An economist at the forefront of the growing global push for a billionaire wealth tax is welcoming news that U.S. Democratic presidential nominee Kamala Harris is embracing calls for a minimum levy on the United States' richest individuals.
Believe it or not, Taxation is a field of study on its own, with countless people spending their whole life studying it. I wonder how this is going to actually work out legally.
Gotta say, as someone who identifies as a progressive, she's really been beating my expectations compared to what she was saying and doing back in the 2020 primaries.
The fact that she didn't have to face a primary this year is a political gift. She didn't have to go.on record while jockeying to differentiate herself and the instant unanimous support from the entire Democratic party means she can just be herself
Trump just called Netanyahu and told him to turn down the cease fire. All your complaints about Harris should be gone and Trump should be in prison for being a traitor promoting more death for political gain.
I'm hoping she's mostly just playing soft on Israel for now is to avoid more criticism of being antisemitic. When Israel started their attempted genocide, most of the Biden administration was silent on it, and we didn't hear or see anything from Harris, when she did eventually have a public appearance about a month later, she was pretty much the first person in the administration to say anything remotely pro-peace.
I'm probably just huffing copium but I hope she's just taking AIPAC's money (not sure if they are giving her any, but better in her hands than theirs) and getting through the election, and then going to go full prosecutor on Israel/Netanyahu.
She started out the 2020 primaries pretty progressive, but would usually roll-back her positions a day later, presumably after some adviser told her it wouldn't play in Peoria or would anger a megadonor. Maybe that's where her heart actually lies and her trainwreck of a campaign made her realize those advisors were bad people to listen to.
Correct if I'm wrong here, but is this article just "Economist comments on something it has been claimed the Harris campaign team said, but is not explicitly mentioned anywhere in writing or in speeches"?
If she planned on taxing billionaires, she'd be shouting it from the rooftops. That's a popular policy. It's not going to be something she keeps in her back pocket and then when she's president goes SURPRISE MOTHERFUCKERS. Not that she could do it by EO anyway, but honestly, this is so far from a reality it just barely qualifies as news.
The article cited the 2025 budget [PDF]. It's under the section "Proposes a Minimum Tax on Billionaires".
To finally address this glaring inequity, the Budget includes a 25 percent minimum tax on the wealthiest 0.01 percent, those with wealth of more than $100 million.
Though the Harris campaign is not directly mentioned, I think we may assume it's coming from both Harris and Biden.
If she planned on taxing billionaires, she’d be shouting it from the rooftops. That’s a popular policy.
Not among corporate mega-donors, it isn't! Keeping it in her back pocket -- not until she's president, but until shortly before the election and, crucially, after their checks clear -- is exactly what she should do.
Nobody would be happier than me to see that happen, but seeing how nobody's ever done something like that before I have my doubts. Can't remember the last Democrat that actually got more radical than the platform they ran on. Certainly wasn't anybody in the last 50 years.
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.”
"Top Economist" is a funny phrase. Kinda like saying "leading soothsayer".
Don't think I don't have sympathy or respect for the economist. I just notice that it's the only academic discipline that pledges and is expected to predict the future.
Just like experts in criminal trials, economists can be selected to prove what you already know. And just like horoscopes, it's all very convincing until you measure the predictions against reality.
I have a PhD in economics. Saying that the field "pledges" to be able to predict the future is pretty disingenuous. You'd be hard pressed to find any serious researcher in the field with that level of delusion.