Here’s what Kamala Harris’ tax Armageddon will cost you and the US economy
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Gov. Tim Walz says a Harris administration would have no place in Americans’ bedrooms. But judging by what we know from the Harris tax plan, it would have a bigger place than ever in our wallets and bank accounts.
Harris is proposing a $5 trillion tax increase, the biggest in American history. If passed, it would fundamentally reshape the American economy and the scale in which the government extracts funds from citizens. Her plans include:
Raising the corporate tax rate from 21% to 28%: This 33% tax hike would make American businesses less competitive globally. Combined with state levies, it would make American corporations among the highest taxed in the developed world. The country would return to the bad old days of corporate inversions, where businesses flee offshore to reduce their tax costs.
Vice President Kamala Harris speaks on her economic policy at the Hendrick Center For Automotive Excellence on Aug. 16,
