receive an average tax increase equal to 4.1% of their income."
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Harris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99% (Original Post)
B.See
10 hrs ago
OP
North Shore Chicago
(3,958 posts)1. This makes sense!
This is a sane, fair idea. Which means there will be a fight between us and the crazies who always vote for what will hurt them.
SheltieLover
(59,129 posts)2. K&R
Clouds Passing
(1,639 posts)3. K & R
Xipe Totec
(44,035 posts)4. So to which category does Elon Musk belong?
And would that affect his support for any presidential candidate?