In a speech in the must-win state of Pennslyvania on Wednesday, Harris cast herself as "a capitalist" with a pragmatic approach to boosting the middle class.An hour before the speech, her Republican rival Donald Trump touted his own economic agenda - including a 15% made-in-America tax proposal - while visiting North Carolina.
Consumer sentiment is inching up again
“She’s been very aggressive about laying out specifics, and that’s what people want,” said Celinda Lake, a Democratic pollster. “It also helps that she’s a new face with a new set of life experiences, so people don’t assume her policies will be the same as Biden’s. And on top of that, inflation is abating. The fact that prices have stabilized and seem more predictable — that goes a long way.”The shift in economic polling coincides with Americans’ improving views on the economy. Consumer sentiment, at its highest level in four months, has risen 40 percent from its low in June 2022, according to a closely watched survey from the University of Michigan. The latest figures show that Americans are feeling better about inflation, as well as the economy and their own finances. Researchers also noted that “a growing share of both Republicans and Democrats now anticipate a Harris win.”
He repeated false claims that Chinese automakers are putting up large factories in Mexico, vowing during a stop in the automaking state of Michigan to slap 200% tariffs on any vehicles the unbuilt plants make and ship to the United States.
He also claimed during an event in Flint that if Democratic Vice President Kamala Harris is elected in November, there will be no more auto industry in the U.S., because work building electric vehicles will go to China.
“If I don’t win, you will have no auto industry within two to three years,” 'Old Donald' said, calling any increases under Biden and Harris temporary. “You will not have any manufacturing plants. China is going to take over all of them because of the electric car.”
While 'Old Donald' wants to leave all of those cuts intact, Harris has embraced raising taxes on those making above $400,000, arguing that wealthy Americans aren’t shouldering their fair share and that the 2017 cuts overwhelmingly benefited them. She also has indicated she backs increasing taxes on capital gains, such as stock earnings, for high-earners and tightening rules for estate taxes.Leaders in both parties will face pressure from some members to raise or eliminate a cap on the federal tax deduction for state and local taxes imposed by the 2017 law. Doing so would be costly and overwhelmingly benefit high earners.
Dan Nardo, a retired boat broker, said he believed the pandemic, oil prices, foreign wars and supply chain issues have more to do with price rises than the US president.One of the reasons 'Old Donald' is failing to land that message is the Harris campaign’s strategy of putting proposals to try to lower the cost of living at the heart of her pitch.
In a speech in North Carolina on Friday, Ms Harris promised to expand child tax credits, help people to purchase their first homes, and to encourage the building of more affordable housing.
She also said she hoped to tackle the persistently high price of food and groceries by banning “price gouging” or excessive corporate profiteering.
Joe Biden and Kamala Harris ought to be able to boast about some very good economic indicators. There is strong growth, record levels of job creation, and this week the inflation rate fell below 3% for the first time during Mr Biden’s presidency.
Prominent economists have warned "Old Donald"'s plan to impose a flat 10 percent to 20 percent tariff on countries he says "have been ripping us off" would cause prices to rise for American consumers and hurt U.S. businesses while likely triggering retaliatory tariffs.
As someone who campaigned for Sen. Bernie Sanders, I-Vt., in 2020, I would love it if the candidate currently ahead in the polls was actually “much more” left-wing than Bernie. Sadly, the picture painted by 'Old Donald' and Musk is completely detached from reality. Don’t expect to hear anything at the Democratic National Convention that comes within a thousand miles of a democratic socialist program.
This is a country where it’s not unheard of for diabetics to die because they try to ration out their insulin and medical debt is a leading cause of bankruptcy. Even people who are lucky enough to have private insurance often stay at jobs they hate for fear of losing it. Providing every American with public insurance would be a massive step in the right direction.
Cookie Monster recently complained on social media that his favorite food was getting smaller. "Me hate shrinkflation!" the fuzzy blue monster declared. "Guess me going to have to eat double da cookies!"Shrinkflation isn't new. - 14 Cases Of Amazing Food Shrinkflation In 2024
It's been happening for years. But people seem to be paying more attention right now amidst high food prices and inflation. And the White House is clearly aware of that.
After years of rising prices, many Americans are fed up with paying more and getting less. Will the pendulum ever swing back?