DiscoverThe Indicator from Planet MoneyWhat are Harris' economic plans?
What are Harris' economic plans?

What are Harris' economic plans?

Update: 2024-09-193
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This podcast delves into Kamala Harris' economic vision, contrasting her proposals with those of Donald Trump. The episode begins by examining Harris' plan to expand the child tax credit, particularly for the first year of a newborn's life, aiming to reduce child poverty. The effectiveness of this policy during the pandemic and its potential impact on different income groups are discussed. Next, the episode explores Harris' proposal to raise the corporate tax rate from 21% to 28%, aiming to generate revenue for government spending. The potential economic impact of this policy and its implications for corporate behavior are analyzed. Harris' proposal to tax unrealized gains for individuals with over $100 million in wealth is then examined. The episode discusses the rationale behind this policy, which targets wealth that has not been taxed through traditional means, and its potential impact on wealth inequality. The podcast then moves on to Harris' plan to address housing affordability, which includes a $40 billion fund for affordable housing construction and a $25,000 down payment assistance program for first-time homebuyers. The potential challenges and effectiveness of these proposals are explored. Finally, the episode highlights the lack of discussion about the national debt by both presidential candidates, despite its significant size and potential implications for the economy. The projected impact of both candidates' economic plans on the federal deficit is examined.

Outlines

00:00:41
Kamala Harris' Economic Vision

This episode delves into Kamala Harris' economic proposals, contrasting them with Donald Trump's. It examines her plans for expanding the child tax credit, raising the corporate tax rate, taxing unrealized gains for the wealthy, addressing housing affordability, and tackling price gouging in groceries.

00:01:45
Addressing Child Poverty and Housing Affordability

Harris proposes a significant increase in the child tax credit for the first year of a newborn's life, aiming to reduce child poverty. The episode discusses the effectiveness of this policy during the pandemic and its potential impact on different income groups. It also outlines Harris' plan to address housing affordability, including a $40 billion fund for affordable housing construction and a $25,000 down payment assistance program for first-time homebuyers. The episode explores the potential challenges and effectiveness of these proposals.

00:03:24
Taxing Corporations and the Wealthy

Harris advocates for raising the corporate tax rate from 21% to 28%, aiming to generate revenue for government spending. The episode explores the potential economic impact of this policy and its implications for corporate behavior. It also discusses Harris' proposal to tax unrealized gains for individuals with over $100 million in wealth, targeting wealth that has not been taxed through traditional means. The episode discusses the rationale behind this policy and its potential impact on wealth inequality.

00:08:49
The National Debt and Economic Implications

The episode highlights the lack of discussion about the national debt by both presidential candidates, despite its significant size and potential implications for the economy. It examines the projected impact of both candidates' economic plans on the federal deficit.

Keywords

Child Tax Credit


A tax credit provided to families with children, reducing their tax liability. Harris proposes expanding it significantly for the first year of a newborn's life, aiming to reduce child poverty.

Corporate Tax Rate


The percentage of profits that corporations pay in taxes. Harris proposes raising it from 21% to 28%, aiming to generate revenue for government spending.

Unrealized Gains


Profits on assets that have not been sold. Harris proposes taxing unrealized gains for individuals with over $100 million in wealth, targeting wealth that has not been taxed through traditional means.

Price Gouging


The practice of charging excessively high prices for goods or services, often during emergencies or shortages. Harris proposes a federal ban on price gouging for food and groceries, aiming to protect consumers.

National Debt


The total amount of money that the government owes to its creditors. The episode highlights the lack of discussion about the national debt by both presidential candidates, despite its significant size and potential implications for the economy.

Housing Affordability


The ability of individuals and families to afford housing in a particular area. Harris proposes a $40 billion fund for affordable housing construction and a $25,000 down payment assistance program for first-time homebuyers.

Kamala Harris


The Democratic candidate for Vice President in the 2020 election. The podcast analyzes her economic vision and proposals.

Donald Trump


The Republican incumbent President in the 2020 election. The podcast contrasts Harris' economic proposals with those of Trump.

Q&A

  • What are the key differences between Kamala Harris' economic proposals and Donald Trump's?

    Harris focuses on expanding social programs, raising taxes on corporations and the wealthy, and addressing issues like housing affordability and price gouging. Trump's proposals tend to favor tax cuts and deregulation.

  • How does Harris propose to address child poverty?

    Harris proposes a significant increase in the child tax credit for the first year of a newborn's life, aiming to provide financial support to families and reduce child poverty.

  • What is the rationale behind Harris' proposal to tax unrealized gains?

    This policy aims to address wealth inequality by taxing wealth that has not been taxed through traditional means, such as through the sale of assets.

  • What are the potential challenges of Harris' plan to address housing affordability?

    The plan relies on increasing housing supply, which can be challenging due to factors like land availability and construction costs. There are also concerns about the potential for increased home prices.

  • Why is the lack of discussion about the national debt concerning?

    The national debt is at a historically high level, and its continued growth could have significant implications for the economy, such as higher interest rates and reduced government spending on other priorities.

Show Notes

Yesterday we looked at Donald Trump's key economic proposals for a second term. On today's show, we do the same for Kamala Harris, examining the Democratic nominee's plans for taxes, housing and grocery store prices.

Related episodes:
What are Trump's economic plans? (Apple / Spotify)
Three Kamala Harris indicators (Apple / Spotify)
Bad economics, smart politics (Apple / Spotify)
How much do presidents ACTUALLY influence the economy? (Apple / Spotify)
When Uncle Sam stops paying the childcare bill (Apple / Spotify)

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What are Harris' economic plans?

What are Harris' economic plans?