Donald Trump & Kamala Harris: Economic Proposals Compared

Summary

This video offers a non-partisan comparison of Donald Trump and Kamala Harris's economic policies, focusing on income taxes, inflation, affordable housing, Social Security, prescription drug pricing, international trade, and illegal immigration. Both candidates agree on no federal income taxes on tips, while Harris proposes banning price gouging and Trump aims to reduce inflation through deregulation and increased oil production. Harris plans to support first-time homebuyers and builders, while Trump seeks to cut housing regulations and mortgage rates. On taxes, Trump intends to renew and expand the 2017 tax cuts, making Social Security income tax-free, whereas Harris promises no tax hikes for those earning under $400,000 and expands tax credits. Trump suggests tariffs on imports, while Harris aims to lower drug prices and medical debt.

Takeaways

• 💼 Both Donald Trump and Kamala Harris agree on no federal income taxes on tips for tipped workers.
• 📉 Both candidates aim to address inflation, with Harris proposing a federal ban on price gouging and Trump focusing on deregulation and boosting oil and gas production.
• 🏠 Kamala Harris's affordable housing plan includes $25,000 grants for first-time home buyers, tax credits, and incentives for builders, while Trump emphasizes deregulation and utilizing federal lands.
• 💼 Trump's tax policy involves renewing the 2017 tax cuts, further reducing taxes, and making Social Security income tax-free for more earners.
• 💸 Kamala Harris pledges not to raise taxes on those making under $400,000 and to expand child and Earned Income Tax Credits.
• 🌐 Trump proposes a tariff of 10-20% on all imports and up to 60% on Chinese imports to protect domestic industries.
• 💊 Harris aims to lower drug prices by canceling medical debt, negotiating with pharmaceutical companies, and capping out-of-pocket costs for insulin and prescription drugs.
• 🚫 Trump supports stricter immigration policies, including mass deportations and border wall expansion, to strengthen the economy.
• 🛂 Kamala Harris has shifted her stance on immigration, now supporting border wall expansion but maintaining a softer approach than Trump, focusing on legal immigration reform.

Q & A

What is the common economic policy proposal between Donald Trump and Kamala Harris regarding taxes on tips?

Both Donald Trump and Kamala Harris agree on not imposing federal income taxes on tips. This means that tipped income would be tax-free, a policy they both support but would require Congressional approval to implement.

How does Kamala Harris plan to address the issue of inflation?

Kamala Harris intends to fight inflation by placing a federal ban on price gouging. She plans to give the Federal Trade Commission and prosecutors the authority to pursue companies suspected of price gouging or price fixing within her first 100 days in office.

What are the two-pronged strategies proposed by Donald Trump to combat inflation?

Donald Trump's strategy to fight inflation includes eliminating costly and overburdensome regulations and boosting oil and gas production. He believes these measures will rapidly decrease consumer prices.

What are the key points of Kamala Harris's affordable housing plan?

Kamala Harris's affordable housing plan includes: 1) Providing $25,000 to first-time home buyers for down payments, 2) Offering a $10,000 tax credit to first-time home buyers, 3) Increasing home building through tax incentives for builders of starter homes, 4) Expanding tax incentives for affordable rental housing units, and 5) Repurposing federal land for affordable housing construction.

What are the main proposals by Donald Trump regarding housing affordability?

Donald Trump's proposals for housing affordability are to cut unnecessary regulations that raise housing prices, reduce mortgage interest rates by slashing inflation, and open tracks of federal lands for housing construction.

How does Donald Trump plan to handle the expiration of the 2017 tax cuts and jobs act?

Donald Trump intends not to let the tax cuts from the 2017 tax cuts and jobs act expire. He plans to renew them and further cut taxes for people of all incomes as well as businesses, making these tax cuts permanent.

What is Kamala Harris's stance on taxes for individuals making under $400,000 a year?

Kamala Harris has stated that she will not raise taxes on anyone making under $400,000 a year. Instead, she proposes expanding child tax credits and the Earned Income Tax Credit to provide tax relief for lower-income families.

What is Donald Trump's proposed tariff policy on international trade?

Donald Trump proposes adding a tariff of at least 10%, potentially up to 20%, on all imports from all countries. He also suggests an additional tariff on Chinese imports that could be as high as 60% to protect domestic industries and promote job growth in the USA.

How does Kamala Harris aim to lower prescription drug prices and improve healthcare?

Kamala Harris aims to lower drug prices and improve healthcare by canceling medical debt for millions, removing medical debt from credit reports, accelerating negotiations with pharmaceutical companies to lower Medicare costs, and expanding the $35 monthly cap on out-of-pocket costs for insulin and the $2,000 annual limit on prescription drugs for all Americans.

What are the economic implications of Donald Trump's stance on illegal immigration?

Donald Trump believes that stricter immigration policies will create a stronger US economy. He argues that illegal immigration reduces wages for everyone and takes jobs from native-born Americans, proposing measures such as mass deportations, detention camps, and the expansion of the border wall.

How has Kamala Harris's stance on illegal immigration evolved, and what is her current position?

Kamala Harris has shown a softer stance on illegal immigration compared to Donald Trump. She opposes family separation and mass deportations. Initially against the border wall, she has since pledged to spend hundreds of millions of dollars on expanding it, indicating a shift in her position.