Audio By Carbonatix
We heard a lot on Friday from both Kamala Harris and Donald Trump on what their plans are for the US economy.
Unsurprisingly, the economy - and especially costs of living - have been key concerns for American voters this election.
But how do their plans differ? Here is a quick breakdown on what each candidate is proposing:
Democratic nominee Harris:
- Harris has stated that her day-one priority would be to reduce food and housing costs for working families. She has planned on doing so by banning gouge-pricing on groceries, helping first-time home buyers and increasing the minimum wage
- She has vowed to raise taxes on big businesses and Americans making $400,000 (£305,000) a year, while raising the capital gains tax slightly to 28%. Harris has also promised to expand child tax credits for families and cut taxes for small businesses
- On trade, Harris has indicated she will have a targeted approach on taxing imports - like the current Biden-Harris tariffs on Chinese imports like electric vehicles
Republican nominee Trump:
- Trump has also tackled high costs of living, pledging to "end inflation and make America affordable again". Among his plans are increasing oil drilling, which he says will lower energy costs.
- He also promised to deport migrants, which he says will ease pressure on housing, and has vowed to remove taxes on tips and social security benefits for seniors
- He has proposed tax cuts worth trillions, including an extension of a tax cut he enacted in 2017 that mostly helped the wealthy. Trump says these taxes will be paid by higher tariffs on imports - a plan that economists have warned will add to the US ballooning deficit and that would push up prices for consumers
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Gunfire silences prosperity as PLO Lumumba warns of ‘bleeding’ African continent
45 minutes -
African Leaders must shift from speeches to action – P.L.O Lumumba
1 hour -
Ace Ankomah demands radical overhaul of Ghana’s science and innovation sector
1 hour -
Trump signs executive order threatening tariffs for countries trading with Iran
2 hours -
From Hollywood to the homeland: Why African countries are courting black American stars
2 hours -
Ambulance service slams ‘taxi transfer’ of newborn as viral negligence claims debunked
2 hours -
High stakes in Ayawaso East as NDC delegates head to the polls today
3 hours -
Youth unemployment is the biggest threat to Africa – Gabby
3 hours -
Minority demands urgent Finance Minister summons as ‘Agbogbloshie’ prices ignite parliamentary clash
4 hours -
Baba Jamal’s highest will be 38% in Ayawaso East NDC primary – Mussa Dankwah
4 hours -
Stranded beans and staggering debts: Ghana’s cocoa sector faces systemic crisis
5 hours -
Chief Justice sets up special courts for corruption and galamsey
5 hours -
Airport renaming and inflation trends to take centre stage on Joy Prime’s Prime Insight this Saturday
6 hours -
Ghana losing long-term investment capital over absence of Limited Partnerships Law – GVCA CEO
7 hours -
Experts to dissect airport renaming, economic trajectory and Dr Bawumia’s victory on Newsfile this Saturday
7 hours
