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Saturday, September 21, 2024

Economic criticisms arise ahead of Kamala Harris visit

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Michael Whatley Chairman of North Carolina Republican Party | Official Website

Michael Whatley Chairman of North Carolina Republican Party | Official Website

When Vice President Kamala Harris visits North Carolina, questions arise about her current and future policy actions. Critics argue she has not fulfilled promises made during the Biden-Harris Administration.

Critics claim American families have faced increased living costs under the Harris-Biden administration. They attribute this to high inflation and significant spending policies. “American families have been ravaged by the high cost of living under Harris-Biden — and she owns every bit of it,” critics state. They highlight that since January 2021, Americans’ personal savings have decreased by over $3 trillion, and inflation has added an average of $28,000 to family expenses.

Kamala Harris is accused of supporting policies that have driven prices higher, including casting a tie-breaking vote for the American Rescue Plan. "Kamala cast the tie-breaking vote for the American Rescue Plan," which some economists say contributed to inflation.

Harris' proposed solutions are also criticized. Opponents argue her plans include tax hikes, socialized healthcare, and welfare for undocumented immigrants without addressing high prices effectively. They warn that her proposals could lead to shortages and inequality: "Her only solution so far is a Soviet-style price fixing scheme."

Harris's campaign website has been noted for lacking detailed policy proposals for a month, raising concerns about her vision if elected president. Critics argue she would be "the most radical, far-left president in U.S. history." Harris herself stated, "I am a radical."

As Senator, Harris's voting record places her as more progressive than several prominent Democrats including Barack Obama and Bernie Sanders.

Opponents express concern over her tax policies, claiming they would significantly impact small businesses and investments. “Harris wants to raise the federal capital gains tax to 33 percent,” which is higher than China's rate of 20 percent and Europe's average of 17.9 percent.

Additionally, Harris supports taxing unrealized gains at a minimum rate of 25 percent for some Americans—a move opposed by many who believe it would discourage investment.

Critics also oppose her plan to raise corporate taxes from 21 percent to 28 percent. The Tax Foundation estimates this increase could result in job losses and economic shrinkage: "In 2024...raising the corporate income tax...would kill 125,000 jobs."

Housing costs are another point of contention with Harris’s policies seen as potentially increasing home prices rather than making them affordable: “Economists have said that Harris' new homebuyer tax credit would actually cause home prices to rise even more.”

Finally, critics cite concerns over public safety policies associated with defunding police movements supported by Harris: “Harris has praised the ‘defund the police’ movement.”

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