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Both Senator Elizabeth Warren and Senator Kamala Harris want to change the tax code in a progressive way. But its interesting to note the strategy differences between the two.
Simply put, Warren wants to raise taxes on the wealthiest individuals, businesses and corporations. And Harris wants to cut tax rates for low to moderate income earners.
Both have the same goal in mind, to help out the middle and lower class by decreasing their tax burden. But the fundamentally different approach they are offering I think highlights the difference in overall economic ideology between the two. And really for the Democratic party in general.
Its my take that Harris' approach is far more centrist. Seems she takes the view the system just needs tweaking, to introduce some tax relief for those that don't make a lot as is, and in that way you will see some positive boost to the economy and help those already struggling while not really disrupting the status quo.
But that strategy is less progressive, as it doesn't get to the heart of the issue, as Warren sees it. She thinks that between tax loopholes and current tax rates on the top earners, the wealthy get away without paying anywhere close to their fair share, and the country as a whole would benefit greatly from the wealthy paying even more.
Its likely both candidates would support crossover legislation that includes both strategies. But that's not what they themselves propose, as Presidential candidates, to change the tax code.
Which approach do you find better, if either? Both are what you can label 'progressive' as they both involve cuts for the non-wealthy and/or raises on the wealthy.. either way a further shift of the tax burden to those that earn the most. Think Warren or Harris has the best idea? And which do you think has the best chance of implementing their vision, working with the GOP once elected across the aisle?
I would say Harris' ideas are more of the same and Warren's would create more change. But I am weary of creating more tax revenue when perhaps the biggest issue with this country is how we allocate and spend it once it's collected.
A good read on all this that inspired this thread - Inside The Warren Vs. Harris Battle Over Tax Progressivity