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Disappointment borne not just from political opinions, but actualfinancialimpact on their wallets.
Beware of the following financial risks that the candidates poseas the election reaches its climax.
For example, Harris healthcare proposals could lead to increased costs for middle-income families.
Republicans and Democrats differ on the enhanced subsidies under theAffordable Care Act.
Somebody has to pay for those, and that somebody is the American consumer.
Retailers dont just swallow those losses they pass them on in the form of higher prices.
While less vocal in promoting them, Harris has backed tariffs, too.
That move angered some environmentalists, who wanted to seemore affordable accessto EVs.
Inflation
Tariffs arent the only inflationary policy that both candidates have embraced.
Trump hopes to make the tax cuts from the Tax Cuts and Jobs Act of 2017 permanent.
Currently, most provisions sunset at the end of 2025.
But lower personal and corporate tax rates are designed to stimulate the economy which drives inflation.
The former president has also repeatedly called forless corporate regulation, another form of economic stimulus.
It, too, can lead to faster price increases.
Higher government spending drives not just inflation but also the nations debt.
A growing economy can help, but only if it grows faster than government spending which it hasnt.
That leaves the storm cloud of higher taxes looming on the horizon.
They have also proposed tighter restrictions on retirement account contributions for higher earners, although details have been scarce.
The bill would tax inheritances between 55%-75%, according toHarrison Estate Law.
Some sectors of the economy are especially reliant on immigrant labor and innovation.
The study estimates the public cost of mass deportations alone at $315 billion.
Whoever takes the Oval Office in 2025, watch out for your wallet by paying attention to policy changes.
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