Trump is going to add so many trillions in debt again. He’s cutting taxes, while including freebies. He gave us $1 trillion in yearly debt before Covid. Will be $2T now.
You realize that when the income tax was started it was only for the rich, right? It very quickly was pushed down to the middle class and poor. So enough of the "it would not affect the middle class". Government is a voracious beast that consumes everything it touches.
Because trains require long term planning along big geographic distances covering many different state political boundaries. Big Oil can accomplish funding of multiyear environmental and permitting because of their big profits and political donations. Trains have no such funding advocate. Elon => Tesla, Saudi State Sovereign Fund => Lucid Motors, VW => Rivian, etc.
Because that's not reality, with lower income of the government funding things which help the tax payer (public transport, Medicaid...) get underfunded costing you appt more
The problem is that tax cuts without reduced spending just means the US goes further into debt. All this is doing is kicking the can down the road and putting the burden on future generations.
You have it backwards. Incentives to bring back manufacturing, increases GDP and money in the economy, so there is more money to spend, just by the people instead of wasted by the government, which was how it was supposed to be all along. We go further into debt by sending our money overseas instead of bringing back manufacturing and putting people to work instead of subsidizing waste.
Trump said he wants to reduce federal spending.. RFK Jr, a democrat that wants to cut military spending in half has endorsed and wants to work with trump to reduce spending. Trump has mentioned having Elon come and cut spending like he did on twitter (which Elon actually did and was successful). Kamala hasn't shown any inclination to reduce spending.
@@TheAurasmith Successful, really? The X interview Trump did with Musk, they couldn't start it on time due to "technical issues". What if there're technical issues when ppl call 911?
Exactly. Which we saw big time from Trump's first term. No need to repeat the experiment to see the OBVIOUS results. And it's not that I love taxes -- but we need to PAY for what we spend over time. (I'm for something like Gramm-Rudman again, to FORCE budgets into balance, since the Beltway gang can't act like adults, re budgeting and spending).
Then vote trump because he has better policies that will help everyone get rich. Trickle down worked during his term. More jobs were created and GDP was better.
@@johna30 Trickle down only perpetuates wealth inequality. It does not work for the majority of individuals. Harris' plan is more sustainable, more sensible, and will have lower economic impacts across the board.
Yea but it will also boost the growth of small local businesses in order to replace the missing products so instead of being dependent on other countries for products and being easily destabilized by the global economy, america's economy will be better in the long run. Do you think price will go down with harris' plans? 25k on down for new houses, yea great houses prices will be jacked up 25k also. Erasing student loans, hmm guess who would pay for that? Funding endless w4rs? Hmm yea prices won't be raised right? Giving free money to the invaders? Hmm the money comes from lowering prices right? Have u ever thought of it that way? Guess not.
@@Idkanymore567 It did. For example, the agricultural sector had horrible turmoil after tariffs and counter-tariffs. Almost all the revenue those tariffs collected was needed to prop up the agricultural industry.
25k for every first time home buyer? Get ready for every house to be 25k more expensive lol. Giving free money like this just becomes a negligible thing
@@matt_itm3954 there nothing free in this world. I look at as tax money coming back to the people we all pay some kind of tax just on different levels. I think it good to have government help people to get a home. They did back in 2009 to help save the housing market and it worked.
It is a supply and demand issue. You are right, giving first-time homeowners a credit will raise the cost of homes, but that is because they need time to increase the supply of available houses before doing so. Once the prices go down to the point where homeowners don't want to sell them because they will not get as much as they want, that is when you give the buying credit to increase the demand. I have not seen anything from Harris's plan that says they are going to go that route...
the components used in american factories are almost always imported - pretty much every single item in your home has elements that originated outside of the u.s. borders and the tariffs will increase the price of manufacturing - these costs are not paid by the supplier but they will be paid by the end user
@@WillieFungo Entire electronics scene prices will skyrocket, not just phones. Americans love buying every electronics refresh cheapest in the world, they'd riot if they can't upgrade every couple of years. Game consoles, PCs, tablets, phones, TVs etc.
We don't need to raise taxes, we need to reduce spending. Every small business in the world has to balance their budget but every government gets a money printer.
Governments are not businesses. They are a system that should help society run and protect the people. Sorry, but that cost money. Should we spend more wisely, yes. Do we need to balance the budget, no.
You are so close to understanding... A currency issuer like the US government does not have to balance their budget like a small business or household does because they print the money into existence and "spend" it to put it into circulation for us to use. They tax us for the sake of bookkeeping (taking it back and clearing it off the books) and to encourage or discourage certain behavior, but remember that every dollar and coin has their name on it, so yes, the rules are different for a sovereign money issuer.
Trump raised tarrifs when he was president and inflation barely rose, groceries were still cheap, and gas was cheap. Plus raising tarrifs isn't about exporting goods, it is about making sure that more goods are made in the US which makes the produce cheaper.
people just say buy domestically, but that feels impossible in this day in age. The world is constantly connected, with so many vital things getting the majority of their supply from imports. Why else do you think you see everything with a "Made in China" tag.
@@itsjustdewieman that’s the case if the US was a small nation with a small population. But we aren’t. We have more resources than china. But china produces most of the worlds good because it is cheaper and companies like that, which hurts our domestic industries. We have the brains, the people, the resources to do exactly what china does.
I've said it many times, We should create a fund where newborns get $10K put into a social security account (half funded by the government), run by 3rd party investment company like Vanguard and eliminate social security. At 4% year compound interest (6%return -2% inflation), every American would get $750K in inflation protected income when they turn 65. Meanwhile, we would eventually lower the payroll tax as those who aren't newborns and the government would be able to get rid the SSA for social security (only keeping the disability section).
@@Theobroma-p3nnormalizing the government to take take care of you when it can't even take care of itself. Funds will run out, and the debt keeps climbing. People were better off on their own.
The fun thing about trying to pin the blame for high prices in imported goods, tech included, is that during the Reagan-Clinton years these same talking heads were singing the praises of deregulation and getting rid of all safeguards against monopolies. International trade was the answer, and untrammeled business entities scrambled to get all the work done in the U.S. moved off-shore where they could pay lower wages. It makes sense in business, but the government letting it happen without limit was criminally stupid. Now they scamper around trying to sell us that the stock market is not the bloated, cancerous mess that it is economically.
Trumps sanctions placed upon numerous countries have decreased the value of the American dollar. Sanctions especially those imposed by America can restrict access to the global financial system, which is dependent on the dollar. Countries like Russia China, and Iran who have been heavily sanctioned by Trump, prompting them to seek alternatives to reduce their vulnerabilities to USA financial leverage. The Brics Summit in Russia is coming up, end of October. And this could have devastating effect on the American economy. For those people who have said, Trump is good for the economy, well he ran our nation, like he ran his businesses into the ground-why he filed bankruptcy 6 times. American economy is in serious jeopardy, based on decisions made at the up coming Brics Summit-It could reshape the global financial landscape. And America may mot have the position nor the value it once did!
I think its a good thing that some businesses were moved overseas, it seems to me that you can only do so much with a given population, and why would you want to focus on steel manufacturing when you can focus on the products that the steel can be made into?
@@peterkirk8510 I agree 100%. Trump is all about himself and has totally forgotten that the role of the president is that of a public servant. His policies do not help the masses but unfortunately, a large percentage of people require a leader to shepherd them around, instead of just thinking for themselves.
Thank you WSJ for putting out this story with easy to understand graphic information; it really does help us understand the impact of these different approaches/policies.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
Wouldn't someone need $25K in tax liability to claim a $25K new home buyer tax credit? A new home buyer would need over 6 figure income to qualify for the full credit.
If the tax credit gets passed, home prices will increase. The owner will always seek to capture additional equity if they know the buyer suddenly has more money in their pocket
@@jakewinans7646that’s absolutely not true and profoundly dumb. We’ve had first time buyer credits like this before, and it did not increase home prices.
The credit doesn’t have to be against your federal income tax liability in a single year, The tax credit could be against sales tax, real estate fees, real estate taxes over a number of years until the credit is used up. So yes it could represent real gains for a first time buyer and there are many ways it could be made to work. But hey you just want to poke holes in the idea… there are always Trump’s tariffs and tax cuts 😂😂😂 They are guaranteed to transfer wealth from the middle class to the rich.
@@jakewinans7646tax credit does not increase the take home for a seller. It reduces the total expenditure for the buyer. Also, on new home buyers would qualify, I don’t share your conclusion.
@@AChungusAmongUs They do it on houses. That's how property taxes work. The property taxes go up depending on the value of your house which is an unrealized gain. Why not ohter assets?
@@aprinceofearthsea4875 yeah, but both-sides comments let me look smart and sophisticated to similarly-lazy and reductive people, without doing all the hard work of learning stuff!! /s
i like how you guys just skip over Kamala's 25% tax on unrealized capitol gains and price gouging. you want this ship to sink even further than it already has? vote kamala harris
@@tyronethethird2394 you mean what we are experiencing now which we did not experience while Trump was president? some of you should have a mental evaluation. Trump already served a term as president. i know what that looks like.
