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ehrnst

(32,640 posts)
Sun Apr 21, 2019, 07:57 AM Apr 2019

Almost all of Sen. Harris's $2.8 trillion tax plan would help middle and working class, study finds

Under Harris’s plan, the federal government would pay tax credits that match a person’s earnings up to $3,000 (or $6,000 for married couples) but phase out those credits for higher earners.

The Tax Policy Center, a nonpartisan think tank, said Wednesday that Harris’s LIFT Act would add $2.8 trillion to the federal deficit in its first 10 years and an additional $3.4 trillion in the following decade. Harris has proposed paying for the tax cut by eliminating the parts of the Republican tax law passed last fall that benefit the rich, as well as levying a new tax on large financial institutions.

Because the amount an individual or couple can receive from the tax credit would diminish as their incomes rise, “nearly all” of the plan’s benefits would go to those who earn less than $87,000, the Tax Policy Center said. Its benefits are expected to be much smaller for the poorest Americans.

“As the analysis shows, Senator Harris’s middle-class tax bill would put more money back into the pockets of millions of American families,” said Lily Adams, a spokeswoman for Harris. “One of the biggest issues our nation faces is that wages are not keeping up with the rising cost of living. Big problems require big solutions.”


https://www.washingtonpost.com/business/2018/11/15/almost-all-sen-harriss-trillion-tax-plan-would-help-middle-working-class-study-finds/
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
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Almost all of Sen. Harris's $2.8 trillion tax plan would help middle and working class, study finds (Original Post) ehrnst Apr 2019 OP
If corporations simply paid their workers better something like this would not be needed. cstanleytech Apr 2019 #1
Giving everything to employees of big corporations HopeAgain Apr 2019 #2
This certainly doesn't prevent corporations from paying their workers more. ehrnst Apr 2019 #3
many people are not employed by large corporations JI7 Apr 2019 #4
True artislife Apr 2019 #10
Beats getting robbed by Trump's recent so called "Tax Giveaway". djacq Apr 2019 #5
Policy - with details! - that will help the working class! KitSileya Apr 2019 #6
Yup ismnotwasm Apr 2019 #7
+++ brer cat Apr 2019 #9
I like this. David__77 Apr 2019 #8
 

cstanleytech

(26,291 posts)
1. If corporations simply paid their workers better something like this would not be needed.
Sun Apr 21, 2019, 08:01 AM
Apr 2019
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

HopeAgain

(4,407 posts)
2. Giving everything to employees of big corporations
Sun Apr 21, 2019, 08:24 AM
Apr 2019

leaves out a huge segment of the population- part time employees, freelancers, independent contractors, etc. On economics I trust Warren the most. She favors a living wage as well.

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

ehrnst

(32,640 posts)
3. This certainly doesn't prevent corporations from paying their workers more.
Sun Apr 21, 2019, 08:24 AM
Apr 2019

Also, half of all jobs are with small businesses, and not corporations, so making corporations raise wages won't solve that problem for half of workers - or small business owners, or the self employed, or the gig worker....

The gig economy is a much more widespread and insidious wage theft than the rate of minimum wage for McDonalds workers.

Beware being convinced of the "simple solution" for a large and complicated problem.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

JI7

(89,250 posts)
4. many people are not employed by large corporations
Sun Apr 21, 2019, 08:39 AM
Apr 2019
If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

artislife

(9,497 posts)
10. True
Sun Apr 21, 2019, 04:10 PM
Apr 2019

Corporations get such a break and can entice workers because of great benefit packages, free transit passes and other perks that the small business just cannot compete against.

I don't understand how people cannot see how everything is rigged for big business and we end bowing to what they deem to give. This is why our environment is such a mess, pensions have been looted and politicians answering to them.

I owned my own business since 2004. I finally got a job 2 years ago because of health benefits that didn't ask for a huge monthly payday and a deductible that would have me hoping for a grave disease or injury so I could get some of my money back.

Before this new healthcare provider, I had an allergic reaction to shellfish and went to the hospital because I can die from it. I got to see a doctor, but the referral to see a specialist for allergies would not take my self employed healthcare provider. No one would after a morning of trying other specialists. What good is healthcare if you won't be seen or you go broke for just having to have it?

I don't love my job, I would quit but the benefits keep me looking for something comparable in my job hunt. Not going so well.

If I were to vote in a presidential
primary today, I would vote for:
Undecided
 

djacq

(1,634 posts)
5. Beats getting robbed by Trump's recent so called "Tax Giveaway".
Sun Apr 21, 2019, 10:21 AM
Apr 2019
If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

KitSileya

(4,035 posts)
6. Policy - with details! - that will help the working class!
Sun Apr 21, 2019, 10:31 AM
Apr 2019

This is very typical of our female candidates - they are a whole lot more pragmatic, and they are willing to actually fight for the real working class. (The majority of which is not white or male - it's mostly women, and people of color.)

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

ismnotwasm

(41,984 posts)
7. Yup
Sun Apr 21, 2019, 10:49 AM
Apr 2019

And maybe I’m just another pragmatic female but damn, I want to know the whys, what, hows and when of legislation

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden
 

David__77

(23,411 posts)
8. I like this.
Sun Apr 21, 2019, 10:53 AM
Apr 2019

It’s a ways toward universal basic income.

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primary today, I would vote for:
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