A Harris Administration Could Raise Taxes by $5 Trillion
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A Harris Administration Could Raise Taxes by $5 Trillion
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Through several increases and proposals, Harris reportedly plans to raise taxes by $5 trillion over the course of 10 years.
From Breitbart. Democrat presidential nominee Vice President Kamala Harris’s economic plan would increase taxes by $5 trillion over ten years, according to Americans for Tax Reform (ATR).
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Harris’s campaign announced an enormous economic package on Monday that would undo former President Donald Trump’s tax cuts …
Trump’s Tax Cuts and Jobs Act slashed the corporate tax rate from 35 to 21 percent, lowered income tax rates, and doubled the standard deduction.
Harris wants to raise the corporate tax rate to 28 percent, saying it would reduce the deficit by $1 trillion over a decade.
Harris also claimed she would uphold President Joe Biden’s promise to not raise taxes on those who make $400,00 or less per year. Despite this claim, the Biden-Harris administration has increased Internal Revenue Service (IRS) enforcement, which is estimated to take $20 billion from working-class Americans.
Harris’s economic proposal would also raise the capital gains and dividends tax more than twice as high as China’s, or 44.6 percent. China has a capital gains tax of 20 percent. …
In sum, ATR said that these Harris tax increases and other proposals would boost taxes by $5 trillion on American households and businesses.
What do you think of Harris’ tax proposals? Share your thoughts and prayers below.
(Excerpt from Breitbart. Photo Credit: Gage Skidmore from Peoria, AZ, United States of America – Kamala Harris, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=78594156)
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Father, I pray that you would put candidates in office that will respect our freedoms. Protect our elections and put people in office of your choice.
And lose more freedoms? And pay more taxes? I hope not.
Reducing the debt by a trillion over ten years does absolutely nothing!! The federal deficit approaches that every year! We need fiscal responsibility, not more taxes! I pray that the country and its citizens repents(turns from its liberal anti-God agenda) and comes back to its roots of Christianity so that He may restore this land. May God bless the leaders of this country to make decisions aligned with Jesus Christ!
2 chronicles 7 verse 14. “if My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land.”
Mark 10:27
But Jesus looked at them and said, “With men it is impossible, but not with God; for with God all things are possible.”