THE CHOICE COULD NOT BE ANY CLEARER:
There’s a widening Harris-Trump policy gap on tax. Social media claim Harris backs President Biden’s plan for a 44.6% capital gains tax and a 25% tax on unrealized capital gains for those with more than $100m in assets. That would theoretically narrow the fiscal deficit and act against dangerous inequality; practically it may risk a mass sale of US assets and the move of capital and the rich outside it.
Of course, that this tax hike was already raised by Biden yet didn’t pass speaks to the president proposing and Congress disposing: that means those guessing the presidential electoral outcome also need to guess the Senate and House outcomes. Meanwhile, Trump favors lower taxes.
There’s also a Harris-Trump gap on trade. The former may keep existing Biden tariffs and add to them strategically. The latter wants a 20% universal tariff and up to 100% on China.
“tariff”
I would have the motor vehicle trade be balanced internationally.
$100 billion US->Mexico
$100 billion Mexico->US
The financial balancing would primarily take place within companies.
Ford
$10 billion (large engines, transmissions, EV batteries) US->Mexico
$10 billion (auto parts, wiring harnesses) Mexico->US
“dangerous inequality”
10000 to 1 inequality is not dangerous at all.
Inequality up to 10 to 1 accounts for all the problems of inequality.
In California, well-paid ‘essential’ public employees and tech workers drive up prices of the stuff ordinary people need such as housing.
