Harris's Tax Plan and Impacts

The video discusses American opinions on taxes, the impact of the Tax Cuts and Jobs Act (TCJA), and the tax plans of Trump and Harris for the 2024 elections. It highlights the potential expiration of the TCJA and its effects on taxpayers, the federal deficit, and economic growth. The video also covers Harris's economic proposals, including tax credits and corporate tax increases, and compares them to Trump's plans, which focus on lowering corporate taxes and increasing tariffs.

What percentage of Americans believe they pay too much in federal income tax?

• 22%

• 56%

• 57%

• 62%

What is one of the main goals of Vice President Harris's tax plan?

• To increase tariffs on imported goods

• To simplify the tax code

• To advance economic and social goals

• To reduce the federal deficit

What is the estimated cost of extending the TCJA over ten years?

• $3 trillion

• $4.5 trillion

• $2 trillion

• $1.5 trillion

What was a significant change made by the 2017 Tax Cuts and Jobs Act?

• Increased corporate tax rates

• Doubled the standard deduction

• Eliminated Social Security taxes

• Introduced a national sales tax

What is a potential consequence of exempting Social Security benefits from taxes?

• It will increase Medicare insolvency by six years

• It will decrease the federal deficit

• It will simplify the tax code

• It will increase the standard deduction

What is a key component of Harris's plan that differs from Trump's?

• Exempting tip income from taxes

• Increasing the child tax credit

• Introducing new tariffs

• Reducing corporate tax rates

What is a major focus of Harris's tax proposals?

• Increasing the role of the federal government

• Reducing tariffs on imported goods

• Reducing the federal deficit

• Simplifying the tax code

What is the proposed corporate tax rate under Harris's plan?

• 35%

• 28%

• 25%

• 21%

What is the potential impact of Trump's proposed tariffs?

• They will replace all federal income taxes

• They will reduce the federal deficit

• They will act as a national sales tax

• They will increase domestic production

What is a significant partisan divide regarding corporate taxes?

• 85% of Democrats support higher corporate taxes

• 45% of Republicans support higher corporate taxes

• 85% of Republicans support higher corporate taxes

• 60% of Democrats support lower corporate taxes