To actual policy in this election, I think a hybrid of both would be good. I like where each are going with some things, but how they are doing it, I'd love to see adjustments. Hopefully whatever one is in would have the ability in Congress for the adjustments. Which I know would NEVER happen, but just nice to think I guess.
I like the concept of trying to get the uber wealthy to pay an equivalent tax rate as the average American on earnings. I do not like the Harris plan of going after the unrealized capital gains. I know, it is only those that have whatever ridiculous amount and would only target the top 1%. But it definitely opens the door for taxing this and other property taxes for the federal government. The state and local municipalities already hammer us with property taxes. When I lived in VA, they would go after the value of your car and other property. I'd much rather see legislation to curb "Buy, Borrow, & Die". I know some will say that you don't need to be uber wealthy to take advantage of this, but that really isn't the point. People are legally avoiding taxes doing it, take the legally out of the equation is the goal. I'd imagine talking to IRS attorneys would give hundreds of other suggestions of how to close loopholes that would mostly effect the uber wealthy. And not their actual businesses. Maybe some would pass it onto consumers, but then it really becomes a consumption tax, which in theory, I support. Although thousands of flaws in a full consumption tax concept.
I agree with Trump on keeping business taxes lowered. Raising these would definitely just be passed along to consumers, again, would be basically a consumption tax as a result. Which that part, I am not too worried about, but slowing business growth, elevating inflation and GDP would be more of the concern. I'd love to see tax cuts be more on an incentive basis. Industry publications, IRS & Bureau of Labor Statistics all keep track of what is good compensation for what job. Set tax policy to incentivize higher pay for their workforce. Just cutting business taxes and relying on the top 1% to pass that along to the workforce, is laughable. I'm sure some do, but there is a reason the top 1% are the top 1%.
Both are going to add a ton to the deficit with their plans. What happened to fiscal conservatism??? It seems to be extinct? At least with the Dems, you know there is going to be spending... On many programs that are maybe "nice objectives", but half of the country doesn't want their taxes raised to pay for. How can anyone that has considered themselves fiscally conservative even look in the mirror without vomiting looking at Trump's record of spending and plans to do more. His fiscal policy is to just print more money... I believe either 3rd or 4th on the list of our government spending, is interest payment on the deficit, not actually paying it down. We need to stop with billing our kids/grandkids for our horrible spending. I don't really want to pay higher taxes, but kicking the can is just making it even more of a burden for them.