Trump is displeased with Kamala Harris’s effort to establish herself apart from Biden on the economy

US: Kamala Harris turned her focus to the future at the Throwback Brewery, further distancing herself from Bidenomics in her attempt to challenge an incumbent government that is running Donald Trump ragged.
The vice president made a trip in New Hampshire on Wednesday, which is home to four crucial electoral votes, before leaving for Pittsburgh to attend debate practice in advance of her televised matchup with the former president the following week, which may determine the outcome of the election.

In part, Harris’s political momentum and prospects in November depend on her ability to remove any perception that she is advocating for the unpopular president Joe Biden’s second term and present herself as a new choice for voters.

This serves as the foundation for her appeal to suburban moderates and middle-class voters in swing states, as well as her attempts to attract Americans who are enraged about rising food costs and inflation and feel shut out of the housing market.

The vice president had already promised to stop grocery corporations from raising prices, and he had also promised to provide low-income first-time homeowners with a $25,000 down payment. She made a centrist political move on Wednesday, pledging to support 25 million new small companies during her first term and provide a $50,000 tax break for entrepreneurs. Additionally, in order to encourage investment and innovation, she advocated for a far smaller increase in capital gains taxes than what Biden suggested.

Speaking at a brewery started by two female entrepreneurs that use local products, Harris said, “I think America’s small businesses are an essential foundation to our entire economy.” Half of all private sector workers in our nation are employed by small enterprises. The majority of workers in the private sector are either small company owners, managers, or employees.

When Harris speaks to the New York Economic Club on Thursday, the former president—who has been fanning sentiments of nostalgia for the Trump economy before to the catastrophe sparked by the Covid-19 emergency—may try to address his recent economic antics.

attempting to get away from Biden

It is evident how Harris’s plan is motivated politically. Regarding the capital gains tax bill, for example, Harris rejected Biden’s more liberal attitude and advocated for a 28% rate on those making $1 million or more, as opposed to the 39.6% rate that the president had put in his budget for the fiscal year 2025. She refutes Trump’s assertion that she is the heiress of a failing economic heritage with this gesture, demonstrating that she is not a captive to her boss’s ideas. The plan could also be noted by wealthy Democratic donors who have contributed to her campaign with half a billion dollars in investment income.

In addition, Harris’s adoption of the potent narrative that American small companies propel global wealth and the economy seems to be aimed at thwarting efforts by Trump and his cronies to disparage the California Democrat as a “Bolshevik,” a “communist,” and an extreme “San Francisco liberal.”

Economists are now discussing whether “Harrisomics” is feasible as a result of her novel ideas. Would her government prohibition on price gouging only cause historical shortages of goods? And will flooding the market with additional cash just serve to drive up prices and make houses even more unaffordable?

The first few weeks of a prospective Harris administration might be problematic due to these issues. However, with the election less than nine weeks away, Harris is more focused on making a strong political statement than the details of economic policy. Considering Trump’s lead in the economic polls, it would probably be foolish to engage in a policy debate with her opponent in-depth. Harris must turn the race into a contest centered on personality and the ability of a contender to present themselves as a new political force. Therefore, even little moves out from Biden’s shadow might have significance.

For example, Harris has gone above and beyond what Biden has done to demonstrate her empathy for young folks excluded from the property market and consumers who fear the expense of their monthly grocery buy. The president would often angrily defend the economy’s achievements and minimize the hardships still present throughout his campaign.

Why Harris may have to distance herself from Biden

A possible plan for Harris was outlined by James Carville in a New York Times essay on Monday. “Who is fresh and who is rotten” will determine the outcome of the 2024 election, he said. The seasoned Democratic strategist said that Harris’s decision to follow her own path was essential to her political identity and would not be seen as a slight on Biden. He referenced the catchphrase that helped former President Bill Clinton defeat President George H.W. Bush in 1992 as a change candidate, writing, “It shows even more sharply that she is passionate about her own ideas and represents change rather than more of the same.”

Trump is enraged by Harris’s efforts to persuade Americans that she is a fresh air. The former president is irate that Harris is receiving a new perspective after four years in the Biden administration and that he has lost his position as the race’s change agent. This is evident in both his remarks and campaign slogans.

In an appearance with the Hugh Hewitt radio program on Wednesday, Republican vice presidential candidate JD Vance expressed disbelief that Harris could do this turnabout. The Ohio senator emphasized that Harris was an incumbent in an attempt to undermine her image makeover. You hold the office of vice president in the United States. You have the opportunity to pursue these ideas right now, but you’re not,” Vance said. “With her policies, she created this inflation crisis, and now she wants to wave her magic wand to fix it.”

While acknowledging that not all American corporations were “angel” organizations, Vance also opposed the vice president’s proposal to cut supermarket costs.

Price restrictions have existed in our nation and other places in the past. Every time that occurs, it fails,” Vance said. It indicates that you can’t purchase flour. Eggs are not available in the grocery shop. That is the effect of price regulations.

Through a stinging ad campaign, the Trump team is also attempting to undermine Harris’ economic stance.
A recent Georgian advertisement pieced together news footage featuring negative stories about the state of the economy. “The alarming spike in inflation soaring to its highest level in nearly 40 years,” said a television anchor.

“We’re still dealing with inflation,” adds another. The campaign plays a recording of Harris applauding “Bidenomics” and gleefully declaring in speeches that “Bidenomics is working” in between these segments.
The Trump campaign disregarded the Harris small business proposal on Wednesday, claiming that among other things, she would fight for increased inheritance taxes and higher income taxes, which would harm consumers and small businesses. The former president had earlier objected to the vice president’s acceptance of his own idea to eliminate tip taxes, which was particularly seen as a ploy to benefit hotel employees in Nevada, a swing state.

Trump has been announcing that a Great Depression will occur in the economy if Harris wins in November. He predicted much the same thing about Biden in 2020, but despite the inflation issue that his White House originally misjudged, the president has overseen robust, steady growth in employment and one of the best recoveries from the epidemic of any industrialized economy.

Trump’s policies are often just as hazy as those of his opponent, a Democrat. Trump made big promises to the American people while serving as president, but he never explained how he would finance or implement them. He said something like this on Fox News on Sunday: “We’re not going to do anything to hurt our seniors; we’re going to take care of Social Security.” In this regime, there is an abundance of waste and cutting. This administration is very obese.

Meanwhile, a number of analysts have cautioned that Trump’s proposal to significantly increase import taxes, particularly on goods from China, may result in sharp increases in consumer prices and a fresh round of inflation.
However, at this crucial juncture in a tense, tight race, Trump and Harris seem more interested in immediate political gains than in implementing economic measures that have been shown to be effective.