“Vice President Kamala Harris’s tax proposals pick up the unfinished business of the Biden administration, pushing to raise taxes on corporations and high-income households while leaving most Americans’ taxes unchanged or lower,” the Wall Street Journal reports.
“Harris, the Democratic nominee for president, would increase taxes by about $5 trillion over the next decade and cut other taxes by more than $4 trillion. The federal government’s total collections—projected at $63 trillion over 10 years—would be little changed, but the Harris agenda would shift who pays.”
“Under her plan, taxes would go up sharply on some high-income households, and top marginal tax rates would reach their highest point since 1986. The wealthiest investors and company founders would encounter sizable capital-gains tax bills that they don’t face under current law.”
