Kamala Harris's Economic Agenda: Capitalism for the Middle Class

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Kamala Harris's economic pitch, often described as "Capitalism for the Middle Class," focuses on several key areas aimed at benefiting the middle class through a pragmatic and pro-business approach. Here are the main components of her economic agenda:

1. Tax Policies

• Corporate Tax Rate: Harris proposes raising the corporate tax rate from 21% to 28%. This increase is intended to generate revenue that can be used to support middle-class tax cuts and new tax breaks for parents and entrepreneurs.
  

  

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• Unrealized Capital Gains: She plans to tax the unrealized capital gains of individuals worth more than $100 million, using the revenue to sustain tax cuts for the middle class and offer new tax breaks.
• Tax Credits: Harris aims to provide tax credits to boost investment and create industrial jobs. This includes a $6,000 tax credit for families during the first year of a child’s life and a $3,600 tax credit per child for working families.

2. Investment in Domestic Manufacturing

• $100 Billion Manufacturing Plan: Harris has outlined a $100 billion investment plan to boost domestic manufacturing. This includes tax credits for companies investing in sectors like semiconductors, clean energy, and artificial intelligence.
• Cutting Red Tape: She emphasizes the need to cut bureaucratic red tape to make it easier for businesses to operate and grow in the U.S..

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3. Support for Small Businesses and Entrepreneurs

• Tax Breaks: Harris plans to expand tax breaks for small businesses, including a significant increase in the small business startup tax credit to $50,000.
• Apprenticeships: She aims to double the number of registered apprenticeships, focusing on training more people in skilled trades and emerging technologies.

4. Housing and Cost of Living

• Housing Initiatives: Harris proposes a $25,000 tax credit and other incentives for first-time home buyers. She also plans to increase the supply of affordable housing by cutting red tape and taking on corporate landlords that increase rental prices.
• Price Controls: She advocates for federal bans on corporate price gouging to help control the cost of living for middle-class families.

5. Pragmatic and Pro-Business Approach

• Business Environment: Harris promises to create a stable business environment with consistent and transparent rules. She aims to work with the private sector to drive economic growth while supporting labor unions and middle-class workers.
• International Trade: She plans to reform international tax laws to prevent corporations from avoiding their fair share of taxes and to discourage outsourcing and inversions.

6. Contrast with Trump

• Tariffs and Trade: Harris criticizes Trump's aggressive tariff proposals, arguing that they would increase costs for middle-class families. She labels his tariff plans as a "national sales tax" that would raise prices on everyday goods.
• Economic Vision: Harris contrasts her middle-class-focused economic vision with Trump's, which she claims benefits the wealthiest Americans and big corporations at the expense of the middle class.

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Overall, Harris's economic pitch aims to balance pro-business policies with measures designed to directly benefit the middle class, emphasizing tax cuts, investment in domestic manufacturing, and support for small businesses and affordable housing.