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“Americans are clearly still anxious and angry about the high cost of groceries, housing and even $5.29 Big Macs,” the editorial board wrote. “While the inflation rate has cooled substantially since the 2022 peak, an ostensible Biden-Harris administration accomplishment, prices remain elevated relative to the Trump years”:
So it’s a real political issue for Ms. Harris. One way to handle it might be to level with voters, telling them that inflation spiked in 2021 mainly because the pandemic snarled supply chains, and that the Federal Reserve’s policies, which the Biden-Harris administration supported, are working to slow it. The vice president instead opted for a less forthright route: Blaming big business.
“She offers clever tax incentives to help make it happen,” the editorial board wrote. “But her proposed $25,000 in down payment assistance for first-time home buyers stimulates the demand side, which risks putting upward pressure on prices. Such a measure might make sense if Ms.
The editorial board added that Harris’s promise to not raise taxes on families earning $400,000 or less each year did not include “80 percent of taxable income, and does not take into account the recent surge in families earning over $400,000.”that without a concrete plan to “raise revenue,” the policies proposed by Harris would add “$1.7 trillion over a decade” to the federal deficit.
“The Harris campaign has said this would be paid for through taxes on corporations and high earners and that they support the revenue raisers in the President’s Fiscal Year 2025 budget but has not put forward specific offsets as part of their Agenda to Lower Costs for American Families,” the report said.
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