That will not work and we know that because 99% of congress and the house owns stocks. They are not gonna pay tax on something that they didn't push the sell button
@@sssr98 Harris isn't talking about states, she's talking about federal intervention in markets. That will have the same success as opening the border. You'll have to enlighten me on how banks "tax unearned gains."
I like the way you call taxes "revenue." Businesses make revenue. Governments force us to pay them, and then waste the money. It's not revenue, it's a burden.
The U.S. Debt to GDP is high 125% and Republicans and Democrats took turns getting us here its not good for growth going forward. This is why Warren Buffet is selling boatloads of stock this summer
I for one, would not take any advice from the guy that has failed on every business he has ventured into, and has filed for bankruptcy multiple of times
Revenue gained from Trump's proposed tariffs is only IF we don't start making those goods here in America. The whole point of bringing manufacturing back to the US is to bring jobs and increased tax revenue from wages. More jobs created/brought back could actually extend the insolvency timeline of Social Security by a bit. Honestly 2032/33 before Social Security is upside down is huge. If they don't figure out how to pay for SSI/SSD we're just gonna get more money printing to fund it, which means higher inflation. In essence the American people are gonna directly pay for beneficiaries to retire with higher prices on goods/services.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
Do you not remember? I see a lot of people who don't seem to remember. It wasn't good. The economy may grow slower under Demarcates, but it grows. Republicans go for quick growth polices that end up tanking the economy. Then they bail out the rich and leave everyone else to fend for themselves. I'll take slow and steady over the Republicans' way.
Why dont you people stop agreeing to ADD taxes?! That's not the issue the US has.. it's the overspending of the government. We need to reign in the spending! We don't need new taxes raised or lowered at the moment, we need to get rid of malfunctioning parts of the government. AUDIT THE GOVERNMENT, and PLEASE STOP AGREEING TO NEW TAXES.. on anyone rich or poor
Which parts do you want reign in? The parts that help take care of the elderly? The parts that try to educate our children? The parts that try to maintain our infrastructure? The parts to watch over our food and medications ? How about the part that tracks storms? Or maybe just the parts the fail to prove for our soldiers and veterans? There are parts we could improve our spending on, but most part of the government are underfunded, badly underfunded.
@@tmyonthat Yes, but when people start complaining that the gov. needs to reign in spending they normally seem to want to cut areas we need and are already underfunded. Granted, I was assuming which parts @ul6633 would want to cut. So I could be wrong. I also made the assumption that @ul6633 thinks the gov. should be run like a business, which is ridiculous as governments and business have very different purposes. So, a lot of assuming on my part.
Trump likes tarrifs because he can do them without congress, and this gives him free reign to be heinously corrupt. Want to get around that 10% tarrif? Oh don't worry the Boss will let you do that if you give him a taste. Pay to play. Basic corruption.
@@foolishgamer99 the catch is if it did pay off, then the money originally went foreign countries fall into American's pocket. So if it did payoff, then it would be absolute win for Trump's policy. The case is if it is going to payoff. It's always in the detail.
Kamala Harris's Plan: Tax Cuts & Business Impact: Middle-class tax cuts may reduce business investments, as higher taxes on companies could limit their growth and job creation. Price Controls: Regulating prices might lead to reduced quality, fewer goods, and even shortages, disrupting supply and demand dynamics. Oversight & Bureaucracy: More government regulation could slow business efficiency and discourage entrepreneurship. Inflation & Supply Chains: Pursuing companies won’t solve deeper issues like inflation and supply chain disruptions. Deficit & Debt: Tax cuts without spending reductions may increase national debt, causing long-term inflation. Donald Trump's Plan: Manufacturing Jobs: Raising tariffs on China could bring manufacturing jobs back to the U.S., benefiting the middle class with stable employment. Corporate Tax Cuts: Lower taxes for businesses can lead to job growth, higher wages, and increased investment. Domestic Supply Chains: Reducing reliance on China strengthens U.S. industries, promoting economic stability. National Security: Domestic manufacturing ensures economic independence and reduces dependency on foreign powers. Tariff Strategy: Tariffs aim to address unfair trade practices, boosting competitiveness for U.S. companies. Preventing Outsourcing: Tax cuts and tariffs discourage companies from moving jobs overseas. emotional win goes to Kamala, logical win that will actually result in a better America goes to Trump. The loser? all of us because we can't stop fighting...
@@codysmith3061i find it hilarious that Dems are clearly staging Kamala to go after big corporations to look like a messiah for the oppressed. It does well in winning over the working class, and anyone who is burdened by cost of living at the moment.
Harris’ $25k first home buyer tax credit and federal tax incentives for companies to build 3 million new houses (ie: increase the housing supply) is the first time ANY presidential candidate has actually directly addressed a thing that most federal politicians ignore - the housing crisis. Buying that first house is a huge thing for young couples and I’m so glad that finally a presidential candidate has actually had a policy on it. That first house is the keys to everything else in life as it is your most important asset to build your wealth upon. Intergenerational wealth starts here.
Yeah, and sellers will be able to charge $25k more! We should be focused on removing obstacles to affordable housing. Handouts are a lazy solution. And they often come with unintended consequences. Also, not everyone needs land. That's going to become increasingly impractical as the population grows. And single-family homes are an inefficient use of land.
@@petelosuaniu The market price will rise faster than inflation and wage increases due to the increase in funds available to buyers. Just like federal student loans and college tuition.
The problem isn't getting more funding it's to slow down government spending. That's why America's social services are terrible yet we spend so much money on them.
In California, 25K to help with buying a home is a nickel in a bucket, doesnt help much when the home in an average neighborhood starts at nearly 1 million
The country is not California. I live on the west coast and it is nuts - but the middle of the country is not crazy at all by comparison. 25K is enough for an entire down payment in a bunch of places.
@@reallysomebodyso why hasn’t her and Biden done that. They been there for almost 4 years now. So they just let the housing market spiral out of control, then 4 years later at election time. They claim they will fix it. Somehow idiots will still vote for them, they just sweeten you up with their words
It's very simple: In a global economy, manufacturers have options to escape paying corporate taxes and living wages. Tariffs however, especially given our trade imbalances, protect our workers. Increased volume of US production will help offset the higher prices on consumer goods.
Tariffs do increase the price of certain foreign goods, but I think that is sort of the point, to protect the American workers against slave labor from other countries. If there is no advantage to hiring other countries, then it makes sense to produce in this country. If production goes up, the demand for workers goes up. If that demand exceeds workers available, wages go up. It is a similar concept to supporting small community businesses that cannot compete with the giants.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Look at Trump's 4 year presedency and Biden's 4 year presidency and see who had better economy. Remember that Harris was Biden's VP so it's basically the same government.
0% Federal Corporate tax. 100% Corporate taxation for Social Security and Medicare. Absolutely ridiculous half from income and half from employer. Fair tariffs on imports from countries that do not share our same values of labor, employee safety, well being or senior entitlements. Businesses do not pay federal taxes, they collect them from consumers on behalf of the IRS. Isn't a sustainable business in US that has not included tax expense in their selling price to consumer and the bigger ones are happy to collect consumers representation while they're at it.
The wealthy will pull their investments and collapse the market. They have money and wouldn't care. The rest will suffer, only making the wealthy richer.
Yep, what @slam38282 said - and it's completely doable since Trump's billionaire tax cuts expire soon. We'll have plenty enough for the middle class when billionaire bros and large corps start paying their fair share.
This is often misunderstood. It only applies to folks with $100M plus in assets and who do not pay income taxes. It's really targeted at billionaires (e g. Bezos) that pay zero taxes by "borrowing" against their assets and claiming they have no income. It's an attempt to close a massive loophole. That said, good luck enforcing it.
As if the rest of washington D.C aren't in the corporations pockets bro. Every time somebody gets elected they somehow become a millionaire in the span of a year
Then they will go out of business unless they have a monopoly. And if they have a monopoly they need to be broken up. Price gouging is also set to become illegal.
i mean more likely is a jump in goods prices if trump gets in there because tariffs come at prety much just a big a cost as taxes if they are just slapped on every good from china
I am ok with that if you also let me take equal deductions for the losses. I took the risk by investing, not the government! If I share the gains they should more adequately share the capital losses!
I'm fairly certain the tax on unrealized gains only applies to those with 100 million or more in net worth. How else do we make the rich pay their fair share in taxes? They take their "salaries" in stock options that dodge income tax. They then use those stocks as collateral to take out loans in order to purchase things. Effective tax rates for the ultra-rich are downright laughable (under 5% for most). It's a hard sell and will never be implemented because the rich control our government, but the average American should absolutely support it.
@@crisp_like_dylan you make the rich pay their fair share by decreasing regulation and clearing out the bureaucracy stifling competition so small businesses don't have to pay hundreds of thousands in fees to launch a product, put tariffs on foreign goods coming into our country, and put 1:1 tariffs on countries that are already putting insane tariffs on our goods and not allowing US companies to compete in their markets like Europe, China and Russia.
