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'Let's Go!' Top Economist Applauds as Harris Signals Support for Billionaires Tax
(www.commondreams.org)
this post was submitted on 21 Aug 2024
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Correct if I'm wrong here, but is this article just "Economist comments on something it has been claimed the Harris campaign team said, but is not explicitly mentioned anywhere in writing or in speeches"?
If she planned on taxing billionaires, she'd be shouting it from the rooftops. That's a popular policy. It's not going to be something she keeps in her back pocket and then when she's president goes SURPRISE MOTHERFUCKERS. Not that she could do it by EO anyway, but honestly, this is so far from a reality it just barely qualifies as news.
Not among corporate mega-donors, it isn't! Keeping it in her back pocket -- not until she's president, but until shortly before the election and, crucially, after their checks clear -- is exactly what she should do.
Nobody would be happier than me to see that happen, but seeing how nobody's ever done something like that before I have my doubts. Can't remember the last Democrat that actually got more radical than the platform they ran on. Certainly wasn't anybody in the last 50 years.
Massachusetts did it. And it is a huge success.
https://www.cbsnews.com/news/massachusetts-millionaires-tax-free-lunch-every-kid/
The article cited the 2025 budget [PDF]. It's under the section "Proposes a Minimum Tax on Billionaires".
Though the Harris campaign is not directly mentioned, I think we may assume it's coming from both Harris and Biden.
This is actually really helpful clarification, I did just miss some of that. It's no wealth tax, but it's better than nothing.
The commondreams article says "endorsement of taxes on ultra-wealthy individuals and large corporations" - your linked article says she's raising the corporate tax rate not even up to what it was before Trump. So, sure, I guess that technically counts as the "large corporations" part, but it doesn't meet the "ultra-wealthy individuals" language or the "billionaires tax" claim in the headlines.
I love that she says she wants to raise it somewhat. I love that she wants to give tax breaks to working class people. I don't love that this makes it out to be something it's not.