Staff Reports
Vice President Kamala Harris is trying to steer her economic ship away from the iceberg that is President Joe Biden’s policies, all in a frantic bid to shore up her appeal ahead of the 2024 election. With Republicans launching their barrage of critiques on her record, Harris is now donning a more centrist persona, a stark contrast to her earlier days as a hard-left senator from California and 2020 presidential contender.
This newfound economic moderation became evident when Harris unveiled her plan to raise capital gains tax at a “more reasonable” rate of 28%, considerably lower than Biden’s eye-popping 39.6% for those pulling in over $1 million. This is clearly a political maneuver as she attempts to forge a path distinct from Biden’s administration, which is being blamed for soaring inflation and overly burdensome tax policies. It’s almost like witnessing a swimmer frantically flailing their arms to stay afloat—only this time, it’s Kamala trying to break free from the sinking ship of the Democratic agenda.
Harris signals friendlier-than-Biden business stance despite railing against corporate greed https://t.co/qVyI0RlBH6
— Washington Examiner (@dcexaminer) September 5, 2024
Adding to her attempts at rebranding, Harris proposes boosting the small business tax deduction from a meager $5,000 to a substantially less meager $50,000. In a move that could possibly be interpreted as an attempt to woo everyday Americans, her lofty goal includes conjuring up 25 million new small business applications within her first four years. One has to wonder, would Kamala even have time for diplomacy or world affairs while she operates as the CEO of the Small Business Administration?
As her campaign continues to pivot away from contentious policies, she has also distanced herself from a federal job guarantee, a pipe dream for many Green New Deal advocates. Earlier commitments to ax private healthcare plans and ban fracking are now distant memories, showcasing an impressive balancing act resembling a tightrope walker in a circus—except no one is laughing.
In a bid to revitalize her image amongst middle-class voters, Harris has been busy painting herself as the defender of ordinary Americans while branding the former President Donald Trump as the crony of billionaires. The irony is rich here, as Republicans have fired back by serving her a hefty dish of blame for the economic fallout that stems from Biden’s reign and the aftermath of COVID-19 lockdowns. In a rallying cry, Trump pointed out that the Biden-Harris duo is leading the country toward an economic depression reminiscent of 1929. A bold claim, but one that certainly resonates with those feeling the pinch at the grocery store.
As the election season heats up, all eyes are set to focus on the upcoming debates. Harris will face off against Trump in a no-holds-barred showdown that will be a litmus test for her capability to hold on to the actual support she has ring-fenced thus far. With the previous debate serving as a catalyst for Biden’s withdrawal, the pressure is on Harris to perform—because if she slips, it looks like the only thing that could be rising faster than inflation is her chance of getting booted from the ticket altogether.