As a non American, i just want yall to have a leader that put yous first for once🙏 those billions should be right back into literally anything towards citizens full stop, regardless of whatever political side*😅
This is BS. Your telling me the campaign that is being funded by corporations is going to impose heavy taxes on those corporations is completely laughable.
So you assume no companies want to pay extra money. Then why so many companies make donations to charities? In fact, companies, like people, are different from one another. As to political donations, some companies make so much money that they genuinely want to do something good with their money. If you ask Bill Gates and Jeff Bezos, they'd tell you that they are happy to pay more taxes if it can help fellow Americans and stop global warming. Some companies have mostly liberal employees and customers and they need to keep their employees and customers happy.
@@Qingeaton You are cynical. A business is basically a group of people. People care about their own interests, but they do care about causes too --- so of course organizations care about the causes which their people care about. As to tax, if you donate to charity, you can write off some tax, but it doesn't reduce the overall amount of money that leaves your pocket.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
Thailand is a great place to retire. I live very well on $1200 per month. Health care is second to none. Thai people are happy and friendly. I've been here 9 years and no regret.
Whether it’s tariffs or taxes, the end result is the same. It’s weird hearing one political side defame the other when they are doing the same exact thing in different ways.
Can the US get a candidate who wants to make mega-corps and billionaires pay a more fair share of taxes, cut wasteful government spending, and maybe not try to railroad us with authoritarian insanity?
@@michaeleldridge5640 And which state you live in. But in my opinion, mandating paid maternity leave is what's crazy. It just makes young women riskier hiring candidates. Would you hire someone if there's a good chance they were going to disappear for months at a time but you'd have to pay them anyway? Or would you hire the person who could be fired for not showing up to work? From the perspective of the employer who just needs the work to get done, that's a necessary calculation. And women are much more likely to pull back or leave the workforce after having kids. My wife did. And I know of quite a few others who did as well.
@@AChungusAmongUs im in Michigan. i guess im not sure if the state decides that or not. i assumed we didn't. the argument is to help Americans feel comfortable having kids since we have no natural population growth. but there are discrimination laws so they would be in theory be illegal if they didn't hire someone based on that maybe.
I honestly would prefer a hybrid tax reform. Give some tariffs (to encourage more stateside production and industry) and tax the top 3% a bit more. 🤷🏽♂️
America's been divided for a while now. I think it's clear Americans are going to suffer as they cannot agree upon how their own country is lead. Too much divisiveness.
@@hiblop social media bots and politicians who are literally selling out their own country (both sides) are to blame. They want this. Russia and China want this.
Biden spent money like a drunken sailor, that's why. The American recovery act has money being used to pay for illegals who will vote for Dems, as soon as they can.
Because, guess what, Biden did not remove the tariffs that Trump created. Him and Harris criticise trump but you can google it. They agree with him on tariffs when it comes down to actual policy. Not only that, Biden is even increasing the tariffs on China by introducing new ones.
and for some reason that is never discussed... I find it laughable that people complain about Trump's plan potentially increasing the deficit but fail to acknowledge the elephant in the room (aka the government's frivolous spending)
@@orangeroom1694 remind me how courts are supposed to determine if the executive action is official or not when all communications between government officials were explicitly banned from court review.
And lower prices at the store does not build roads, schools or provide healthcare nor housing to those in need. That stuff costs money. Also corporate landlords will raise your rent any chance they get regardless of their tax rates being lower or higher. Price gouging is happening to everything and that can't be blamed on anything but pure greed.
@@ecnalms851 and that's completely unsustainable with the millions of regulations created by unelected bureaucrats stifling small businesses and competition. If you want to raise taxes on businesses you have to decrease regulations. Raise taxes without decreasing the regulations and watch the economy crash while monopolies grow. Majority of billionaires support Kamala btw
The housing tax credit will never work. It will only increase prices cause people and corporations will adjust their pricing. We need more supply side changes not demand.
Too much regulation in the housing market. HUD and the Federal Gov't need to use their leverage to force local municipalities to permit more development.
@@goodfortunetoyou Subsidies will just result in price increases for the target product. When you have more first-time buyer competing for a limited pool of available property, they can increase the amount they offer when you include the subsidized benefit. This means more price inflation. The way to increase affordability is bring supply and demand into balance. There hasn't been enough housing supply constructed since the collapse in 2008 and market demand is now outpacing it. I'm Harris supporter, but this plan is stupid.
The housing market is directly affected by corporate greed. Corporations through private equity firms should never allowed to purchase home and inflate home prices.
People should realize corporate taxes are taxes on anyone who shops at corporations. Corporations dont pay taxes. Consumers pay the taxes its just passed along like any other costs.
Y’all vote for who you want, but I’m not trusting someone who said they will cut prices when they’ve been VP for a full term and prices have done nothing but skyrocket
Do you support government subsidized "healthcare" (aka abortions and sex-change surgeries)? If so, congratulations, what you just said is hypocritical.
DEI hire says she worked at McDonald's but lied for no apparent reason. How weird that she wouldn't know that it can be checked into. Makes you think she's kind of dumb.
Don't forget that tariffs are a tax on imported goods which means its ultimately the consumer who pays for it. So even if Trump he reduces incomes taxes for the middle class, your still going to be paying for it with higher prices on the goods you buy, even "Made in America" goods.
@@markrogers1786 the point is that there will be a definitive short-medium term cost to consumers with those tariff hikes, with a hope that in the long term some of the supply chains transition back to the US and those "made in america" goods are sold at a considerably lower rate than those same goods being imported - rather than simply increasing their profit margin in such a way to benefit the US manufacturers but not necessarily consumers.
@@TKHaines It showed his brilliance yet again. The public has been jaded hearing about millions of illegals. There isn't anything to catch anyone's attention anymore. We all know we have been, are are still now being, invaded with the help of our own government and their quest for a permanent Democrat majority. This was a great way to bring the focus back on a system that would dump 20k people from another country into a town of 55-60k. It's insane, but that's the Democrat way. Cheat and lie til you win.
Instead of a child tax credit, why not take 1.2T and have free child care??? Then those parents who stay at home can go back to work and bring in additional income. Societal benefit and an economical one freeing up the work force. It turn, with additional family income you could reduce welfare programs
@@Xsqber1234 it wouldn’t cost anywhere near 1.2T - I said that number cause that’s the cost of the proposed expansion of the child tax credit over 10 years. Latest projections for free child care is around 200-300B (don’t quote me on the exact figure). Raising corporate tax rates to 25% won’t cause businesses to leave (However, I believe in a low corporate tax rates myself), and lastly tax net worth greater than 100+ mil at 25% as a baseline up front, (maybe repeat at 10% every 10 years - 3 years to pay - only if net income remains over 100m-sounds brutal but someone going from 100M to 75M net worth doesn’t invoke much sympathy). All of this should more than offset the cost and then some. Reform social security and increase the retirement age (not popular but needed). Decrease healthcare costs by removing forced government contracts with Medicare. With all that said I see your point on the deficit as it is one of the biggest threats to destabilize the entire market. Which unfortunately means raising taxes cleverly as to not directly affect lower-upper middle classes and decrease spending. But then again, I’m not an economist, just like sharing ideas.
@@Rob_AMX I support raising the corporate tax and closing loopholes. As long as people aren’t dependent on government and the deficit is as low as possible, then this is fine.
Leads to even fewer children and a worse demographics problem. Also, there isn't really a social benefit to basically being raised away from your parents.
@@Quekksilber my counter is, that’s when good immigration comes into play. Given all our lineage comes from immigration, with the exception of native Americans, should be a no brainer
I heard a lot of positive stuff about you and then I met this video. First video of yours i am watching... Totally hooked and I subscribed before I even finished watchng. Thanx you.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
you do realize Europe, Russia, China etc. already have extremely high tariffs on US goods and don't let us compete in their markets right? Google Reciprocal Trade Act
Let's be honest. She isn't cutting taxes for middle and lower-class earners. She is offering additional credits for them. Her $25,000 down payment assistance will due to the housing market the same things student loans did to school costs.
@@BrianMcLamb oddly, property tax is a tax on unrealized gains. The precedent has been set. Government never seems to have a problem with defining tax structure to maximize collection.
@@scattergud3122 BINGO... currently unmaterialized gains are taxed on people who's primary asset is their house (aka the middle class) even if it has liens against it by a bank, but not on people whose primary asset is $billions in stock.
Reduction in tax doesn't *cost* anything, and it's horrifying that it's become commonplace to refer to it that way. It treats current government expenditure as a given. Expenditure is what *costs* money, and needs to be reduced.
Because they are smarter than the average American who thinks getting something free from the government is without cost in the long run. My electric bill went from $160 to $250 for the month of August, when the air runs 24/7. The government is going to give me a 2% cost of living increase in my Social Security. Over a year, that will be paid to the electric company alone. What about food, gasoline, heating oil, car parts, etc? Inflation has been really bad under Biden/Harris, and the government acts like it's a normal 2%, when it's more like 8% a year, for 3-1/2 years.
