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In the end, The Hill lied and Harris was right. (lemmy.world)
submitted 1 year ago by to c/whitepeopletwitter@sh.itjust.works
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[–] -1 points 1 year ago (2 children)

I'm saying:

  • we already tax the rich much more than everyone else
  • the rich have more influence than lay people in Congress
  • Harris seemed to be grasping at straws to find things to say to build hype (also tried "price gouging")

In short, I don't believe her, especially when she said she wouldn't have changed anything about Biden's term. She's very much a "business as usual" candidate, and people wanted change.

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  • [–] 1 point 1 year ago (1 child)

    The Tax Brackets max out at 37% for people who make 731,201 as married filing jointly. That's not the highest in the world, and the effective corporate tax rates are about 20% to 25%.

    If you want the rich to not be able to buy campaigns, the Democrats literally solved that problem from 2003 to 2010 until Conservative SCOTUS picks struck down the law with the Citizens United decision.

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  • [–] 0 points 1 year ago

    That’s not the highest in the world

    I never claimed it was, I merely claimed that it's substantially higher than the average person pays, which is <10% (after standard deduction and whatnot). The rich pay something like 30% after handling tax brackets and whatnot, so >3x more as a percentage of income.

    If you try to increase that substantially, they'll push hard to stop it in Congress. Do you really want to spend what little political capital you have trying to eek out a bit more from them? Or would you rather spend that on something else?

    Citizens United

    PACs were absolutely a thing before the Citizens United case, Citizens United just made them more powerful. So even if the decision weren't made, there would still be special interests.

    I disagree with the Citizens United decision, but I really don't think it's relevant here. Even if corporations were completely banned from making contributions, they'd still have a ton of power. It turns out politicians generally want to please people who can bring jobs to their area, have a captive audience (shareholders and employees), and bring in tax revenue.

    Harris claimed to want to tax unrealized gains, which currently isn't legal and would be a huge uphill battle to get passed. If she was truly passionate about it, she'd have an actionable plan, but instead, she just seems to say it to get people to listen. The idea has no path to passing and she knows it.

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