Kamala Harris is planning massive tax cuts for corporate America that will inevitably impact the lives of ordinary Americans, her campaign has confirmed.
In a statement provided to NBC News, campaign spokesman James Singer, confirmed she would push for a 28 percent corporate tax rate, calling it “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
“As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity,” said Singer.
While supporters of corporate tax rises will claim that they will not impact ordinary Americans, they will contribute to the continued decline of the American economy, with some companies inevitably moving their operations abroad.
Such a move would also lead to the continued squeezing of small business, higher inflation and consumer prices and less economic opportunity for all.
It would, however, temporarily increase the tax revenue toward the federal government, with which Harris and the Democratic Party will continue to grow the already unsustainable national debt.
During her failed 2020 presidential campaign, Harris proposed returning the corporate tax rate to 35 percent, which it was before Trump’s tax cuts were enacted.
A 28 percent corporate tax rate is lower than what Harris proposed in her failed 2020 presidential campaign, when she called for fully repealing Trump’s tax cuts, which would have returned the corporate rate to 35%.
The latest policy aligns with the Biden regime’s most recent budget proposal.
Donald Trump’s tax cuts, which was signed into law back in 2017 as the Tax Cuts and Jobs Act (TCJA), are set to expire at the end of 2025, unless Congress takes action to extend them.
You can read more about Kamala Harris’s plans to bring socialism to America.
The post SOCIALISM 101: Kamala Harris Confirms Plan For Massive Tax Hikes, Will Roll Back Trump’s Signature Legislation appeared first on The Gateway Pundit.
Source: The Gateway Pundit
Disclaimer: TruthPuke LLC hereby clarifies that the editors, in numerous instances, are not accountable for the origination of news posts. Furthermore, the expression of opinions within exclusives authored by TruthPuke Editors does not automatically reflect the viewpoints or convictions held by TruthPuke Management.
TruthPukes Take:
- In a statement provided to NBC News, campaign spokesman James Singer, confirmed she would push for a 28 percent corporate tax rate, calling it “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.
- A 28 percent corporate tax rate is lower than what Harris proposed in her failed 2020 presidential campaign, when she called for fully repealing Trump's tax cuts, which would have returned the corporate rate to 35%.
- Donald Trump's tax cuts, which was signed into law back in 2017 as the Tax Cuts and Jobs Act (TCJA), are set to expire at the end of 2025, unless Congress takes action to extend them.