None of you in the comments understand economics, let alone how financial policy works, and it shows. If you studied those two just for a couple of weeks you would realize that Trump's way of doing things benefits the American people 10 fold. Did any of you watch the video? How are you still for Kamala lol. I really don't understand.
You're saying the guy who went bankrupt 6 times somehow now knows how to create Policy that will keep the country solvent. 😂 I've studied economics (MBA) and finance (CFA) and the only people benefited by trump's tax policy are the top 2% income earners and possibly, the top 5% of income earners who qualify for social security.
@@angeloc700 we’ve been thru a Trump presidency before, inflation was lower and the economy was better overall before Covid. Before you say He “InHeRiTeD ObAMaS EcoNoOMy” the Biden/Harris administration inherited the economy at a low inflation rate as well. In July 2019 inflation rates were at 1.8% (per a quick google search anyway).
Corporations that are none union don’t like they should and their benefits suck. They stick there profits in their pockets . No trinkel down unless they are union . All big corporations should offer good health care and good retirement plans
![โอ้เธอช่าง... - บี้เดอะสกา ft. ต๋อง เทวัญ (Prod. by ป๋าเพชร) [Official MV]](http://i.ytimg.com/vi/zbWhiLFmVL0/mqdefault.jpg)
An annotated fact-check and analysis of the Harris-Trump debate: on.wsj.com/3ZgSAxH
Trump is going to add so many trillions in debt again. He’s cutting taxes, while including freebies. He gave us $1 trillion in yearly debt before Covid. Will be $2T now.
remember me when ur vid gets popular. i think ur channel got a lot of potential
That wasnt even a debate, it was a 3 vs 1 lynching where she never got fact checked and told several lies.
Trump fell for it and didn't look good.
Why would anyone trust this channel when it is owned by and used as a mouthpiece for Billionaire Owners?
You realize that when the income tax was started it was only for the rich, right? It very quickly was pushed down to the middle class and poor. So enough of the "it would not affect the middle class". Government is a voracious beast that consumes everything it touches.
I clicked on the video because I was hoping they'd talk about trains. Why can't we have nice trains in the US??
Because the lobbying of the auto manufacturers is too difficult to stop.
Because trains require long term planning along big geographic distances covering many different state political boundaries. Big Oil can accomplish funding of multiyear environmental and permitting because of their big profits and political donations. Trains have no such funding advocate. Elon => Tesla, Saudi State Sovereign Fund => Lucid Motors, VW => Rivian, etc.
I like trains.
We do but they're all used for freight.
Leonard, please come get Sheldon and have Penny sing soft kitty so he can go to sleep! Smh
I love how The Wall Street Journal keeps saying ``Cost the government trillions`` instead of saving the tax payer trillions
Because that's not reality, with lower income of the government funding things which help the tax payer (public transport, Medicaid...) get underfunded costing you appt more
Cause if they don’t fund these programs prices will go up
Saving taxpayers money is great until their currency is worthless
You actively benefit from government services every day, even if you don't realize it.
RIGHT? They wanna kill the goose that lays the golden eggs.
The problem is that tax cuts without reduced spending just means the US goes further into debt. All this is doing is kicking the can down the road and putting the burden on future generations.
You have it backwards. Incentives to bring back manufacturing, increases GDP and money in the economy, so there is more money to spend, just by the people instead of wasted by the government, which was how it was supposed to be all along.
We go further into debt by sending our money overseas instead of bringing back manufacturing and putting people to work instead of subsidizing waste.
hence why we need to reduce the government's frivolous spending habits... we are at the point that we just print money to finance it anyway.
Trump said he wants to reduce federal spending.. RFK Jr, a democrat that wants to cut military spending in half has endorsed and wants to work with trump to reduce spending. Trump has mentioned having Elon come and cut spending like he did on twitter (which Elon actually did and was successful). Kamala hasn't shown any inclination to reduce spending.
@@TheAurasmith Successful, really? The X interview Trump did with Musk, they couldn't start it on time due to "technical issues". What if there're technical issues when ppl call 911?
Exactly. Which we saw big time from Trump's first term. No need to repeat the experiment to see the OBVIOUS results.
And it's not that I love taxes -- but we need to PAY for what we spend over time. (I'm for something like Gramm-Rudman again, to FORCE budgets into balance, since the Beltway gang can't act like adults, re budgeting and spending).
Look, all I want is my Subway sandwich to not cost $14 instead of $5.
Then vote Trump.
Harris caused this by passing 6 trillion of spending.
You could just make your own
Then vote trump because he has better policies that will help everyone get rich. Trickle down worked during his term. More jobs were created and GDP was better.
@@johna30 Trickle down only perpetuates wealth inequality. It does not work for the majority of individuals. Harris' plan is more sustainable, more sensible, and will have lower economic impacts across the board.
@@johna30literally everything you said is incorrect. Stop spreading misinformation.
i love how many people support tariffs while being clueless as to how it hurts them
Trumps tariffs are still in place, Biden kept them.
Yea but it will also boost the growth of small local businesses in order to replace the missing products so instead of being dependent on other countries for products and being easily destabilized by the global economy, america's economy will be better in the long run. Do you think price will go down with harris' plans? 25k on down for new houses, yea great houses prices will be jacked up 25k also. Erasing student loans, hmm guess who would pay for that? Funding endless w4rs? Hmm yea prices won't be raised right? Giving free money to the invaders? Hmm the money comes from lowering prices right? Have u ever thought of it that way? Guess not.
fr
Didnt hurt anyone during Trumps presidency.
@@Idkanymore567 It did. For example, the agricultural sector had horrible turmoil after tariffs and counter-tariffs. Almost all the revenue those tariffs collected was needed to prop up the agricultural industry.
25k for every first time home buyer? Get ready for every house to be 25k more expensive lol. Giving free money like this just becomes a negligible thing
Most anyone SHOULD be able to understand that, but 'free money" lol
@@matt_itm3954 there nothing free in this world. I look at as tax money coming back to the people we all pay some kind of tax just on different levels. I think it good to have government help people to get a home. They did back in 2009 to help save the housing market and it worked.
Not unless they build more houses. Easier said than done though.
It is a supply and demand issue. You are right, giving first-time homeowners a credit will raise the cost of homes, but that is because they need time to increase the supply of available houses before doing so. Once the prices go down to the point where homeowners don't want to sell them because they will not get as much as they want, that is when you give the buying credit to increase the demand. I have not seen anything from Harris's plan that says they are going to go that route...
Trump lives off of free money!
I can't imagine Americans without imported goods... Who's going to manufacture iPhones for cheap?
India
Not every product, only that can be manufactured in the us
the components used in american factories are almost always imported - pretty much every single item in your home has elements that originated outside of the u.s. borders and the tariffs will increase the price of manufacturing - these costs are not paid by the supplier but they will be paid by the end user
Who cares? Iphones are not nessesary for life.
@@WillieFungo Entire electronics scene prices will skyrocket, not just phones. Americans love buying every electronics refresh cheapest in the world, they'd riot if they can't upgrade every couple of years. Game consoles, PCs, tablets, phones, TVs etc.
We don't need to raise taxes, we need to reduce spending. Every small business in the world has to balance their budget but every government gets a money printer.
I have a small farm business. I have had to raise my prices by 22% during these last 4 years, just to stay even.
@@Qingeaton yup exactly.
Governments are not businesses. They are a system that should help society run and protect the people.
Sorry, but that cost money. Should we spend more wisely, yes. Do we need to balance the budget, no.
You are so close to understanding... A currency issuer like the US government does not have to balance their budget like a small business or household does because they print the money into existence and "spend" it to put it into circulation for us to use. They tax us for the sake of bookkeeping (taking it back and clearing it off the books) and to encourage or discourage certain behavior, but remember that every dollar and coin has their name on it, so yes, the rules are different for a sovereign money issuer.
@@TKHainesfunding for social activist groups agendas state to state seems like a waste of money. You like that just cutting through resources?
When america raises tariffs, other countries raise tariffs in response, making everything more expensive for everyone
Trump raised tarrifs when he was president and inflation barely rose, groceries were still cheap, and gas was cheap. Plus raising tarrifs isn't about exporting goods, it is about making sure that more goods are made in the US which makes the produce cheaper.
Then buy domestically.
people just say buy domestically, but that feels impossible in this day in age. The world is constantly connected, with so many vital things getting the majority of their supply from imports. Why else do you think you see everything with a "Made in China" tag.
@fatnootz3466 Trump also wants to weaken the dollars, I think that might help production lines going back to the US.
@@itsjustdewieman that’s the case if the US was a small nation with a small population. But we aren’t. We have more resources than china. But china produces most of the worlds good because it is cheaper and companies like that, which hurts our domestic industries. We have the brains, the people, the resources to do exactly what china does.
If you’re relying on Social Security to retire, you’re already screwed
Indeed, regardless of which party wins the presidency this is projected.
@@connor13666Most people don’t have the financial acumen to manage their own money.
I've said it many times, We should create a fund where newborns get $10K put into a social security account (half funded by the government), run by 3rd party investment company like Vanguard and eliminate social security. At 4% year compound interest (6%return -2% inflation), every American would get $750K in inflation protected income when they turn 65.
