Harris economic proposals

[fantome profane]

But that actually exists.

Might not an hour from now.

 

[Twilight Hue]

Could you show me a comparable list of Trump's economic plan in equal or greater detail? So we could compare.

Your wish is my command.

Donald Trump Laid Out His Economic Plan This Week—What You Need to Know

Republican presidential candidate Donald Trump laid out his economic plans in a speech Thursday in New York.

www.investopedia.com

No where are the Harris plans?

 

[sun rise]

Your wish is my command.

Donald Trump Laid Out His Economic Plan This Week—What You Need to Know

Republican presidential candidate Donald Trump laid out his economic plans in a speech Thursday in New York.

www.investopedia.com

No where are the Harris plans?

Here's What's In Kamala Harris's Economic Plan

Vice President Kamala Harris laid out her economic agenda Friday, promising tax breaks for middle-class families and to crack down on companies raising rent and grocery prices.

www.investopedia.com

What Kamala Harris’s Economic Plan Could Mean for Your Future

Kamala Harris’s economic plan includes priorities such as lowering the cost of living and addressing income inequality.

www.investopedia.com

Note that these links are also to investopedia.com

 

[fantome profane]

Your wish is my command.

Donald Trump Laid Out His Economic Plan This Week—What You Need to Know

Republican presidential candidate Donald Trump laid out his economic plans in a speech Thursday in New York.

www.investopedia.com

No where are the Harris plans?

Tax cuts for millionaires and billionaires, tariffs which will increase the cost of everyday household needs for consumers. Land, but no money for new housing. And crypto currency.

Brilliant.

 

[Revoltingest]

Might not an hour from now.

That's a lake in AZ, not FL.

 

[Regiomontanus]

Tax cuts for millionaires and billionaires, tariffs which will increase the cost of everyday household needs for consumers. Land, but no money for new housing. And crypto currency.

Brilliant.

Yep. This is another example of people (blue collar working folks) voting against their best interest. Crazy.

 

[Pogo]

Just my personal opinion on each of the bullets:

• restoring the child tax credit; Yes - I'm all for this.
• creating a $6,000 credit for the parents of newborns in their baby’s first year; Yes - I'm all for this.
• stimulating the housing market; Super vague. How does she plan to accomplish this?
• subsidizing first-time home buyers; I'm on the fence. We already have FHE loans. Why are those insufficient? Why should the taxes I pay help someone else buy a house that apparently they cannot afford since they need the subsidy?
• eliminating unnecessary college degree requirements for federal jobs; How about eliminating a bunch of worthless federal jobs?
• subsidizing child care (thereby limiting child-care costs to 7 percent of lower-wage earners’ income); I'm OK with that.
• raising the corporate tax rate to 28 percent; Feels like a big jump from the current 21%. How about 24%?
• expanding the tax credit for start-up businesses to $50,000 (with the goal of 25 million new business applications by the end of her first term). Cool. I like it.
• become the global leader in everything from artificial intelligence to clean energy to aerospace to biomanufacturing; I suspect the US is already the global leader for these things.
• double the number of paid apprenticeships; Vague. What apprenticeships? What's the issue here?
• reform tax laws to allow more employee profit-sharing; Would want to see the details of how this works.
• incentivize investment in factory towns; 100% yes.
• cut red tape in permitting for construction. 1,000% yes.

At 21% the corporate tax rate is below average for western nations, 28 would put us somewhat higher than average but I don't think enough to scare business away and would help the deficit a lot. Trump who reduced it to 21, wants to reduce it further to 15%. It should also be noted that the main effect of Trump's reduction was to allow companies to buy back stock and they did not spend it on wages or other investments, though the loss of revenue has ballooned the deficit.

As to FHA? loans, they still require the down payment, I understand these are subsidies for that which allowed a friend to actually buy a house rather than rent. He is paying it back, it is just another loan to indemnify the normal lender for what they would normally require as a downpayment. Overall I think it is a good idea.

 

[Revoltingest]

At 21% the corporate tax rate is below average for western nations....

Remember that this is just one component of
taxing corporations. When dividends (which
aren't a deductable business expense) are
distributed, they're taxed again on personal
income tax returns.
This must be considered in the total picture
of tax policy.

 

[Pogo]

Your wish is my command.

Donald Trump Laid Out His Economic Plan This Week—What You Need to Know

Republican presidential candidate Donald Trump laid out his economic plans in a speech Thursday in New York.

www.investopedia.com

No where are the Harris plans?

The one that would increase the deficit by 4+Trillion dollars and cost the average person about an extra 2600$ after tax reductions unless you were in the top1% in which case it would actually benefit you.

Yeah it was dismissed as absurd when it came out.

 

[Pogo]

Remember that this is just one component of
taxing corporations. When dividends (which
aren't a deductable business expense) are
distributed, they're taxed again on personal
income tax returns.
This must be considered in the total picture
of tax policy.

Yes, I know, but that was part of the point, rather than pay dividends with the profit, they just bought back the stock so they would have less dividends to pay in the future.
At any rate, Trump wants to lower the rate to ridiculous which amounts to charging your mortgage on a credit card because it will just add more to the deficit which you will still have to pay later. Not sustainable.

