Kamala Harris wants to cut your taxes?
Kamala Harris is out with a new campaign ad that highlights her first policy proposal is to cut taxes for the middle class. She says she will pay for the tax cut by repealing the Trump tax cut (which actually did cut taxes for the middle class).
Remember the Trump tax cut would save a family of four, with annual income of $73,000, more than $2,000. That ends up being a 60 percent reduction in federal taxes. According to the Heritage Foundation, the typical American family will be almost $45,000 better off over the next decade because of higher take-home pay and a stronger economy thanks to the Trump tax cut.
The Harris 60 second ad is airing in Iowa, making her the first major Democratic presidential candidate to hit the airwaves there.
In addition to her middle class tax cut and repeal of Trump tax cut, Harris wants Medicare for All. The price tag for Medicare for All is between $32 trillion and 38 trillion. Justin Haskins from the Heartland Institute estimates that the middle class would necessarily pay for Medicare for All. He projects:
“filers earning $50,000 to $75,000 would likely need to pay on average $7,773 to $9,171 more in new taxes. Those families earning $75,000 to $100,000 would pay $12,612 to $14,880 more. Most households with more than $100,000 income would pay close to or more than $20,000 in additional taxes.”
So as much as Kamala Harris and other presidential aspirants want to disguise their tax plans, they are going to raise taxes on the middle class if one of them gets elected.