Rich Rubin
speaker
137 appearances
2 recordings
1 series
first heard Jun 2024
last heard Sep 2024
Rich Rubin’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, two reasons.
One is that control of the White House, the House, and the Senate is all up for grabs, and all three are close.
So it matters a lot, depending on how this election goes, what will happen to people's taxes.
And then the second big reason is that
So much of the tax system expires at the end of 2025.
The bulk of the individual tax cuts that Congress passed in 2017 are scheduled to lapse.
And so no matter who wins, the next Congress will be dealing with taxes.
It's not the top issue for voters.
It is in the sense that if you think of the economy as a top issue for voters, which it is, then taxes are part of that.
You hear both candidates talking about it.
Both are pretty well convinced that they have the upper hand.
Harris wants you to extend a lot of the tax cuts that the Republican Congress put in place.
When she ran in 2019 for president, she proposed repealing all of those tax cuts that had just been enacted.
And now she's kind of shifted her position.
Someone said, OK, we'll keep the ones for people making under $400,000 a year.
Those are what the Biden administration's plan has been.
And then let them lapse above that.
And then she's got two other pieces.
One is to raise about $5 trillion in taxes over a decade that, you know, anything from
raising the corporate tax rate to raising the capital gains tax rate to a whole suite of taxes on high-income people.
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