Kamala Harris' economic plan (1 Viewer)

[zztop]

I tried to note some key points, pulled from a few sources, but not sure if I missed some

Harris offers proposals to cut food and housing costs, trying to blunt Trump's economic attacks

Vice President Kamala Harris has announced a sweeping set of economic proposals meant to cut taxes and lower the cost of groceries, housing and other essentials for many Americans.

apnews.com

• proposed for a federal ban on price gouging by food producers and grocers.
• proposed $25,000 in down payment assistance for certain first-time homebuyers and tax incentives for builders of starter homes.
• unveiled her goal of adding three million new housing units during her first term. Additionally, she said, she would "fight for a law that cracks down" on "corporate landlords" that artificially inflate the price of their real estate holdings
• proposed tax breaks for families, as well as middle- and lower-income people, promising to expand the child tax credit to up to $3,600 — and $6,000 for children in their first year of life.
• proposed to enlarge the earned income tax credit to cover people in lower-income jobs without children — which the campaign estimates would cut their effective tax rate by $1,500 — and lower health insurance premiums through the Affordable Care Act
• voiced support for ending taxes on tips for service and hospitality workers last week

 

[MT15]

I’m good with taxing the loans as a conversion of capital.

I’m liking that avenue more and more as I think about it. They are leveraging their assets, so why not tax that activity? Seems fair.

 

[LA - L.A.]

I’m good with taxing the loans as a conversion of capital.

That's what I've been specifically referring to in this conversation. That's the trick that people with a lot of capital use to generate spending money that is currently not counted as income. I think it should and can legally be counted as income.

 

[Nebaghead]

I’m liking that avenue more and more as I think about it. They are leveraging their assets, so why not tax that activity? Seems fair.

The trick is this would impact Home Equity loans which a lot of middle class Americans use. It would have to be progressive and independent of income tax. It would suck to take 30k out on your HELOC to remodel your house and have it apply to your income.

 

[MT15]

The trick is this would impact Home Equity loans which a lot of middle class Americans use. It would have to be progressive and independent of income tax. It would suck to take 30k out on your HELOC to remodel your house and have it apply to your income.

I think they are income-capping it. Net worth over 100M, IIRC

 

[zztop]

New info?

https://www.cnbc.com/2024/09/25/harris-trump-manufacturing-election-proposals-pittsburgh.html

• Vice President Kamala Harris laid out a “third pillar” of her economic platform, focused on boosting U.S. manufacturing in a speech Wednesday at the Economic Club of Pittsburgh.
• In tandem with the speech, the Harris campaign released an 82-page policy blueprint, which summarized the proposals she has laid out so far.

https://kamalaharris.com/wp-content/uploads/2024/09/Policy_Book_Economic-Opportunity.pdf

 

[MT15]

New info?

https://www.cnbc.com/2024/09/25/harris-trump-manufacturing-election-proposals-pittsburgh.html

• Vice President Kamala Harris laid out a “third pillar” of her economic platform, focused on boosting U.S. manufacturing in a speech Wednesday at the Economic Club of Pittsburgh.
• In tandem with the speech, the Harris campaign released an 82-page policy blueprint, which summarized the proposals she has laid out so far.

https://kamalaharris.com/wp-content/uploads/2024/09/Policy_Book_Economic-Opportunity.pdf

Didn’t get to see it, but it got glowing reviews and seems to have been well received by the members of the Economic Club.

 

[Lapaz]

Being paid by stock options isn’t a loophole. Stock options when exercised are taxable income. Same with stock grants.

Stock options is a loophole to avoid income taxes. It is essentially a gift. They should be taxed when used as an alternative form of compensation, and on their growth when exercised.