Barron's/Wharton: Harris Tax Plan Better than Trumps' for Most People (esp Poor/Middle Class) While Raising Deficit Less

iluvatar5150 said:

https://www.barrons.com/articles/trump-harris-tax-rates-plans-cuts-income-e8db90ee

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Despite these constraints, the Penn Wharton numbers offer a telling view of what the candidates would prioritize. Harris would cut taxes for lower earners, but raise them for the wealthy. Trump would cut taxes across the board—but offer bigger breaks for higher earners.​

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It’s important to note how the candidates’ plans would affect the swelling national debt; in the long term, Trump’s plans would add $4.1 trillion to the national debt, about twice as much as Harris’, according to Penn Wharton.​

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iluvatar5150 said:

But hey, Trump's got the economic vibes and that's what matters, right?

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probinson said:

Interesting. Of course, no matter who wins, they'll have to have their plans approved by congress.

I also often wonder the specifics of projections like this. For example, I suspect much of the tax savings for lower income people on the Harris side would come from an increased child tax credit, something that only benefits you if you have children.

Looking at the graphic, if it's accurate, at my earning level I'll probably see the same increase no matter who is elected. Although I will be genuinely shocked if I see ANY increase regardless of the outcome.

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