Politics

'HERE'S WHAT I THINK...': JD Vance Absolutely Shreds Kamala Harris' Policy Positions in X Thread

posted by Hannity Staff - 9.10.24

Vice Presidential candidate JD Vance shared his thoughts on Kamala Harris’ recently uploaded policy positions in a lengthy X thread this week; he’s not a fan.

Vance addressed the fresh policy positions point by point.

“It has been 50 days since Kamala Harris became the presumptive nominee of the Democratic Party,” Vance’s first post said.” In the dead of night yesterday, she finally released her campaign policy page. Here’s what I think of it.”

 

⁨⁨1) Kamala Harris claims she wants to cut taxes for middle-class families, but here’s what’s in her plan:

IRS Audits for working families: Getting audited is a horrendous experience, even if you’ve done nothing wrong. Harris cast the tie-breaking vote to hire 87,000 IRS agents to audit more people. As recently as last summer, 63% of new audits fell taxpayers earning less than $200,000.

The IRS, like Kamala Harris, claims that it’s not going to increase audits on people making under $400K, but the Treasury Inspector General stated the agency’s strategic plan, “did not include specifics on how the IRS was going to ensure it met this commitment.” That’s because they have no intention of ensuring they’re not going to audit middle class families—that’s where they’re going to find the money to pay for their massive spending proposals.

Treasury Secretary Janet Yellen, under questioning in the House, could not deny that 90 percent of new audits under the IRA would be on households earning less than $400,000. The nonpartisan Government Accountability Office found that the majority of additional taxes the IRS recommended from audits from 2010-2021 came from taxpayers with income less than $200,000.

It’s even harder to pretend that taxing working men and women isn’t their focus when you think about the reporting requirement Biden-Harris signed into law to require businesses to fill out a 1099K form on transactions over $600 made using third-party payment platforms. The reporting threshold before their bill was $20,000.

There’s no minimum number of transactions in their bill, so a single transaction over $600 that triggers the reporting requirement creates more paperwork. Even Senate Democrats have backed different bills to blunt the impact of this enormously burdensome mandate.

The Government Accountability Office found this aspect of the Harris tax record would result in at least 30 million new 1099K forms getting sent out in 2024. The Joint Committee on Taxation found that over 90 percent of the tax burden will fall on middle class families and gig workers.

The Biden-Harris tax plan, as explicitly outlined in their formal budget request to Congress would increase taxes by $5 trillion. That’s going to stack on top of her inflationary climate spending bills and drag the economy down further. It’s been estimated that “the tax changes in the Biden-Harris budget would reduce long-run GDP by 1.6 percent…wages by 1.1 percent, and employment by about 666,000 full-time equivalent jobs.”

That’s nearly a million people out of work and lower wages for everyone in order to shift money towards the Harris Green New Deal—as she said to CNN in her first interview after nearly a month as the Democratic nominee, her values haven’t changed on that policy, which she supported enthusiastically when she was in the Senate.

All in all, the Biden-Harris record has been a massive wealth transfer from working people to the Green New Deal’s constituencies—the Harris tax plan is going to be more of the same, no matter what kind of claims she makes during the campaign.⁩

Kamala wants to give every first time homebuyer a $25,000 check toward downpayment assistance. What she fails to leave out is that this would likely raise the average home price by the same amount, making her plan moot. We also haven’t heard how the debt-burdened federal government would pay for such a plan …

There’s also no guarantee that this down payment assistance will be limited to citizens. The campaign has yet to lay out what requirements there will be, beyond being a first time homebuyer and having a two year history of rental payments …

Vice President Harris also mentions how she’ll spur the construction of ‘3 million more rental units.’ While she outlines an admirable plan, it’s tough to take it seriously. This Vice President has overseen an administration that has enacted new red tape for multi-family and single-family construction. We’ve seen her Housing and Urban Development Department enact green energy requirements for new rental units, mandatory strictly-cosmetic updates to public housing units, and more regulations that will make it harder to grow the rental supply.

That’s not the end of it. The Vice President seems to think that the ongoing housing crisis is strictly due to a supply problem, but it’s not. Her policies have also driven demand for housing through the roof, particularly when looking at the price and availability of rental units …

When a city’s immigrant population increases, the area’s home prices and rental costs rise by a comparable amount. But the effects vary by neighborhood: home values are negatively correlated with the immigrant concentration. The result: only current homeowners in non-immigrant, wealthy neighborhoods stand to benefit from mass immigration. Working-class residents see their rental costs soar, and their home values decline.

Full X thread over at Not The Bee:

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