Anyone who thinks Ronald Reagan remains irrelevant four decades after his last election victory hasn’t read Kamala Harris’ economic proposals. Reagan’s classic quote demonstrates how well he knew the leftist mindset:
Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.
This describes the Harris plan in a nutshell: more spending, funded by higher taxes, coupled with heavy doses of regulation. Rather than reducing inflation, her policy proposals could well cause a new round of price spikes for struggling American families.
Massive Spending
Upon reviewing the proposals the Harris campaign issued in a press release late last week, the Center for a Responsible Federal Budget (CRFB) estimated they could spend $2 trillion in the coming decade and more if all were made permanent (as Democrats will certainly want to do). Among the proposals:
$1.1 trillion to reinstitute the Biden “stimulus” system of child subsidy payments, a stopping point on the way to a universal basic income (which Harris has also supported); $100 billion to further expand the child subsidy to $6,000 for newborns; $400 billion to extend the Obamacare premium subsidies that have encouraged fraud and give tax breaks to wealthy individuals; $150 billion to expand the earned income tax credit to workers without dependents; $100 billion for a $25,000 first-time homebuyer credit for four years; and Another $100 billion for “affordable housing policies” for
