Kamala Harris vowed on Friday to “fight” for the middle class if she secures the presidential election, contrasting her economic strategies with those of her opponent Donald Trump, whom the vice president accuses of prioritizing the wealthy.
“Donald Trump is advocating for billionaires and large corporations. I will work to return money to middle- and working-class families,” asserted the 59-year-old Democratic candidate during a visit to North Carolina (southeast).
Her team had previously revealed a program focused on purchasing power, which her Republican rival labeled as “communist.”
Kamala Harris has proposed several specific measures: constructing three million new homes to tackle the “shortage,” providing assistance for first-time home buyers, and introducing a new birth tax credit of up to $6,000 during the first year of a child’s life.
She also plans to address real estate speculation and curb price inflation in the food sector, while capping the price of insulin and addressing the medical debts burdening Americans. The Democrat has been cautious to avoid repeating the errors of Joe Biden, whose legacy she is continuing.
“Devastating”
The Democratic president has spent his time in office touting his significant investment plans and the positive economic conditions in the United States, but he has struggled to deliver a convincing message amid the inflation impacting the world’s largest economy.
In contrast, Kamala Harris focused on the sentiments of families facing rising living costs: “too many people feel that no matter how hard they work, they can’t make ends meet.”
The vice president, mindful of her image, recounted her mother’s struggle to buy a home and shared her experience working at McDonald’s as a student to earn extra money.
All this is aimed at setting herself apart from the 78-year-old billionaire she will compete against in the election on November 5, and whose economic initiatives she has criticized.
Pointing out that Donald Trump sought to significantly raise tariffs, Kamala Harris stated that this would amount to “imposing a national consumption tax,” which would be “devastating.”
“That means higher prices for all your everyday essentials. A ‘Trump tax’ on gasoline, a ‘Trump tax’ on food, a ‘Trump tax’ on clothing…” she enumerated, asserting that her opponent’s plan would cost an average family $3,900 annually.
Plagiarism
“If Kamala is elected and enacts her communist price controls, famine, starvation, and poverty will ensue,” former President Donald Trump retaliated on Friday.
According to a University of Michigan poll released on Friday, 41% of consumers believe the vice president is a more suitable candidate for economic issues, while 38% favor Donald Trump in this regard. This marks a challenging moment for the Republican, a former businessman, who had consistently outperformed Joe Biden in similar polls.
The Democrat has drawn Donald Trump’s ire by recently suggesting the elimination of taxes on tips in the hotel, restaurant, and other service sectors. The Republican accused her of “plagiarizing” one of his ideas.
His running mate JD Vance echoed this criticism, accusing Kamala Harris of copying his tax credit proposal for families. He cited a tax increase of $5,000 per year per child for American families.
The Committee for a Responsible Federal Budget, a nonpartisan fiscal policy think tank, has estimated that Harris’s comprehensive proposals would cost between $1.7 trillion and $2 trillion.
Marc Goldwein, his vice-president, informed AFP that the proposed $5,000 per year child tax credit from the Republican duo alone would exceed $2 trillion.
Kamala Harris vs. Donald Trump: A Contrast in Economic Policies
Kamala Harris promised Friday to “fight” for the middle class if she wins the presidential election, contrasting her economic plans with those of her rival Donald Trump, whom the vice president accuses of serving the wealthy.
Economic Plans: A Commitment to Working Families
During a recent trip to North Carolina, Kamala Harris outlined her economic vision, emphasizing her commitment to middle- and working-class families. She asserted, “Donald Trump is fighting for billionaires and big business. I will fight to give money back to middle- and working-class families.”
Concrete Measures to Support Families
Harris’s economic strategy includes a number of significant proposals designed to bolster economic growth and provide relief to families:
- Construction of three million new homes to address the ongoing housing shortage.
- Assistance for first-time homebuyers to make homeownership achievable.
- A new birth tax credit of up to $6,000 during the first year of a child’s life to support families financially.
- Measures to combat real estate speculation and discourage inflation in essential goods, particularly food.
- Price caps on insulin and plans to tackle medical debt burdens faced by Americans.
Addressing Concerns of Inflation
Harris expressed concern over inflation, stressing the impact on households across America. She noted, “too many people have the impression that no matter how hard they work, they can’t get by.” This sentiment resonates with many voters struggling with rising costs of living.
To underscore her genuine connection to working families, Harris shared personal anecdotes, including her mother’s struggles to purchase a home and her own experiences working at McDonald’s while studying.
Trump’s Economic Vision: A “Trump Tax”
In stark contrast, Donald Trump has been criticized for his approaches that Harris claims primarily benefit the wealthy. Recounting Trump’s intention to increase tariffs, she labeled it as equivalent to “imposing a national tax on consumption,” warning it would have a “devastating” effect on the economy.
The Impact of Trump’s Policies on Families
Harris cautioned that Trump’s plans would inadvertently impose a “Trump tax” on everyday expenses, resulting in increased costs for gasoline, food, and clothing. She estimated that the average American family could face an additional financial burden of $3,900 per year due to these policies.
Polling Data: Public Perception on Economic Candidates
According to a recent University of Michigan poll, there is a noteworthy shift in public perception regarding economic candidates. Around 41% of consumers believe Kamala Harris is the stronger candidate for economic issues, compared to 38% who favor Donald Trump. This marks a significant development for the Republican nominee, who has historically dominated economic opinion polls.
The Accusation of Plagiarism
The rivalry intensified when Trump accused Harris of “plagiarizing” his ideas, particularly in reference to her proposal to eliminate taxes on tips in the service industry. Trump’s running mate, JD Vance, echoed this sentiment, claiming Harris copied their proposal for a significantly increased family tax credit.
Financial Implications of Harris’s Economic Policies
The Committee for a Responsible Federal Budget, a nonpartisan fiscal policy think tank, provides a critical analysis of Harris’s proposals. Their estimates suggest that her overall economic initiatives could cost between $1.7 trillion and $2 trillion. This financial overview raises essential considerations about budgetary impacts and long-term fiscal sustainability.
Comparative Overview of Economic Proposals
| Policy Aspect | Kamala Harris | Donald Trump |
|---|---|---|
| Support for Working Families | New birth tax credit, homeownership assistance | Increased tariffs (estimated “Trump tax”) |
| Housing Initiatives | Three million new homes | None mentioned |
| Healthcare Costs | Price caps on insulin, reducing medical debt | No specific healthcare initiatives |
| Funding Source | Estimated $1.7 – $2 trillion cost | Critics argue potential for increased family costs |
Benefits of Harris’s Economic Approach
Kamala Harris’s economic plan promises several benefits:
- Affordability: Initiatives to build affordable housing and provide direct financial supports to families.
- Healthcare Access: Addressing burdensome medical costs, particularly for families managing chronic health conditions.
- Stability for Families: Tax credits and various financial supports aimed at creating economic stability for middle- and working-class households.
Conclusion
The contrasting economic strategies of Kamala Harris and Donald Trump present a clear choice to voters. As the election date approaches, the implications of their proposals will significantly influence public perception and voter behavior.