This is why Kamala Harris could be great for retail investors
Though much has been said about Vice President Kamala Harris’ – and incumbent Joe Biden’s – plans to significantly increase taxes should she be elected in November, her economic plans also boast some hefty credits and reductions. Indeed, though ambitious, the VP’s economic plan is intended to be progressive, meaning the bulk of the burden would fall on the shoulders of the wealthy. The aim is that those making less than $400,000 annually would not see their costs rise and may even see some cuts. How could Harris reduce the burden on the middle class? One way this will likely be attempted is by extending parts of Trump’s Tax Cuts and Jobs Act (TCJA), as, should it be allowed to expire in full, an estimated 60% of Americans would see their taxes rise. While Harris did not directly engage with the idea by press time, Biden’s economic advisor, Lael Brainard, did come out in support. Picks for ...