2024-10-02 09:43:05
A month before the election, the former President of the United States and the Democratic Vice President were at odds on almost every issue but agreed to promise major tax cuts, in the face of the abysmal public debt.
« My plan is to make my first ever permanent tax cuts, big cuts, the biggest in history. », remember Donald Trump in each of his meetings. Kamala Harris you promise” -tax cuts for 100 million Americans “. Some of us for everyone : The current Vice President wants to restore the tax rates given in the lowest incomes, to parents with dependent children, for business developers, to finance the purchase the first real estate … Donald Trump wants to reduce taxes on companies, remove the pensions of pensioners. from income tax, eliminating all taxation on tips. A measure which will still concern 4 million Americansoverrepresented in some key states likely to vote in November. The idea seems all the more interesting since Kamala Harris immediately brought it up.
The promises only become those who believe them, although the President of the United States is strong, he will have to convince the Congress, which will not be easy. Both candidates are careful not to give a detailed assessment of their proposals – which Donald Trump sometimes seems to reinforce during his meetings. However, different ones circles of economists be there attempt. The tax credits promised by Donald Trump will, for example, represent 10,000 billion dollars of reduced income for the federal budget and in 10 years his proposals will increase the deficit by 6,000 billion dollars dollar, Kamala Harris does little better, her proposals will not. expand deficit” what » of 2000 billion dollars…
Federal debt exceeds $3.5 trillion
Inadequacy is the biggest thing missing from the campaign. Donald Trump assures that his first term is “ shows that targeted tax credits do not increase the deficit, on the contrary they reduce the deficit by promoting growth “. Except that when Donald Trump came to the White House in 2017 he inherited a federal deficit of less than 600 billion dollars, upon his departure – of course after two years of the pandemic – deficit has exploded like never before to more than 2700 billion US dollars. Economists are still not convinced by the claims of the Republican candidate who assures that the import taxes that he intends to increase will fill the coffers of the federal state.
For her part, Kamala Harris is satisfied to be sure that she will fulfill her promises ” while reducing the deficit “. It is true that your system also provides to increase taxes on billionairesbut again without giving any details. But apart from these announcements which are enough to brush the subject aside, the deficit seems to be a non-issue. Incorrect: the federal debt exceeded $3.5 trillion over the summer, for the first time in history. Thanks to strong growth, the United States can still benefit, but economists warn: if you go deep, you end up hitting rock bottom.
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