If you like your money, Kamala Harris will take your money (if she's elected President).
2020 Presidential hopeful Senator Kamala Harris (D-Calif) has a bold strategy for her campaign" she wants to raise your taxes by totally repealing the 2017 tax reform plan.
Harris proudly proclaimed this policy position at an American Federation of Teachers (AFT) event in Detroit, setting herself apart from many of her in the Democratic presidential primary who are calling for only a partial repeal of the law.
A total repeal would eliminate f the law’s most popular provisions, like doubling the standard deduction and increasing the child tax credit.
Kamala told the audience, "On Day One, we’re going to repeal that tax bill that benefited the top 1% and corporations."
While the Democrats are trying to paint the picture that the tax cuts only benefited the rich, nothing could be further from the truth. The tax cuts reduced rates for middle class households and doubled the standard deduction to $12,000 for individuals and $24,000 for families. The law also doubled the child tax credit to $2,000 and gave relief to those hit by the alternative minimum tax and death tax.
Over the next 10 years the average household income will expand by $26,000 because of these tax cuts.
The average single tax payer save $1,400 in taxes in the first year of tax reform and married couples with two kids will kept $2,918 more that what they took home the previous year.
You may not like paying taxes, but Kamala core constituents don't necessarily agree with you. Kamala is the Junior Senator of California, a state ranked #1 for highest income taxes, #8 for highest property taxes, and #9 for highest sales tax.
Kamala is the first 2020 Dem candidate to brag about pushing for a full repeal of tax reform while Sen. Kirsten Gillibrand (D-N.Y.), Sens. Cory Booker (D-N.J.), and Amy Klobuchar (D-Minn.) all support a partial repeal. Much like most affluent Democrat politicians, these people have no idea what it means to be middle-class. They're trying to take your money because they want to spend it for you and they insist they know what's best for you.
Are they right?
Photo of shrill lawmaker by Getty Images