Differences in Harris and Trump's tax cut plans for Trump's 2017 sunsetting tax cut

[bendog]

At the heart of the expiring provisions are income taxes that Republicans cut virtually across the board in 2017 for individuals and families. Other provisions facing extinction include a bigger standard deduction, a doubled Child Tax Credit and estate tax cuts for taxpayers who pass on money and property to their heirs.

While Trump wants to leave all of those cuts intact, Harris has embraced raising taxes on those making above $400,000, arguing that wealthy Americans aren’t shouldering their fair share and that the 2017 cuts overwhelmingly benefited them. She also has indicated she backs increasing taxes on capital gains, such as stock earnings, for high-earners and tightening rules for estate taxes.

https://www.politico.com/news/2024/08/27/trump-harris-tax-cuts-00175441

Is the Old Weird Guy really gonna try to defend tax cuts IN A DEBATE for the over $400K crowd?

 

[Darkwind]

At the heart of the expiring provisions are income taxes that Republicans cut virtually across the board in 2017 for individuals and families. Other provisions facing extinction include a bigger standard deduction, a doubled Child Tax Credit and estate tax cuts for taxpayers who pass on money and property to their heirs.

While Trump wants to leave all of those cuts intact, Harris has embraced raising taxes on those making above $400,000, arguing that wealthy Americans aren’t shouldering their fair share and that the 2017 cuts overwhelmingly benefited them. She also has indicated she backs increasing taxes on capital gains, such as stock earnings, for high-earners and tightening rules for estate taxes.

https://www.politico.com/news/2024/08/27/trump-harris-tax-cuts-00175441

Is the Old Weird Guy really gonna try to defend tax cuts IN A DEBATE for the over $400K crowd?

I thought he ONLY cut taxes for the rich.

You're saying that tax cuts for the lesser people will expire now. What tax cuts did they get if they were only for the wealthy?

Show Me an official document that Harris, her campaign, or even the White House office of the VP, in which she raises taxes, cuts taxes, or does anything with taxes.

 

[toobfreak]

Differences in Harris and Trump's tax cut plans for Trump's 2017 sunsetting tax cut

That's easy.

• Harris only put that plan in her campaign rhetoric to use to get votes stealing it from Trump.
• Trump actually intends to implement it immediately upon returning to office.

 

[jotathought]

Harris is in agreement with Biden and her administration under Biden to support increasing taxes by taxing unrealized capital gains, increasing the tax margin for high-income earners and taxing capital gains at the highest tax margin for those with $1 million in income .. an investor nightmare.

 

[Crepitus]

At the heart of the expiring provisions are income taxes that Republicans cut virtually across the board in 2017 for individuals and families. Other provisions facing extinction include a bigger standard deduction, a doubled Child Tax Credit and estate tax cuts for taxpayers who pass on money and property to their heirs.

While Trump wants to leave all of those cuts intact, Harris has embraced raising taxes on those making above $400,000, arguing that wealthy Americans aren’t shouldering their fair share and that the 2017 cuts overwhelmingly benefited them. She also has indicated she backs increasing taxes on capital gains, such as stock earnings, for high-earners and tightening rules for estate taxes.

https://www.politico.com/news/2024/08/27/trump-harris-tax-cuts-00175441

Is the Old Weird Guy really gonna try to defend tax cuts IN A DEBATE for the over $400K crowd?

Not gonna be an easy lift if so.

 

[bendog]

I just find it amusing that Trump has little choice but to defend what really was McConnell's plan. In a way it's unfair to Trump because he wants to be running as the challenger, and NOT as the incumbent. But he bragged about the biggest tax cut evah (it wasn't that, btw)

 

[Augustine_]

I thought he ONLY cut taxes for the rich.

That's true. Their's were permanent, ours have been going up as he scheduled and will expire soon.

 

[bendog]

That's true. Their's were permanent, ours have been going up as he scheduled and will expire soon.

The gop had to choose between making business tax cuts, or personal tax cuts, permanent. Values.

 

[Augustine_]

The gop had to choose between making business tax cuts, or personal tax cuts, permanent. Values.

The GOP's only economic strategy is to cut taxes for millionaires and billionaires while massively increasing government spending. It has been their goal for as long as most of us have been alive.