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Saturday, September 21, 2024

Lumen Christi parishioner: Harris' presidency could 'lock the economy up'

Webp wade

Lumen Christi Catholic Church | Provided Photo

Lumen Christi Catholic Church | Provided Photo

Kristin Wade, a Mequon resident and member of the Lumen Christi parish, said Harris' presidency could "lock the economy up," making things very difficult for businesses and the economy.

“I think it was a tax cut for all people. I think that they want to undo any help given to people of all spectrums in the economy,” Wade said. “I own a business. Trump did a significant amount of unraveling of regulations that were tying businesses down, and our economy has benefitted from it. It really does matter who we vote for. If Harris becomes president, it will lock the economy up. You don't really feel the pain until you start to put these things in place, and things really do start to slow down under a less business-friendly administration.”

Democratic Presidential Candidate and current Vice President Kamala Harris supports ending Trump-era tax cuts, making finances even more difficult for families with many children in this time of economic uncertainty.

While Kamala supports expanding the welfare side of the child credit, she is in favor of killing the Trump-era tax cuts, hurting American families across the board.  

“By ending the Trump tax cuts, Kamala would increase your taxes $1000 per kid minimum,” said Tom McClusky, Director of Government Affairs for CatholicVote. 

The Tax Cuts and Jobs Act (TCJA) of 2017 “reduced average tax rates for taxpayers at all income levels because it lowered marginal tax rates, widened tax brackets, doubled the child tax credit and zeroed out personal and dependent exemptions, nearly doubled the standard deduction, and limited several itemized deductions and the alternative minimum tax, among other changes,” as reported by the Tax Foundation.

“Kamala Harris wants to end the Trump tax cuts,” commented Josh Mercer, Editor of the Loop at CatholicVote, “that would mean cutting the Child Tax Credit in half and also increasing the tax rates on lower and middle class voters.”

“These tax cuts have helped average Americans across the country afford groceries, bills, and other expenses during this time of inflation,” continued Mercer. “Ending the Child Tax Credit can only be seen as an attack on traditional American families.”

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