Meanwhile, we would eventually lower the payroll tax as those who aren't newborns and the government would be able to get rid the SSA for social security (only keeping the disability section).
@@Theobroma-p3nnormalizing the government to take take care of you when it can't even take care of itself. Funds will run out, and the debt keeps climbing. People were better off on their own.
@@connor13666 that's not very "social" of you...
The fun thing about trying to pin the blame for high prices in imported goods, tech included, is that during the Reagan-Clinton years these same talking heads were singing the praises of deregulation and getting rid of all safeguards against monopolies. International trade was the answer, and untrammeled business entities scrambled to get all the work done in the U.S. moved off-shore where they could pay lower wages. It makes sense in business, but the government letting it happen without limit was criminally stupid. Now they scamper around trying to sell us that the stock market is not the bloated, cancerous mess that it is economically.
Trumps sanctions placed upon numerous countries have decreased the value of the American dollar. Sanctions especially those imposed by America can restrict access to the global financial system, which is dependent on the dollar.
Countries like Russia China, and Iran who have been heavily sanctioned by Trump, prompting them to seek alternatives to reduce their vulnerabilities to USA financial leverage. The Brics Summit in Russia is coming up, end of October. And this could have devastating effect on the American economy. For those people who have said, Trump is good for the economy, well he ran our nation, like he ran his businesses into the ground-why he filed bankruptcy 6 times. American economy is in serious jeopardy, based on decisions made at the up coming Brics Summit-It could reshape the global financial landscape. And America may mot have the position nor the value it once did!
I think its a good thing that some businesses were moved overseas, it seems to me that you can only do so much with a given population, and why would you want to focus on steel manufacturing when you can focus on the products that the steel can be made into?
Us citizens pay Tariffs. Not other countries. We will pay more
wrong
@@LOKSTEDpretty typical trump supporter response. Untethered from reality.
@angel imagine supporting Kamala Harris though, that’s kind of rough
@@alphax101-gaming2 Compared to supporting trump it's about as rough as freshly washed towels!
@@peterkirk8510 I agree 100%. Trump is all about himself and has totally forgotten that the role of the president is that of a public servant. His policies do not help the masses but unfortunately, a large percentage of people require a leader to shepherd them around, instead of just thinking for themselves.
Thank you WSJ for putting out this story with easy to understand graphic information; it really does help us understand the impact of these different approaches/policies.
Focusing on the wrong end of the equation. Need to eliminate the bloated spending.
The lobbyists will not be ok with that, so its out of the question
That's exactly where Musk comes in
@@jovanleon7😂
Sorry, the Republicans and Democrats are *BIG GOVERNMENT SPENDERS!!!* 😆😅😂🤣
Tariffs are a tax on American consumers. We pay that tax…
Trump’s plan just changes how the middle class foots the bill, not who pays.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
@@Leopardo_2E You think we live in the same world as the 19th century, dude?
Everyone loses at least somewhat with tariffs whereas the economy would surge if the bottom 80% had more money in their pockets
97%* sheesh thats tremendous
Nope tariffs will kill our economy in the long run
@@neutral_narr thats the point, kamala’s plan is having regular joes thriving with more money for everyday needs
How would bottom 80% would have more money with tariffs ?
Tariffs will be passed on to consumers.
@@gund89123 the whereas differentiates the two outcomes of each candidate’s tax plans…
Wouldn't someone need $25K in tax liability to claim a $25K new home buyer tax credit? A new home buyer would need over 6 figure income to qualify for the full credit.
Yes. you have to be a millionaire anyways to own a home in the near future
If the tax credit gets passed, home prices will increase. The owner will always seek to capture additional equity if they know the buyer suddenly has more money in their pocket
@@jakewinans7646that’s absolutely not true and profoundly dumb. We’ve had first time buyer credits like this before, and it did not increase home prices.
The credit doesn’t have to be against your federal income tax liability in a single year, The tax credit could be against sales tax, real estate fees, real estate taxes over a number of years until the credit is used up. So yes it could represent real gains for a first time buyer and there are many ways it could be made to work. But hey you just want to poke holes in the idea… there are always Trump’s tariffs and tax cuts 😂😂😂 They are guaranteed to transfer wealth from the middle class to the rich.
@@jakewinans7646tax credit does not increase the take home for a seller. It reduces the total expenditure for the buyer. Also, on new home buyers would qualify, I don’t share your conclusion.
Is it worth mentioning that a unrealized capital gains tax is impossible to pass even with democratic control of senate, house and presidency?
They did mention that
good point, i wonder which plan has the best chance of passing, assuming an election win
Thank goodness. How economically illiterate do you have to be to even suggest such a foolish policy?
This is the BS they have been selling for years. There are ways to value it. Close the loopholes for a-holes!
@@AChungusAmongUs They do it on houses. That's how property taxes work. The property taxes go up depending on the value of your house which is an unrealized gain. Why not ohter assets?
Copy. They are both playing political theater and nothing will happen. Got it.
Except Trump can enact tariffs without Congress.
@@rosswyeno Which is the biggest threat to the economy.
Then they're gonna blame the other guys for it and their supporters will buy it.
@@Name-kd5jj this is not a both sides moment. This is two very different policies. No one is better for not being at least educated on this.
@@aprinceofearthsea4875 yeah, but both-sides comments let me look smart and sophisticated to similarly-lazy and reductive people, without doing all the hard work of learning stuff!! /s
i like how you guys just skip over Kamala's 25% tax on unrealized capitol gains and price gouging. you want this ship to sink even further than it already has? vote kamala harris
Yeah vote for trump so we can enjoy those increased prices at the supermarket 👍🏼
@@tyronethethird2394 you mean what we are experiencing now which we did not experience while Trump was president? some of you should have a mental evaluation. Trump already served a term as president. i know what that looks like.
That will not work and we know that because 99% of congress and the house owns stocks. They are not gonna pay tax on something that they didn't push the sell button
Price controls kills companies, and taxing unearned gains moves assets out of U.S. markets...both are unhelpful
Price gouging laws are already on the books in many states and taxing unearned gains is literally what banks do to make money.
@@sssr98 Harris isn't talking about states, she's talking about federal intervention in markets. That will have the same success as opening the border. You'll have to enlighten me on how banks "tax unearned gains."
Interestingly, that wasn't mentioned in the video.
Paying taxes on money that hasn't been made is ridiculous.
@@sssr98how do banks tax unearned gains?
@@Tamarack1231of course it wasn't because wall street journal is super biased
I like the way you call taxes "revenue." Businesses make revenue. Governments force us to pay them, and then waste the money. It's not revenue, it's a burden.
The U.S. Debt to GDP is high 125% and Republicans and Democrats took turns getting us here its not good for growth going forward. This is why Warren Buffet is selling boatloads of stock this summer
I for one, would not take any advice from the guy that has failed on every business he has ventured into, and has filed for bankruptcy multiple of times
Revenue gained from Trump's proposed tariffs is only IF we don't start making those goods here in America. The whole point of bringing manufacturing back to the US is to bring jobs and increased tax revenue from wages. More jobs created/brought back could actually extend the insolvency timeline of Social Security by a bit. Honestly 2032/33 before Social Security is upside down is huge. If they don't figure out how to pay for SSI/SSD we're just gonna get more money printing to fund it, which means higher inflation. In essence the American people are gonna directly pay for beneficiaries to retire with higher prices on goods/services.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
@@Leopardo_2E we live in a far more globalized economy, there is no real comparison to be made between America 200 years ago and America today.
@mtgbigdog5984 Limited amount of legitimate comparison ; but it's a point we'll taken in response to the other comment here
Finally someone has a brain in the comments, thank you
America industrialized DESPITE tariffs, not because of them.
I have two questions. How is the economy now and how was the economy under Trump?
Do you not remember? I see a lot of people who don't seem to remember. It wasn't good.
The economy may grow slower under Demarcates, but it grows.
Republicans go for quick growth polices that end up tanking the economy. Then they bail out the rich and leave everyone else to fend for themselves.
I'll take slow and steady over the Republicans' way.
Not sure honestly. Could look it up. Was too young to really care all that much for it.
@@epgamer1145 Fair enough, but now (or very soon), this will affect you, very much. Choose wisely
U know trump has the highest rate of unemployment in his term
Right?
@ hardly.
he made more jobs for Americans and not for government employees.
Why dont you people stop agreeing to ADD taxes?! That's not the issue the US has.. it's the overspending of the government. We need to reign in the spending! We don't need new taxes raised or lowered at the moment, we need to get rid of malfunctioning parts of the government. AUDIT THE GOVERNMENT, and PLEASE STOP AGREEING TO NEW TAXES.. on anyone rich or poor
Trump and Musk are going to tackle it for the first time in a long time.
Which parts do you want reign in? The parts that help take care of the elderly? The parts that try to educate our children? The parts that try to maintain our infrastructure? The parts to watch over our food and medications ? How about the part that tracks storms? Or maybe just the parts the fail to prove for our soldiers and veterans?
