On The Issues: Harris vs Trump

Kamala Harris and Donald Trump Credit: Kamala Harris and Donald Trump Debating

On September 10, the presidential race will witness a pivotal moment as Vice President Kamala Harris and former President Donald Trump take the stage in a highly anticipated debate hosted by ABC News in Philadelphia. This encounter marks the first time Trump and Harris will debate face-to-face, offering voters a clear view of their starkly different visions for America. Kamala Harris, known for her progressive policies, champions issues like comprehensive healthcare reform, climate change initiatives, and social justice. In contrast, Donald Trump continues to advocate for his America First agenda, focusing on deregulation, tax cuts for businesses, and a stringent immigration policy. The following article, written with the intent to educate - rather than advocate for one candidate or the other - delves deeply into each candidate's stance and historical record on crucial issues such as the economy, abortion, firearm regulations, energy policies, and their approach to global affairs, providing voters with an essential guide to understand what each candidate stands for as they head towards the November election.

Table of Contents

  1. Economy
  2. Healthcare
  3. Crime & Public Safety
  4. Social Welfare
  5. Abortion
  6. Firearms
  7. Immigration
  8. Education
  9. Climate Change
  10. National Security
  11. Election Integrity
  12. Foreign Affairs
  13. Freedom of Speech
  14. Veterans
  15. LGBTQ+
New York Stock Exchange (NYSE) Credit: Pexels - New York Stock Exchange (NYSE)

Economy

Kamala Harris and Donald Trump present contrasting economic visions for the United States. Harris's plan emphasizes increasing taxes on the wealthy, expanding social safety nets, and investing heavily in clean energy and infrastructure, aiming to reduce income inequality and create a more inclusive economy. In contrast, Trump’s platform focuses on aggressive tax cuts, reducing government regulations, and imposing high tariffs to protect U.S. industries, with the goal of stimulating growth and promoting domestic manufacturing. While Harris seeks to address long-term social challenges through progressive taxation and spending, Trump prioritizes immediate economic growth through deregulation, tax relief, and trade protectionism, leading to starkly different approaches to handling inflation, jobs, and the national debt.

Kamala Harris Discussing Her Economic Plan Credit: Forbes - Kamala Harris Discussing Her Economic Plan

The Economy: Harris

Kamala Harris’s 2024 economic plan emphasizes creating a more equitable and inclusive economy by focusing on progressive taxation, expanding social safety nets, and major investments in clean energy and infrastructure. Her policies are designed to reduce income inequality, address long-term social challenges, and shift the U.S. toward a greener, more sustainable future.

Tax Reform

A key element of Harris's economic plan is tax reform, targeting the wealthy and large corporations. She proposes a minimum of 25% tax on unrealized capital gains for individuals with over $100 million in net worth, taxing the growth of assets even if they haven't been sold. Harris also advocates raising the corporate tax rate from 21% to 28%, aiming to use this revenue to fund essential programs like healthcare, education, and infrastructure. In addition, Harris supports a progressive tax system that provides relief to working and middle-class families by expanding the Earned Income Tax Credit (EITC) and narrowing the income gap. Both Harris and Trump have advocated for increased child tax credits and 'no tax on tips' plans.

However, critics argue that these tax increases could discourage investment by taxing unrealized gains and reducing after-tax profits for businesses. They warn that this could slow economic growth, lead to job losses, and push companies to move operations overseas. The higher corporate tax rate could also increase prices for consumers as businesses pass on their costs, and some fear it could make the U.S. less competitive globally, ultimately reducing domestic production and stifling innovation.

Clean Energy and Infrastructure

Harris’s economic vision includes a commitment to clean energy investment and infrastructure modernization. Harris plans to invest trillions in renewable energy projects, including expanding wind, solar, and electric vehicle (EV) infrastructure. This ambitious green agenda is part of a broader strategy to transition the U.S. to a carbon-neutral economy by 2050. Her plan includes providing incentives for companies that adopt sustainable practices and increasing federal funding for research and development in clean energy technology.

Harris also proposes a massive infrastructure overhaul, with a focus on building resilient roads, bridges, and public transportation systems, especially in underserved communities. By investing in infrastructure, Harris argues, the U.S. will create millions of well-paying jobs while modernizing the economy to meet the challenges of the future. Critics, however, point to the enormous costs of her plans, warning that without careful budget management, these investments could balloon the national debt, which currently stands at $35 trillion. Others argue that the timeline for achieving a carbon-neutral economy is overly ambitious and could have unintended economic consequences, such as job losses in traditional energy sectors like oil and gas.

Social Safety Nets

Harris emphasizes the importance of strengthening social safety nets to provide greater security for lower-income Americans. She plans to expand Medicare and Medicaid, moving toward broader universal healthcare access. While she no longer advocates for a full Medicare for All system, Harris supports a public option that would allow all Americans to access affordable healthcare. Additionally, she aims to lower prescription drug prices by enabling Medicare to negotiate directly with pharmaceutical companies and capping out-of-pocket costs for essential medications.

Her approach to childcare and education includes substantial investments in universal pre-kindergarten, expanding access to affordable childcare, and providing free community college. Harris believes these initiatives will reduce income inequality and increase social mobility by offering more opportunities for working families. However, critics argue that expanding these programs could significantly raise government spending without proper oversight, leading to concerns about long-term funding. Additionally, opponents claim that her proposals for drug pricing are akin to price controls, which they argue could disrupt market supply and demand, potentially leading to inefficiencies and negative economic impacts.

