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How does the presidential candidate hope to empower the middle class?
What are her plans for strengthening the economy?Heres a look at some of Harris major proposals.
Housing Support
Its no secret that U.S. home prices are at all-time highs.
In fact, theyve skyrocketed by 54% since 2019, according toa Washington Post report.
Although the proposal certainly sounds promising, experts have mixed views on its effectiveness.
Plus, some experts note that down-payment support might have the opposite effect of what was intended.
Since the demand for housing would increase, the prices likely would grow, too.
This policy was in effect in 2021 during the pandemic but was then discontinued thereafter.
During the time this policy was in effect, the number ofchildhood poverty casesfell by almost half.
How does she plan to achieve this?
By making filing taxes cheaper and easier than ever before.
Reducing regulation on small businesses would also benefit middle-class business owners, Kates said.
While this proposal has generated quite a buzz in the media, it is a relatively niche issue.
According toYale Universitys Budget Lab, less than 3% of the entire U.S. workforce regularly receives tips.
Plus, around 37% of these workers earn so little that they dont pay income taxes at all.
Medical Costs
Significant changes can be expected in medical costs as well.
While these proposals sound promising, remember to take them with a grain of salt.
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