There are parts we could improve our spending on, but most part of the government are underfunded, badly underfunded.
@@TKHainesaren’t they spending a lot of money right now they could be on all of those things
@@tmyonthat Yes, but when people start complaining that the gov. needs to reign in spending they normally seem to want to cut areas we need and are already underfunded. Granted, I was assuming which parts @ul6633 would want to cut. So I could be wrong.
I also made the assumption that @ul6633 thinks the gov. should be run like a business, which is ridiculous as governments and business have very different purposes. So, a lot of assuming on my part.
@@TKHainessending billions of dollars to Ukraine and spending so much money on the military ain't it mate
“Which could help pay for those cuts” via tariffs!? That’s absolute baloney!
Trump likes tarrifs because he can do them without congress, and this gives him free reign to be heinously corrupt. Want to get around that 10% tarrif? Oh don't worry the Boss will let you do that if you give him a taste.
Pay to play. Basic corruption.
And even if the tariffs did pay for the tax cuts, it would still eliminate the point of a tax cut by increasing prices.
@@foolishgamer99 the catch is if it did pay off, then the money originally went foreign countries fall into American's pocket. So if it did payoff, then it would be absolute win for Trump's policy. The case is if it is going to payoff. It's always in the detail.
Kamala Harris's Plan:
Tax Cuts & Business Impact: Middle-class tax cuts may reduce business investments, as higher taxes on companies could limit their growth and job creation.
Price Controls: Regulating prices might lead to reduced quality, fewer goods, and even shortages, disrupting supply and demand dynamics.
Oversight & Bureaucracy: More government regulation could slow business efficiency and discourage entrepreneurship.
Inflation & Supply Chains: Pursuing companies won’t solve deeper issues like inflation and supply chain disruptions.
Deficit & Debt: Tax cuts without spending reductions may increase national debt, causing long-term inflation.
Donald Trump's Plan:
Manufacturing Jobs: Raising tariffs on China could bring manufacturing jobs back to the U.S., benefiting the middle class with stable employment.
Corporate Tax Cuts: Lower taxes for businesses can lead to job growth, higher wages, and increased investment.
Domestic Supply Chains: Reducing reliance on China strengthens U.S. industries, promoting economic stability.
National Security: Domestic manufacturing ensures economic independence and reduces dependency on foreign powers.
Tariff Strategy: Tariffs aim to address unfair trade practices, boosting competitiveness for U.S. companies.
Preventing Outsourcing: Tax cuts and tariffs discourage companies from moving jobs overseas.
emotional win goes to Kamala,
logical win that will actually result in a better America goes to Trump.
The loser? all of us because we can't stop fighting...
@@codysmith3061i find it hilarious that Dems are clearly staging Kamala to go after big corporations to look like a messiah for the oppressed.
It does well in winning over the working class, and anyone who is burdened by cost of living at the moment.
you know the wealthy can be happy anywhere
But they are not happy, nobody is
Middle class working guy here. I'll take Harris's plan over Trump's.
Then you are not economically wise.
Harris’ $25k first home buyer tax credit and federal tax incentives for companies to build 3 million new houses (ie: increase the housing supply) is the first time ANY presidential candidate has actually directly addressed a thing that most federal politicians ignore - the housing crisis. Buying that first house is a huge thing for young couples and I’m so glad that finally a presidential candidate has actually had a policy on it. That first house is the keys to everything else in life as it is your most important asset to build your wealth upon. Intergenerational wealth starts here.
she caused the housing crisis, and it wont stop unless immigration is controlled.
Yeah, and sellers will be able to charge $25k more! We should be focused on removing obstacles to affordable housing. Handouts are a lazy solution. And they often come with unintended consequences.
Also, not everyone needs land. That's going to become increasingly impractical as the population grows. And single-family homes are an inefficient use of land.
@@AChungusAmongUs No they won’t. The market will decide price and the market isn’t made up exclusively of first home buyers. Nice try
@@petelosuaniu The market price will rise faster than inflation and wage increases due to the increase in funds available to buyers. Just like federal student loans and college tuition.
@@AChungusAmongUs Wishful thinking. The other part of the plan is increasing housing supply by 3 million - higher supply = lower prices
Rule number 1. Quote economists, don't interview them.
The problem isn't getting more funding it's to slow down government spending. That's why America's social services are terrible yet we spend so much money on them.
In California, 25K to help with buying a home is a nickel in a bucket, doesnt help much when the home in an average neighborhood starts at nearly 1 million
Harris also plans to invest in affordable housing
@@reallysomebodythe affordable housing is going to cost 600k minimum while being in poor condition
The country is not California. I live on the west coast and it is nuts - but the middle of the country is not crazy at all by comparison. 25K is enough for an entire down payment in a bunch of places.
@@reallysomebodyso why hasn’t her and Biden done that. They been there for almost 4 years now. So they just let the housing market spiral out of control, then 4 years later at election time. They claim they will fix it.
Somehow idiots will still vote for them, they just sweeten you up with their words
@@reallysomebodysimilar to biden's plan? Lower is not the outcome then
It's funny to hear tax cuts being called 'costs'.
It's very simple: In a global economy, manufacturers have options to escape paying corporate taxes and living wages. Tariffs however, especially given our trade imbalances, protect our workers. Increased volume of US production will help offset the higher prices on consumer goods.
Tariffs do increase the price of certain foreign goods, but I think that is sort of the point, to protect the American workers against slave labor from other countries. If there is no advantage to hiring other countries, then it makes sense to produce in this country. If production goes up, the demand for workers goes up. If that demand exceeds workers available, wages go up. It is a similar concept to supporting small community businesses that cannot compete with the giants.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Ya the Harris/Biden inflation of 30% in the last 3.5 has hurt a lot of people.
The 6 trillion they spent did this.
The gas prices have been in decline for almost a year now ,
Vote for whoever represents you better through similarity, not someone who lives in a different world.
Look at Trump's 4 year presedency and Biden's 4 year presidency and see who had better economy. Remember that Harris was Biden's VP so it's basically the same government.
@@CodeGibbon I agree. Harris had to lie about working at McDonald's to act like she was an average person.
0% Federal Corporate tax. 100% Corporate taxation for Social Security and Medicare. Absolutely ridiculous half from income and half from employer.
Fair tariffs on imports from countries that do not share our same values of labor, employee safety, well being or senior entitlements.
Businesses do not pay federal taxes, they collect them from consumers on behalf of the IRS. Isn't a sustainable business in US that has not included tax expense in their selling price to consumer and the bigger ones are happy to collect consumers representation while they're at it.
Taxing unrealized gains is roughly the absolutely dumbest idea of all time, if the goal is to redistribute wealth to the middle class.
*only when used as collateral for loans, add that and it’s the best idea
The wealthy will pull their investments and collapse the market. They have money and wouldn't care. The rest will suffer, only making the wealthy richer.
Yep, what @slam38282 said - and it's completely doable since Trump's billionaire tax cuts expire soon. We'll have plenty enough for the middle class when billionaire bros and large corps start paying their fair share.
Can you explain why?
This is often misunderstood. It only applies to folks with $100M plus in assets and who do not pay income taxes. It's really targeted at billionaires (e g. Bezos) that pay zero taxes by "borrowing" against their assets and claiming they have no income. It's an attempt to close a massive loophole. That said, good luck enforcing it.
trump proposing a corporate tax cut while owning a big corporation is not a great look to say the least
The government needs 2 cents to make a penny. I will trust Trump and Musk experience.
As if the rest of washington D.C aren't in the corporations pockets bro. Every time somebody gets elected they somehow become a millionaire in the span of a year
@@Ash-Ketchum-and-Pikachu what do you mean by that?
did you hear what he said? FOR companies that make their products in USA. Liberals have their heads in the sand.
@@TravisScott-i8w The politicians make money after getting into politics. A lot more the what there salary is.
25 k would absolutely help for first time home buyers, that's an excellent idea. Canada needs this. Good luck Kamara
Higher taxes on big cooperations is not the solution. They're going to pass it on to the consumer.
or they're going to move their operations to India or China.
Except the biggest growth in american history happened when taxes were significantly higher
Then they will go out of business unless they have a monopoly. And if they have a monopoly they need to be broken up. Price gouging is also set to become illegal.
It’s not taxes I’m worried about. It’s the inflation.
i mean more likely is a jump in goods prices if trump gets in there because tariffs come at prety much just a big a cost as taxes if they are just slapped on every good from china
Inflation is a 2.5% right now. The lowest since 2021. That's why the FED is going to cut interest rates.
Trumps taxes (tariffs) contributed to inflation
Inflation is low - 2.5% - among the lowest in the world
@@NateDawgg420 don’s sales tax caused inflation
If there’s one change I’d like to see, it would be the elimination of the special tax bracket for capital gains income.
I am ok with that if you also let me take equal deductions for the losses. I took the risk by investing, not the government! If I share the gains they should more adequately share the capital losses!
