Harris launches presidential bid with a multi-trillion dollar wish list
While Harris is largely unknown to most voters, that won't be the case for very long...particularly once folks get a look at her amazingly expensive policy wish list:
Sen. Kamala D. Harris (D-Calif.) will run for president proposing a nearly $3 trillion tax plan, billions in tax credits to low-income renters, a Medicare-for-all health-care system, and a reduction in cash bail for inmates charged with criminal offenses, her aides said.
Digging a little deeper we discover the real big ticket items are:
$2.8 trillion middle-class tax plan. Last fall, Harris released a proposal aimed at enacting a tax plan for middle- and working-class families, and it will be a centerpiece of her presidential campaign, her aides said.
Under Harris’s plan, the federal government would pay tax credits that match a person’s earnings up to $3,000 (or $6,000 for married couples). Those credits would phase out for higher earners, and would not benefit Americans with no earnings, in an attempt to reward people who work.
Medicare-for-all: In August 2018, Harris announced that she would become the first Senate Democrat to co-sponsor Sanders’s Medicare-for-all bill to nationalize health insurance.
Medicare-for-all is a proposal to move every American to a single government-run insurer that charges no deductibles or premiums. Doing so would significantly increase government expenditures — by as much as $33 trillion over a ten-year period, according to one conservative think tank’s estimate — while offering health insurance to the Americans who lack it and preventing millions more from being forced into medical bankruptcy. It would require enormous tax increases to finance, although supporters maintain that they would be offset by zeroing out every family’s spending on premiums and deductibles.
There will be much more to come as the campaign season gets underway in earnest.
The early take, however, is the Democratic field is looking to get into a bit of a bidding war over who has the most generous social welfare schemes. That's probably a necessary tactic for the primaries, where it doesn't matter how big the price tags are, because "the rich" will pay for it all. But in a general election?
We tend to think the faster the Democratic presidential field runs to the left, the greater the chances President Trump has of winning re-election.