Fond of boasting “Bidenomics is working,” Vice President Kamala Harris’ Marxist economic plans were set to feature another bribe while hoping to shore up Northeast support.
Breaking from a battleground state swing, the Democratic Party nominee set her sights on patching relationships with the first-in-the-nation state after being doubly slighted by the primary process. As part of that effort, Harris’ trip to Portsmouth, New Hampshire Wednesday was also expected to include her broader pitch to business-minded voters with a new tax deduction scheme.
The Associated Press detailed that during the “rare deviation” from the battlegrounds, the vice president would announce her goal of attaining 25 million new business applications during a first term if elected by ballooning the current tax incentive from $5,000 to $50,000 for startups.
Amid the fuzzy figures from the Biden-Harris administration that reported a record 19 million new business applications, the proposal was expected to make it easier for businesses to get occupational licenses while incentivizing state and local governments to ease regulations.
“A Harris campaign official, who spoke on the condition of anonymity to discuss a policy plat that hadn’t been released publicly, said Tuesday the change would cover the $40,000 it costs on average to start a business,” the AP reported. “The proposal would let new businesses wait to claim that deduction until they first turn a profit, to better maximize its impact lowering their taxes.”
The latest plan under the banner of Harris’ supposed “Opportunity Economy” had the AP acknowledging that applications don’t necessarily mean a new business is formed as the vice president appeared to be leaning into a classist narrative to stir the lower income and low information voters to support her.
As had previously been reported, after the Biden-Harris administration’s economic policies had left the possibility of buying a home unattainable even for many with established equity, she announced a scheme to award up to $25,000 toward down-payment assistance for qualified first-time home buyers.
Additionally, she continued to demonize companies equally impacted by inflation with a plan to ban “price gouging” that flirted with taking control of grocery stores.
We are not going to let Donald Trump sell out middle class families again.
Watch our latest ad: pic.twitter.com/4vsk4SzUdO
— Kamala Harris (@KamalaHarris) September 3, 2024
Harris supported raising the corporate tax rate from 215 to 28% and tax on stock buybacks from 1% to 4%, and additionally, has signaled support for a 25% tax on “unrealized capital gain.” Such a scheme could see Americans forced to liquidate assets as investments and even homes could become easy targets for the IRS to bilk citizens.
“You need to understand,” former House Speaker New Gingrich (R-GA) explained to Fox News, “a 25 percent increase in unrealized capital gains means, theoretically at least, if your house goes up in price, in value, the government can step in and say: give me the money. And if you don’t have the money, the government can step in and say: give me the house.”
“This would be the most crazy tax structure we have ever seen. It makes Venezuela look normal. It makes Russia look normal,” added Gingrich.
Meanwhile, former President Donald Trump, who is slated to join Fox News host Sean Hannity for a Town Hall from Harrisburg, Pennsylvania Wednesday evening, reminded how Harris was responsible for the current state of the economy while calling out how Democrats had ignored New Hampshire law to help propel President Joe Biden in the primary.
“Comrade Kamala Harris sees there are problems for her campaign in New Hampshire because of the fact that they disrespected it in their primary and never showed up. Additionally, the cost of living in New Hampshire is through the roof, their energy bills are some of the highest in the country, and their housing market is the most unaffordable in history. I protected New Hampshire’s First-In-The-Nation Primary and ALWAYS will! To my friends in New Hampshire, get out and vote TRUMP. Together, we will make your State and America Strong, Safe, and Prosperous AGAIN!”
Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn't researching current events and their impacts, you'll find him spending time with friends and family or working on his next novel.
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