 

[Revoltingest]

As to FHA? loans, they still require the down payment, I understand these are subsidies for that which allowed a friend to actually buy a house rather than rent. He is paying it back, it is just another loan to indemnify the normal lender for what they would normally require as a downpayment. Overall I think it is a good idea.

There are problems with this subsidy though.
People borrow more money, & have less equity.
Any hiccup in the economy increases the risk
of their losing their home. It also distorts the
market by increasing prices.
Renting has some advantages over home ownership.
- Lower cost to move in / move out.
- Easier to re-locate for work / school.
- Easier to find a right sized dwelling, especially
if one can live in a smaller home.
- Lower cost, by the time insurance, maintenance,
capital expenditures, utilities, & opportunity cost
(capital investment) are accounted for.
- Higher density housing means less natural & farm
land is paved over.

 

[Revoltingest]

Yes, I know, but that was part of the point, rather than pay dividends with the profit, they just bought back the stock so they would have less dividends to pay in the future.

Stock buy-backs actually boost earnings per share,
which will increase dividends per share.
Are there problems with this?
Do those problems offset the benefits?

At any rate, Trump wants to lower the rate to ridiculous which amounts to charging your mortgage on a credit card because it will just add more to the deficit which you will still have to pay later. Not sustainable.

Clarify?

 

[Regiomontanus]

At 21% the corporate tax rate is below average for western nations, 28 would put us somewhat higher than average but I don't think enough to scare business away

Even at 50%, there would still be no company on earth (properly managed) that would decide to withdraw from the American market. LOL

 

[Revoltingest]

Even at 50%, there would still be no company on earth (properly managed) that would decide to withdraw from the American market. LOL

Do think there'd be no adverse effects from a big tax increase?

 

[Regiomontanus]

There are problems with this subsidy though.
People borrow more money, & have less equity.
Any hiccup in the economy increases the risk
of their losing their home. It also distorts the
market by increasing prices.
Renting has some advantages over home ownership.
- Lower cost to move in / move out.
- Easier to re-locate for work / school.
- Easier to find a right sized dwelling, especially
if one can live in a smaller home.
- Lower cost, by the time insurance, maintenance,
capital expenditures, utilities, & opportunity cost
(capital investment) are accounted for.
- Higher density housing means less natural & farm
land is paved over.

Spoken like a true landlord but there are nuggets of truth in what you say.

 

[Regiomontanus]

Do think there'd be no adverse effects from a big tax increase?

Not sure. What do you think?

 

[Pogo]

Stock buy-backs actually boost earnings per share,
which will increase dividends per share.
Are there problems with this?
Do those problems offset the benefits?

Clarify?

His tax cuts amount to shortchanging the governments day to day operating budget by borrowing money that will have to be paid back at whatever rate, but unlike sane borrowing where you buy a house or a piece of equipment, you are just borrowing to pay day to day bills. Can be useful in a recession, but we are not in one and this is more likely to precipitate one when we have to stop buying so we can pay off what he borrowed in the first place. Republicans have been suggesting this since Reagan and it has never worked and trumps version doesn't even begin to make sense for anyone but the major owner class.

 

[Revoltingest]

Spoken like a true landlord but there are nuggets of truth in what you say.

I was also once a licensed broker who sold houses.
So I see a bigger picture than most other yahoos.
When Mrs Revolt wanted to buy daughter an
apartment in NYC, I ensured this wouldn't happen.
Real estate ownership made no sense for her at
the time. But once she married & had her own
daughter, the picture changed. With my blessing,
they bought a house.
It's stupid to say either always buy or always rent.

 

[Pogo]

There are problems with this subsidy though.
People borrow more money, & have less equity.
Any hiccup in the economy increases the risk
of their losing their home. It also distorts the
market by increasing prices.
Renting has some advantages over home ownership.
- Lower cost to move in / move out.
- Easier to re-locate for work / school.
- Easier to find a right sized dwelling, especially
if one can live in a smaller home.
- Lower cost, by the time insurance, maintenance,
capital expenditures, utilities, & opportunity cost
(capital investment) are accounted for.
- Higher density housing means less natural & farm
land is paved over.

For transients, yes some benefit, but at the cost of any long term equity, it is about the only thing the average person can use to safely build equity if you make the basic attention to maintenance etc. As for multi dwellings, it is called cooping or whatever, you own the apartment.

 

[Revoltingest]

His tax cuts amount to shortchanging the governments day to day operating budget by borrowing money that will have to be paid back at whatever rate, but unlike sane borrowing where you buy a house or a piece of equipment, you are just borrowing to pay day to day bills.

I'm not defending policies of cutting taxes
while not cutting spending. I addressed the
mis-understanding of corporate taxes.

Can be useful in a recession, but we are not in one and this is more likely to precipitate one when we have to stop buying so we can pay off what he borrowed in the first place. Republicans have been suggesting this since Reagan and it has never worked and trumps version doesn't even begin to make sense for anyone but the major owner class.

Both parties employ deficit spending every
administration & every economic condition.
I oppose this.