Kamala Harris’ Economic Ideas Wrong for America

Harris will end the 2018 tax cuts, raise taxes on the highest-income earners, which will reduce capital formation, and overregulate.

The election for president of the United States will be held tomorrow. While Republican candidate, former President Donald Trump’s economic policy proposals are generally known, Democrat candidate Vice President Kamala Harris’ proposals are somewhat vague. When Harris does give specifics, most economists scratch their heads.

Harris will allow the 2018 tax cuts to expire, which raises every household’s tax bill by more than 10%. She does, however say, without specifics, that she will cut taxes for 100 million middle class households.

Trump will extend those tax cuts indefinitely. While the Harris camp paints that as a tax cut for the wealthy, the truth is far different.

The 2018 tax cuts were, in my opinion, very fair. Every taxpayer was treated the same. Each received a 10% tax cut. Obviously, a wealthy household that pays $1 million in taxes received a $100,000 tax cut. A middle-class household who pays $5,000 in taxes received a $500 tax cut. But every taxpaying household was treated exactly the same.

Harris says she will reduce inflation by not allowing companies to raise prices. She believes that corporations, especially…