this post was submitted on 21 Aug 2024
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'Let's Go!' Top Economist Applauds as Harris Signals Support for Billionaires Tax (www.commondreams.org)
submitted 4 months ago by jeffw@lemmy.world to c/news@lemmy.world
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[–] TransplantedSconie@lemm.ee 3 points 4 months ago* (last edited 4 months ago) (1 children)

Vice President Kamala Harris will push to increase the corporate tax rate to 28% from the current 21%, her campaign said Monday, the first day of the Democratic National Convention in Chicago.

Coming days after she unveiled a four-part economic package that would provide tax relief to working and middle-class Americans, the corporate tax proposal marks Harris’ first effort to detail how she would pay for her policy platform should she win the presidential election.

"As President, Kamala Harris will focus on creating an opportunity economy for the middle class that advances their economic security, stability, and dignity,” campaign spokesperson James Singer said in a statement. “Her plan is a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”

[–] would_be_appreciated@lemmy.ml 2 points 4 months ago (1 children)

The commondreams article says "endorsement of taxes on ultra-wealthy individuals and large corporations" - your linked article says she's raising the corporate tax rate not even up to what it was before Trump. So, sure, I guess that technically counts as the "large corporations" part, but it doesn't meet the "ultra-wealthy individuals" language or the "billionaires tax" claim in the headlines.

I love that she says she wants to raise it somewhat. I love that she wants to give tax breaks to working class people. I don't love that this makes it out to be something it's not.