A Kamala Harris win and a Democratic sweep would give the biggest boost to the economy, Goldman Sachs says. Harris’ middle-class tax credits would outweigh the decreased investment driven by higher corporate taxes.
https://qz.com/kamala-harris-donald-trump-gdp-economy-goldman-sachs-1851639343
29 Comments
Given that corporate tax cuts don’t boost the economy, I doubt Goldman is correct about corporate tax increases dragging it down. We need to stop letting the recipients of those tax cuts keep lying to us about them.
Money to the middle class and working poor is spent on stuff and boosts the economy. Money to corporations pays for stock buybacks.
Democrats create jobs and economic booms.
This has proven over 40 years.
Of course Harris’s policies are better
Yes, it’s better to take care of the golden goose (the working class) rather than killing it out of greed.
Unfortunately, as much as it would make me happy, a Democratic sweep doesn’t look too likely. Democrats are poised to lose the Senate this time around; we are certainly losing West Virginia, and things aren’t looking too good in Montana. Losses in both of those places would bring the balance to 49/51. We’re also defending seats in almost every purple state this time around, and we need a clean sweep. There are no pickup opportunities this cycle.
I think people need to temper their expectations for a Harris presidency, at least until 2027. Not only will it be harder for her to pass bills with a GOP senate, it will also be more difficult to get her cabinet appointments confirmed. If the Republicans don’t decide to stonewall her entirely, she will have to pick a lot of blue dogs or even Republicans for her cabinet.
That is a no shit Sherlock.
In the dark ages wealth was held by the churches and royalty. People lived in abject poverty. The dark ages lasted approximately 1,000 years. When a merchant class finally arose, trade increased as did wealth and the Renaissance was born.
Maybe someone will argue with this. Okay fine. Argue away but one thing is clear; there ain’t no trickle down.
Can Dems win the House. Latest I saw the races are in majority Red states where some ground but not complete ground is to be expected.
If Dems could steer away from mean tested benefits be interesting to see what they can do for 2 to 4 years with a D controlled Congress and Executive Office.
Ofcourse, the Republicans fuck shit up and Democrats have to clean their mess but the people in their party can’t seem to see this simple thing.
Its mind boggling that people think Trump is good for the economy. WTF
How many people will read this article? FOX NEWS enjoys 1.7M prime time viewers, far more than MSNBC & CNN, and FOX sure as hell won’t air this story. In fact, most news sources won’t either, therefore, most voters are uninformed.
The media is driven by self-serving interests, and making voters better informed isn’t one of them.
I’m just hoping for the president and the House
The history shows that higher taxes encourage reinvestment including higher wages.
Even Goldman Sachs wants Kamala to win, lol.
more businesses means more competition which means more competitive prices which means more places to invest which means more opportunities for investors. Republicans are so greedy and selfish they can’t see past the end of their nose. Democrats look at the big picture.
Reaganomics was always a pyramid scam
Higher corporate taxes do not decrease investment. In fact, higher corporate taxes encourages management to pay out excess earnings as salary or bonuses (generally to themselves, but regardless) which is then taxed in the hands of the employee, increasing tax revenue. This counteracts any reduction in “investment” which obviously isn’t getting invested in anything worthwhile these days anyway based on the society-wide enshittification and the private equity ownership of once proud brands squeezed for every penny.
Tax planning to reduce tax burdens for rich people will necessitate paying out more cash to individuals to avoid the earnings being taxed at higher corporate rates. We know this because rich people will do exactly what they need to do to keep as much money as possible. The government receives tax income from the earnings instead of giving out endless tax deferrals through capital investment. Everyone wins.
This is the only good thing Goldman Sachs has ever done for this country.
Share share share! Blow up Instagram with this
Why didnt her administration do that for the entire 4 years? She did nothing and the economy has not been good why would any magical happen after she is elected? Its time for a different vision other than old dudes and DEI hires.
should call it a geyser economy, intentionally placing wealth at the bottom where it has no where to go but UP
So, you think doing what Goldman Sachs suggests is a good idea??? Think about thst for just a second….
No thank you.
There are a lot more retail investors these days. I have an account and an app, using this I can manage my own portfolio. It’s not big, but I’m getting much better interest on it than keeping it in a savings account. Just focus mostly on ETF, and a couple of good companies you believe in, and snap up extra if they drop.
Give middle class professionals (people on btw 80 and 150k per annum) a bit more money, many of them will probably invest a lot of it, directly, into the stock market. And investors like that are very stable. We are long term, we are not leveraged, and we are not a fancy algorithm.
I love all the comments from “conservatives” addicted to corporate and billionaire welfare … the real welfare queens.
America dug itself out of the depression through New Deal spending and rising wages during and after WW2. Americans extended those gains through an expanded middle class with more spending power during the 1950’s and 1960’s.
I’ve heard it reasoned that firms invested far more in R&D during higher-tax eras because the alternative was paying it in taxes.
Interesting argument but I haven’t seen data one way or the other. What we do know is that lower taxes don’t foster investment. All we’ve seen is share buybacks.
But but but Women
Rising tide lifts all boats or something
Couldn’t agree more. The American middle class is getting crushed by higher cost of living, higher home prices, higher cost of education for their kids, higher cost of healthcare and stagnant wages. Stable societies all have one thing in common: a thriving middle class. Today’s America is starkly polarized because why? Shrinking middle class. Can’t make America great again by making the rich richer and the poor poorer. Working harder isn’t enough. Middle class needs a break.
If they sweep I hope she raises business taxes even higher than she’s said.