Secular Talk Confuses "Based" With "Basic" When Discussing Kamala Harris' "Economic Plan"
Such a wonderful plan that it's not (as of this posting) on her campaign website, huh?
But let's just address the "high points" on the screenshot:
- $25,0000 Subsidy for First-Time Homebuyers. There are currently around 15.1 million vacant homes in the US, so it's not because of a lack of available housing. Also the median sale prices for new homes is $417,300 (for those in the US, check on what it is in your state). So even if this tepid offer allowed all 1 million people to get a house, there's still over 14 million empty homes. And this doesn't begin to address the people who lost their homes when the housing market collapsed in 2008. This plan only sounds good if you haven't been following politics since 2004.
- $6,000 Child Tax Credits. The average cost of having a child in the United States is $18,865. Good luck finding the remaining $12,865 when the median income is around $48k. Again: it helps, but not enough.
- Elimination of Medical Debt. Sounds nice, but I reserve judgment until I get an update on "how much" and "how many."
- Ban on Price Gouging for Groceries & Food. The grocery stores raised their prices because their vendors raised theirs, because their suppliers raised theirs. You go back enough, you'll get to the oil/gas industry (pretty much everyone still needs gas to fuel their transports). Any one who watches a "Democracy @ Work" video on inflation knows this. A price-gouging ban targeting oil companies would have a bigger impact. But go ahead an fine a mom & pop store or even an Aldi's out of business so Amazon can eventually get more of a market share.
- Cap on Prescription Drug Costs. A more effective move is removing restrictions from buying the same (or similar) prescriptions from countries Canada and Cuba (although it seems that the US has eased on the former a bit). You know, that whole "free market" thing.
- Earned Income Tax Credit Expansions. Once again, why not go bigger? I mean, if I'm reading this right, the amount has been around $10,000 since 2021 so why bump it up to only $21,500? Also, this program specifically targets "workers with qualifying children" so there's another means-tested roadblock.
Not wanting to be completely gloom & doom here, how about some counter-proposals:
- Medicare For All. Medicare, but for everyone. Child births are covered, the government negotiates prices directly with the medical industry and insurance companies are minimized into irrelevance.
- Raise taxes of the rich to at least 75% (this will help pay for Medicare For All).
- Eliminate all Student Loan Debt.
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