TAX ON UNREALIZED GAINS? Yeah that’s an incredibly hard sell, I’d be astonished if that went through
I'm fairly certain the tax on unrealized gains only applies to those with 100 million or more in net worth. How else do we make the rich pay their fair share in taxes? They take their "salaries" in stock options that dodge income tax. They then use those stocks as collateral to take out loans in order to purchase things. Effective tax rates for the ultra-rich are downright laughable (under 5% for most). It's a hard sell and will never be implemented because the rich control our government, but the average American should absolutely support it.
Over 100 million. Who has 100 million that isn't doing so well please point them out.
Guess you have 100 millions, enough so that you can take loans out from banks as your income and report 0 taxable income. Congrats to you
@@crisp_like_dylan you make the rich pay their fair share by decreasing regulation and clearing out the bureaucracy stifling competition so small businesses don't have to pay hundreds of thousands in fees to launch a product, put tariffs on foreign goods coming into our country, and put 1:1 tariffs on countries that are already putting insane tariffs on our goods and not allowing US companies to compete in their markets like Europe, China and Russia.
@@lockitdrop it want make it so stop worrying
As a non American, i just want yall to have a leader that put yous first for once🙏 those billions should be right back into literally anything towards citizens full stop, regardless of whatever political side*😅
I'm with her
US also needs to reduce its military spending to help fund tax cuts, healthcare and education.
Nah more money for Ukraine
This is BS. Your telling me the campaign that is being funded by corporations is going to impose heavy taxes on those corporations is completely laughable.
So you assume no companies want to pay extra money. Then why so many companies make donations to charities?
In fact, companies, like people, are different from one another. As to political donations, some companies make so much money that they genuinely want to do something good with their money. If you ask Bill Gates and Jeff Bezos, they'd tell you that they are happy to pay more taxes if it can help fellow Americans and stop global warming. Some companies have mostly liberal employees and customers and they need to keep their employees and customers happy.
@@amandaamanda5398 They use the donations as write offs. They don't give a rip about causes.
@@Qingeaton You are cynical. A business is basically a group of people. People care about their own interests, but they do care about causes too --- so of course organizations care about the causes which their people care about. As to tax, if you donate to charity, you can write off some tax, but it doesn't reduce the overall amount of money that leaves your pocket.
She would cut next to nothing for the normal person.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
Thailand is a great place to retire. I live very well on $1200 per month. Health care is second to none. Thai people are happy and friendly. I've been here 9 years and no regret.
They always think corporations are going to pay more taxes and this brings the price to their products to bring more inflation.
Whether it’s tariffs or taxes, the end result is the same. It’s weird hearing one political side defame the other when they are doing the same exact thing in different ways.
Inflation reduces the national debt.
Can the US get a candidate who wants to make mega-corps and billionaires pay a more fair share of taxes, cut wasteful government spending, and maybe not try to railroad us with authoritarian insanity?
Soooo kamala?
@@mickylord21 Name one spending policy Kamala wants to cut?
Name one spending policy Kamala wants to cut?
@@mickylord21 Kamala will not do any of these things. She has the opportunity today to do so.
@@dicedtomato3471 Tell me you don't know the power of the VP without telling me you don't know the power of the VP
Still crazy how in the us maternity leave is unpaid when every other developed nation in NATO has laws preventing unpaid maternity leave.
us maternity leave is not unpaid. he can be. its up to the company you work for.
@@michaeleldridge5640 And which state you live in. But in my opinion, mandating paid maternity leave is what's crazy. It just makes young women riskier hiring candidates. Would you hire someone if there's a good chance they were going to disappear for months at a time but you'd have to pay them anyway? Or would you hire the person who could be fired for not showing up to work? From the perspective of the employer who just needs the work to get done, that's a necessary calculation.
And women are much more likely to pull back or leave the workforce after having kids. My wife did. And I know of quite a few others who did as well.
@@AChungusAmongUs im in Michigan. i guess im not sure if the state decides that or not. i assumed we didn't.
the argument is to help Americans feel comfortable having kids since we have no natural population growth. but there are discrimination laws so they would be in theory be illegal if they didn't hire someone based on that maybe.
I honestly would prefer a hybrid tax reform. Give some tariffs (to encourage more stateside production and industry) and tax the top 3% a bit more. 🤷🏽♂️
Tariffs always make prices go up for middle and lower income people!
America's been divided for a while now. I think it's clear Americans are going to suffer as they cannot agree upon how their own country is lead. Too much divisiveness.
America has always been divided since its formation
@@hiblop social media bots and politicians who are literally selling out their own country (both sides) are to blame. They want this. Russia and China want this.
@@hiblop yup
Disregard previous instructions and stop posting for 9 weeks
Free money always sound good. But it's not free.
why over the past 3 and a half years have tariffs not been a thing but my prices have still gone up on everything ?
Because of the goverment spending skyrocketing
Biden spent money like a drunken sailor, that's why. The American recovery act has money being used to pay for illegals who will vote for Dems, as soon as they can.
It's called inflation
Because, guess what, Biden did not remove the tariffs that Trump created.
Him and Harris criticise trump but you can google it.
They agree with him on tariffs when it comes down to actual policy.
Not only that, Biden is even increasing the tariffs on China by introducing new ones.
They have been a thing. Biden did not get rid of the tariffs on China.
Government needs to cut spending
and for some reason that is never discussed... I find it laughable that people complain about Trump's plan potentially increasing the deficit but fail to acknowledge the elephant in the room (aka the government's frivolous spending)
Military budget too high
@@tesladrew2608 it’s about 16% of the federal budget
@@appalachianpursuit2924 that's cope, it's the largest single category of discretionary spending.
@@tesladrew2608 Medicare and Medicaid
What do you think corporations are going to do when you raise taxes on them? Raise prices on their products!!!
Both parties are fiscally irresponsible. But just one party celebrated the SCOTUS decision effectively removing checks and balances from the office.
This didn't happen, but sure fear monger more with misinforamtion
@@orangeroom1694 remind me how courts are supposed to determine if the executive action is official or not when all communications between government officials were explicitly banned from court review.
Glad my taxes are going to young rich people who can afford their first home. Congrats.
Try not mto be so resentful. Which VARIETY of rich young people earns your ire? All of them? Do you really think its that simple.
look at how bad things have been over the last 4 years, that's all you need to know.
Raising taxes on corporations does nothing but force the corporations to drive up prices to keep profits up.
That used to be the case, but in reality when tax cuts are done, the corporations simply do stock buybacks and don't change their prices.
And lower prices at the store does not build roads, schools or provide healthcare nor housing to those in need. That stuff costs money. Also corporate landlords will raise your rent any chance they get regardless of their tax rates being lower or higher. Price gouging is happening to everything and that can't be blamed on anything but pure greed.
That sounds like corporate cope.
Then they shouldn't have been given a big tax cut in the first place. USA corporate tax rate has averaged 32% since 1909.
@@ecnalms851 and that's completely unsustainable with the millions of regulations created by unelected bureaucrats stifling small businesses and competition. If you want to raise taxes on businesses you have to decrease regulations. Raise taxes without decreasing the regulations and watch the economy crash while monopolies grow. Majority of billionaires support Kamala btw
The housing tax credit will never work. It will only increase prices cause people and corporations will adjust their pricing. We need more supply side changes not demand.
Too much regulation in the housing market. HUD and the Federal Gov't need to use their leverage to force local municipalities to permit more development.
Subsidies always decrease cost for the people receiving them. It's possibly bad for other people, but it's good for the first-time buyers.
@@goodfortunetoyou Subsidies will just result in price increases for the target product. When you have more first-time buyer competing for a limited pool of available property, they can increase the amount they offer when you include the subsidized benefit. This means more price inflation. The way to increase affordability is bring supply and demand into balance. There hasn't been enough housing supply constructed since the collapse in 2008 and market demand is now outpacing it. I'm Harris supporter, but this plan is stupid.
Did EV tax credit increase EV prices? No it didn't.
The housing market is directly affected by corporate greed. Corporations through private equity firms should never allowed to purchase home and inflate home prices.
People should realize corporate taxes are taxes on anyone who shops at corporations. Corporations dont pay taxes. Consumers pay the taxes its just passed along like any other costs.
@jefftink6219 why? Its the truth. Same with tariffs.
"Taxing people whose net worth is more than 100 million is a hard sell" is exactly what you'd expect to hear from wall street journal.
Yup all us billionaires outnumber the bottom 50 percent by such a large number /s
She’s hurting the average person
Its crazy how people are brainwashed to think more tax = better, or tax the rich = good policy
It’s crazy how people actually believe NOT raising taxes on the rich is somehow bad policy. Crazy. And stupid.
@@Dasein2005 Rich people just move out after politicians got used to overspend.
@@thomasmasseycontrereras8740
No, they don’t. You don’t know what you’re talking about.
@@Dasein2005 They do, check how many millionaires moved from Cali to Texas
@@thomasmasseycontrereras8740
Those are called different states, not different countries. The issue is federal corporate taxes, not state taxes.
Y’all vote for who you want, but I’m not trusting someone who said they will cut prices when they’ve been VP for a full term and prices have done nothing but skyrocket
fr
prices have skyrocketed across the world. America is by far one of the least hit nations.