Minimum Wage & Labor Rights

Harris is a strong advocate for raising the federal minimum wage to $15 per hour, arguing that higher wages for low-income workers would stimulate economic growth by increasing consumer spending. She believes that putting more money into the hands of those most likely to spend it would boost demand and spur job creation. Harris also supports strengthening labor rights protections, including making it easier for workers to unionize and negotiate for better wages and benefits.

However, critics warn that raising the minimum wage could lead to unintended consequences, such as increased labor costs for businesses. Opponents argue that this could result in job losses, particularly for small businesses, as they struggle to absorb higher payroll expenses. Additionally, companies may pass these costs on to consumers, leading to higher prices for goods and services. Critics suggest that while some workers would benefit from the wage increase, others could face layoffs or reduced hiring opportunities, particularly in industries with thin profit margins.

Donald Trump Discussing His Economic Plan Credit: Newser - Donald Trump Discussing His Economic Plan

The Economy: Trump

Donald Trump’s 2024 economic plan centers on a combination of tax cuts, aggressive tariffs, reducing government inefficiency, and expanding domestic energy production. His policies aim to stimulate the U.S. economy, reduce inflation, and protect American industries while addressing government waste.

Tax Cuts

A key part of Trump’s economic plan is the extension of the 2017 Tax Cuts and Jobs Act (TCJA), along with further tax reductions for both businesses and individuals. He proposes lowering the corporate tax rate from 21% to 15%, but only for companies that manufacture goods domestically. Trump also plans to eliminate taxes on Social Security benefits, providing relief to retirees, and end taxation on tipped wages, benefiting service industry workers. Additionally, he seeks to increase the child tax credit, offering more support to families and potentially boosting disposable income for middle-class households.

Trump believes these tax cuts will spur job creation, increase disposable income, and attract business investment. However, critics warn that without appropriate revenue offsets, these cuts could significantly increase the federal deficit. While tax cuts may drive short-term growth, economists caution that they can also lead to long-term fiscal imbalances if not paired with spending reductions or new revenue streams. The concern is that these policies could add trillions to the national debt, limiting the government’s ability to invest in crucial areas like infrastructure, education, and healthcare, placing additional strain on future generations.

Tariffs

Trump’s tariff policy is one of his most ambitious proposals. He plans to impose a 10% tariff on all imports and a 60% tariff on Chinese goods to protect industries like steel, aluminum, and automotive manufacturing. These tariffs aim to boost domestic production and generate revenue to offset the tax cuts, while also targeting companies that offshore jobs, particularly those relocating to Mexico. However, these measures risk leading to trade retaliation, increasing consumer costs and hurting U.S. exports, as seen with past protectionist policies like the Smoot-Hawley Tariff Act of 1930, which contributed to a global economic downturn.

Proponents argue that tariffs are necessary to counter unfair trade practices, such as China’s dumping and currency manipulation. They see tariffs as leverage to negotiate more favorable trade agreements and a way to generate revenue for infrastructure and innovation, ultimately making the U.S. more competitive globally. Supporters also view tariffs as a way to reduce the trade deficit and promote American self-reliance in critical industries, aligning with Trump’s broader economic goals. Critics, however, point to the 2018 steel and aluminum tariffs, which raised costs for U.S. manufacturers without significantly boosting domestic production.

Department of Government Efficiency (DOGE)

Trump proposes creating a Department of Government Efficiency, inspired by Elon Musk's approach to streamlining businesses. The department’s goal would be to identify and eliminate unnecessary federal spending, similar to reforms implemented by Javier Milei in Argentina. By cutting waste, consolidating agencies, and reducing red tape, Trump aims to save billions and offset deficits from his tax cuts and tariff plans, ensuring fiscal stability without raising taxes.

This department would operate with a business-like approach, focusing on cost-benefit analysis and maintaining only essential programs. Musk, known for creeating successful companies like Tesla and SpaceX, would play a key role in shaping its structure. Supporters argue this strategy could reduce government bloat, but critics warn that overly aggressive cuts could harm essential services like education and healthcare. Achieving meaningful savings could also face political resistance and challenges from entrenched bureaucracy. Despite these concerns, Trump’s plan reflects his broader goal of shrinking government and increasing efficiency.

Cryptocurrency and Financial Innovation

Another key pillar of Trump’s economic vision is transforming the U.S. into the global capital for cryptocurrency and financial technology (fintech). Trump argues that by fostering innovation in these areas, the U.S. could establish a thriving new industry that generates high-paying jobs and strengthens the country’s position in the global economy. He believes that embracing cryptocurrencies, such as Bitcoin, and promoting blockchain technologies could drive investment and stimulate the development of a more modern and efficient financial infrastructure. In doing so, the U.S. could position itself as a leader in financial innovation, attracting both domestic and international businesses, and ensuring that the country remains competitive on the global stage as fintech continues to evolve.

However, critics of this approach point out several risks and uncertainties. While Trump's plan to embrace cryptocurrency innovation could lead to significant economic growth, the lack of regulatory clarity is a major concern. Without a clear and balanced regulatory framework, the rapid growth of the crypto market could lead to issues such as fraud, market volatility, and financial instability. Additionally, there are concerns that promoting cryptocurrencies could facilitate illicit activities such as money laundering and tax evasion.

Healthcare Credit: Grok AI - Healthcare Professional

Healthcare

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Crime & Public Safety

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Social Welfare

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Abortion

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Firearms

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Immigration

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Education

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Climate Change

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National Security

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Election Integrity

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Foreign Affairs

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Freedom of Speech

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Veterans

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LGBTQ+