Reviewing The Democratic Candidates’ Tax Plans: Kamala Harris

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If you’ve been tied up the past few Mondays, you may have neglected to notice that at the beginning of each week, we’ve been taking a look at the tax proposals put forth by one of the 2018, 17  remaining candidates for the Democratic nomination for President. If you need a reminder as to exactly why we’ve undertaken such a task, I’d encourage you to start from the beginning and read the discussion on Bernie Sanders’ proposal (link below), and you’ll get the gist of things pretty quickly: tax law is going to be a major battle ground in the 2020 election, for three reasons:

  1. To this point, President Trump’s signature legislation remains the 2017 Tax Cuts and Jobs Act (TCJA), which cut taxes for 9 out of 10 people yet remains wildly unpopular, owing largely to the public perception that the law was a thinly-veiled giveaway to the richest 1% and corporations,
  2. Playing on that public perception, the Democratic candidates are unified in their goal to greatly increase the tax burden on those same high-earners and big businesses, and in doing so, are suggesting controversial ways to raise taxes that haven’t been considered in, well…ever, and
  3. The Democratic candidates are going to need all of that revenue, because they have made a lot of promises, from Medicare-to-all to free higher education to an all-in fight against climate change. And those programs ain’t free; as a result, any candidate who wishes to be taken seriously will need to be able to point to a plan that raises enough tax revenue to foot the bill….Read more>>

Source:-forbes