Kamala Harris in Forbes Magazine


On Education: Federal money to subsidize teach pay raises

How, exactly, is this federal money supposed to end up in local teacher hands? Harris' plan calls on the feds to contribute the first 10% of the money needed to finance the raises (which are supposed to be, on average, $13,500 per teacher). Then her administration will "incentivize states to step up and do their part" by offering a sort of three-to-one matching fund. For every dollar the state kicks in, the feds will kick in three.
Source: Forbes Magazine, "Four Reasons," on 2020 Democratic primary Mar 26, 2019

On Free Trade: Trump Tax: tariffs are a national sales tax

Trump doubled down on his plan to raise tariffs on imported goods over the weekend after Harris slammed the plan as a "Trump tax" that would raise prices--echoing the views of many economists, who believe Trump's plan would burden everyday consumers even as the ex-president has claimed otherwise.

Harris slammed Trump's plan, saying it was "in effect, a national sales tax on everyday products and basic necessities."

Most experts say tariffs raise prices for consumers: The cost of tariffs can be absorbed by some combination of U.S. businesses that import goods, the customers who purchase them and foreign businesses that export them--which might lower their prices to make up for the tariffs--but the right-leaning Tax Foundation found previous tariffs levied during Trump's first term were paid by US businesses and consumers.

Moody's chief economist told CNN, "If Trump increases tariffs as he has proposed, the economy would likely suffer a recession soon thereafter."

Source: Forbes Magazine on 2024 Presidential hopefuls Aug 19, 2024

The above quotations are from Forbes biweekly business magazine.
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