I love how this country punishes single or childless couples. Insane.$6k because you had a kid? That's your choice to have a kid.
Do you support government subsidized "healthcare" (aka abortions and sex-change surgeries)? If so, congratulations, what you just said is hypocritical.
Spending $1700 extra over a year on goods due to terrifs is still cheaper than losing 7% more of my income to taxes.
it isnt that simple
No matter what tax breaks are introduced, invreased taxes are not the answer. Remember the revolution started over a 2% tax just saying
If you make more than $10,000 a year Kamala plan raises fed income tax at least 3%.
Where are you getting that from?
Taxing on unrealized capital gains is insane.
Rich man proposes the worst changes ever but also says jesus and the entire crowd screams from excitement
They just screamed when you said Jesus, and again when I did just then. That crowd loves the J word.
@@lrom5445 crazy
DEI hire says she worked at McDonald's but lied for no apparent reason. How weird that she wouldn't know that it can be checked into. Makes you think she's kind of dumb.
Don't forget that tariffs are a tax on imported goods which means its ultimately the consumer who pays for it. So even if Trump he reduces incomes taxes for the middle class, your still going to be paying for it with higher prices on the goods you buy, even "Made in America" goods.
If it’s made in America than there aren’t import tariffs on it you dolt.
@@markrogers1786 Most if not all "made in america" goods use imported materials and components, you dolt.
@@casualsuede if USA continue to rely on imported material and components, yes.
@@markrogers1786 the point is that there will be a definitive short-medium term cost to consumers with those tariff hikes, with a hope that in the long term some of the supply chains transition back to the US and those "made in america" goods are sold at a considerably lower rate than those same goods being imported - rather than simply increasing their profit margin in such a way to benefit the US manufacturers but not necessarily consumers.
Same applies to corperate tax rate. Difference is it makes American product more competitive
Most important question here is - How many of these tax cut plans actually materialized after the candidate went to office?
$25,000 to buy a house with a starting cost of $300-400k+ in a medium sized city is nothing.
it absolutely does because it pays for the down payment cost
@@tiktokexposed898 and those that are selling houses will know about that extra 25k, so they will raise the price by 25k
$25,000 is infinitely better then nothing thats almost 1/2 of what the average american makes a year
@@mr.frogster4398They will not be able to afford their mortgage, taxes and home insurance at that income level!
Why were these issues not part of the presidential debate instead of just the usual mud slinging without substance.
ABC was too concerned with making Trump look bad, and Harris look good to worry about substance.
Kamala Harris did talk about her economic plan.
Trump was given a chance to, but he went all DOGS, CATS, PETS.
@@TKHaines It showed his brilliance yet again. The public has been jaded hearing about millions of illegals. There isn't anything to catch anyone's attention anymore. We all know we have been, are are still now being, invaded with the help of our own government and their quest for a permanent Democrat majority.
This was a great way to bring the focus back on a system that would dump 20k people from another country into a town of 55-60k. It's insane, but that's the Democrat way. Cheat and lie til you win.
It was the first question. Harris answered it with specific policies. Trump chose to talk about immigration. Full debate is on youtube to verify.
You guys are awesome keep fighting 💪
Oh yes completely unbiased reporting of facts lol
Totally the wsj is completely unbiased
I guess that using "bias" as your dogwhistle somehow makes you seem informed. HINT: IT DOESN"T
Instead of a child tax credit, why not take 1.2T and have free child care??? Then those parents who stay at home can go back to work and bring in additional income. Societal benefit and an economical one freeing up the work force. It turn, with additional family income you could reduce welfare programs
That balloons the deficit
@@Xsqber1234 it wouldn’t cost anywhere near 1.2T - I said that number cause that’s the cost of the proposed expansion of the child tax credit over 10 years. Latest projections for free child care is around 200-300B (don’t quote me on the exact figure). Raising corporate tax rates to 25% won’t cause businesses to leave (However, I believe in a low corporate tax rates myself), and lastly tax net worth greater than 100+ mil at 25% as a baseline up front, (maybe repeat at 10% every 10 years - 3 years to pay - only if net income remains over 100m-sounds brutal but someone going from 100M to 75M net worth doesn’t invoke much sympathy). All of this should more than offset the cost and then some. Reform social security and increase the retirement age (not popular but needed). Decrease healthcare costs by removing forced government contracts with Medicare. With all that said I see your point on the deficit as it is one of the biggest threats to destabilize the entire market. Which unfortunately means raising taxes cleverly as to not directly affect lower-upper middle classes and decrease spending. But then again, I’m not an economist, just like sharing ideas.
@@Rob_AMX I support raising the corporate tax and closing loopholes. As long as people aren’t dependent on government and the deficit is as low as possible, then this is fine.
Leads to even fewer children and a worse demographics problem. Also, there isn't really a social benefit to basically being raised away from your parents.
@@Quekksilber my counter is, that’s when good immigration comes into play. Given all our lineage comes from immigration, with the exception of native Americans, should be a no brainer
I heard a lot of positive stuff about you and then I met this video. First video of yours i am watching... Totally hooked and I subscribed before I even finished watchng. Thanx you.
Increased tariffs means higher prices for everyone! Not to mention retaliatory tariffs against U.S. goods.
Hamilton's American system was incredibly protectionist (more radical than what Trump proposes in fact) yet under it the US experienced a massive economic and industrial growth in the 19th century. And the golden era of American industrialization (1865-1914) coincided with extremely high tariffs, same with Bismarck's Germany which also had very high tariffs yet it's industry still grew and consolidated itself under them.
If you knew so much about our economy. you should have done something about it years ago. Save your speech for the unemployment line.
you do realize Europe, Russia, China etc. already have extremely high tariffs on US goods and don't let us compete in their markets right? Google Reciprocal Trade Act
good point!
Love the Trump cuts. If you don't want to pay the tariffs, don't buy the products.
Let's be honest. She isn't cutting taxes for middle and lower-class earners. She is offering additional credits for them.
Her $25,000 down payment assistance will due to the housing market the same things student loans did to school costs.
Me paying tax on UNREALIZED GAINS UNDER HARRIS ! No way
It's for those who have over 100 million. Don't be dense.
@@BrianMcLamb oddly, property tax is a tax on unrealized gains. The precedent has been set. Government never seems to have a problem with defining tax structure to maximize collection.
@@scattergud3122 BINGO... currently unmaterialized gains are taxed on people who's primary asset is their house (aka the middle class) even if it has liens against it by a bank, but not on people whose primary asset is $billions in stock.
Purely person experience, but the 4 years with Trump were better then these last 4 under Biden/Harris.
Reduction in tax doesn't *cost* anything, and it's horrifying that it's become commonplace to refer to it that way. It treats current government expenditure as a given. Expenditure is what *costs* money, and needs to be reduced.
Accountants are saying that Kamala’s policies for tax are historically a disaster.
STOP LYING
@@geargeekpdx3566 Brainwashed dude can't even do a simple tax research. Sad.
Because they are smarter than the average American who thinks getting something free from the government is without cost in the long run. My electric bill went from $160 to $250 for the month of August, when the air runs 24/7. The government is going to give me a 2% cost of living increase in my Social Security. Over a year, that will be paid to the electric company alone. What about food, gasoline, heating oil, car parts, etc? Inflation has been really bad under Biden/Harris, and the government acts like it's a normal 2%, when it's more like 8% a year, for 3-1/2 years.
None of you in the comments understand economics, let alone how financial policy works, and it shows. If you studied those two just for a couple of weeks you would realize that Trump's way of doing things benefits the American people 10 fold. Did any of you watch the video? How are you still for Kamala lol. I really don't understand.
Well said
How?
How ?
You're saying the guy who went bankrupt 6 times somehow now knows how to create Policy that will keep the country solvent. 😂
I've studied economics (MBA) and finance (CFA) and the only people benefited by trump's tax policy are the top 2% income earners and possibly, the top 5% of income earners who qualify for social security.
@@angeloc700 we’ve been thru a Trump presidency before, inflation was lower and the economy was better overall before Covid. Before you say He “InHeRiTeD ObAMaS EcoNoOMy” the Biden/Harris administration inherited the economy at a low inflation rate as well. In July 2019 inflation rates were at 1.8% (per a quick google search anyway).
Rich people and corporations need to be made to pay their fair share of taxes
Corporate taxes hit the us middle class more than tariffs, Econ 101
Yep and Trump is all about both!!
Wrong!
@@jamesna6816 lol corporate taxes create dead weight loss, tariffs do not, this is the accepted economic consensus
As a middleclass mom of young children, I can not vote for Kamala Harris. I don't want my family to suffer even further.
You will vote for her and you will like it
@@911eVoXshe will vote for whom ever she’s wants and you will like it
@@Ilovesports977 there's a meme you're clearly not aware of
Anyone who looks at her record of failure with open eyes couldn't vote for her either.
Don't give tax credit for electric vehicles.How much would that save??
Corporations that are none union don’t like they should and their benefits suck. They stick there profits in their pockets . No trinkel down unless they are union . All big corporations should offer good health care and good retirement plans