Kamala Harris' Opportunity Economy

Kamala Harris’ Opportunity Economy
   
A synopsis of an article by Egbert Willies published in Medium, Aug. 18, 2024


A direct challenge to the status quo, which has favored corporate profits over the welfare of everyday Americans.


Harris would try to reduce the high cost of living in the US.  One way is by targeting corporate price gouging.  She would also eliminate taxes on tips and raise the child tax credit by $6000.
Corporations have been raising prices beyond inflationary pressures, to insure high profits.  Asking the federal government to use its power to regulate corporations is reasonable—industry has not been inclined to self-regulate.


Corporate self-regulation has generally occurred only when the consumer base is at a breaking point. Things are bad—why wait for ordinary Americans to struggle even more?  If our response to cheating by overseas trading partners is to impose a tariff on their products, why not use the same approach with corporate greed on our shores:  tax them.


Harris has a strong focus on middle-class housing, a current crisis.  Harris has stated a goal of building 3 billion new homes in the next four years and to provide $25,000. in down payment assistance for first-time home buyers.  Creating more housing supply is aimed at corporations which have purchased homes as rental investments, keeping them off the market.


Harris’s plans have been derided as economic populism, an election gimmick.  However, the proposed policies address real needs of most Americans.  The status quo needs to be challenged.  Media outlets that tend to defend the status quo should not be trusted in their assessment of Harris’ plans.


And from MSN,  https://www.msn.com/en-us/news/politics/kamala-harris-reveals-plan-for-opportunity-economy/ar-AA1p0PNF


Kamala Harris Reveals Plan for ‘Opportunity Economy'
Story by Kate Nishimura


"I believe competition is the life blood of our economy, more competition means lower prices for you and your families," she said.
Without deviating into a discussion on trade, Harris called out her opponent's controversial "All Tariff Policy," instead focusing on the impact that a universal tariff system could have on prices at retail.
"He wants to impose what is, in effect, a national sales tax on everyday products and basic necessities that we import from other countries that will devastate Americans," she said, noting that it could raise prices on almost everything voters buy in stores.
"A Trump tax on gas, a Trump tax on food, a Trump tax on clothing, a Trump tax on over-the-counter medication," she said. "And, you know, economists have done the math. Donald Trump's plan would cost a typical family $3,900 a year. At this moment when everyday prices are too high, he will make them even higher." ​