A new study from the Tax Foundation pours A LOT of cold water on Kamala's multi-trillion-dollar tax hike — the largest in U.S. history.

 

 

Here's what you need to know:

• Kamala's tax hike plan would decrease incomes by 1.8%, reduce GDP by 2%, and reduce capital stock by 3% — and the analysis "likely understate[s] the effects."
  
  
• Kamala's plan would kill 786,000 jobs:
  • Raising the net investment income tax and the additional Medicare tax would kill 177,000 jobs.
  • Raising the corporate income tax to 28% (higher than communist China) would kill 125,000 jobs.
  • Raising the top individual income tax rate would kill 86,000 jobs.
  • Levying a first-ever 25% tax on unrealized capital gains would kill 75,000 jobs.
    
    
• Kamala's plan would do nothing to address affordability:
  • Her homebuyer "assistance" scheme would cost hundreds of billions of dollars — while relying on subsidies for supply-constrained housing would be "economically harmful for families," "lead to higher housing prices," "further penalize rental housing construction" and reduce investment incentives.
  • Her "ruinous," Soviet-style price control scheme would "harm consumers by reducing incentives to produce price-controlled goods."
    
    
• Kamala's plan would raise U.S. taxes to among the highest of Organization for Economic Cooperation and Development (OECD) countries:
  • The top combined personal tax rate would be higher than the average.
  • The top combined corporate tax rate would be the second highest — behind Colombia. 
  • The top combined capital gains tax rate would be the second-highest.
  • The top tax rate on dividends would be nearly the highest.
  • The top combined integrated rate on corporate income would be the highest.
    
    
• Kamala's plan could add trillions to the deficit over the next decade.

Of course, Kamala is currently speaking in broad generalizations to mask the lunacy of her Radical Leftism, so the real-world impacts would be much more devastating.

 

One thing is certain: Kamala Harris is running to finish the job of destroying the country — and only President Donald J. Trump can save us.

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