Source: Town Hall
by Stephen Moore
“Here is something no one in the media is reporting as Vice President Kamala Harris continues to duck and weave like Muhammad Ali in the ring to avoid any questions about her economic plan. The American Business Defense Foundation reports that under the Harris tax plan, the number of Americans subject to the hated death tax would double or triple. This would happen because Harris has declared she will let the Trump tax cut expire next year if she becomes president. Thanks to the Trump tax cut, the amount of an estate that is currently exempt from tax is roughly $13.6 million. But according to the IRS: ‘Under the tax reform law, the increase is only temporary. Thus, in 2026, the exemption is due to revert to its pre-2018 level of $5 million, as adjusted for inflation.'” (10/15/24)