Trump vs. Harris: What Could Have Been – Who Wins, Who Pays, and Who Gets Screwed?
Trump’s Tax Cuts: A Giveaway to the Rich, a Trap for Everyone Else
Donald Trump’s 2017 Tax Cuts and Jobs Act (TCJA) was hyped as a breakthrough for working Americans, but in reality, it served as a massive cash funnel to the wealthiest individuals and corporations. The middle class got a mirage of relief—small, temporary cuts that pale in comparison to the permanent tax slashes handed to billionaires and corporate giants.
- Corporate tax rate slashed from 35% to 21% – A permanent giveaway to big business, with zero requirement to reinvest in workers.
- Top individual tax bracket lowered from 39.6% to 37% – A modest gift for the ultra-rich, amounting to hundreds of thousands in savings per millionaire.
- Middle-class tax cuts? A rounding error.
- If you earned $50,000 a year, your tax cut was around $800 (1.6%)—not even enough to keep pace with rising rents and inflation.
- If you earned $75,000, your cut maxed out at $1,300 (1.7%)—a drop in the bucket compared to the cost of rent increases and inflation.
- Meanwhile, billionaires saw effective tax cuts of up to 14%.
- The expiration con: By 2025, your tax cuts vanish, while corporate tax cuts remain permanent.
What actually happened? Stock buybacks skyrocketed to a record-breaking $560 billion in 2018, enriching executives and Wall Street investors while everyday workers saw little to no improvement in their wages. Even worse, these tax cuts ballooned the national deficit by $1.5 trillion, laying the groundwork for the same politicians to later call for cuts to Social Security, Medicare, and other vital services. on Social Security, Medicare, and Medicaid.
What Could Have Been: Harris’ Plan for the Working Class
Kamala Harris’ tax policy was designed to reverse the billionaire bonanza and redirect tax relief to working Americans. Instead of deepening wealth inequality, her approach would have delivered real financial relief to families while making corporations and the ultra-rich pay their fair share. Kamala Harris’ tax policy was designed to reverse the billionaire bonanza and redirect tax relief to working Americans. Instead of deepening wealth inequality, her approach would have delivered real financial relief to families while making corporations and the ultra-rich pay their fair share.
- LIFT Act: A $6,000 annual tax credit for working families ($3,000 for single filers), meaning actual, meaningful relief.
- Expanded Child Tax Credit: Increased payments and full refundability, lifting millions of families out of poverty.
- Eliminating taxes on tipping income: Service industry workers would have kept more of what they earned.
- Reversing Trump’s corporate tax breaks: Raising the corporate tax rate to 28%, ensuring companies actually contributed to the economy instead of hoarding profits.
- Higher taxes on the top 1% – Closing loopholes, taxing Wall Street speculation, and ensuring billionaires actually pay into the system.
- $50,000 Small Business Startup Deduction: Harris proposed increasing the small business startup deduction from $5,000 to $50,000, making it easier for entrepreneurs to launch and sustain businesses without excessive tax burdens.
- $50,000 Homeowner Down Payment Assistance: Aimed at first-time homebuyers, particularly in historically disadvantaged communities, this initiative would have provided up to $50,000 in down payment assistance, helping millions achieve homeownership.
Harris’ plan wouldn’t just have talked about helping the middle class—it would have fundamentally shifted economic policy to prioritize workers, small businesses, and homeowners over Wall Street.
The Reality Check: Who Won and Who Paid?
| Policy | Trump’s Reality | Harris’ Alternative |
|---|---|---|
| Corporate Taxes | 21%, fueling CEO bonuses and stock buybacks | 28%, funding public programs and infrastructure |
| Top 1% Tax Rate | Cut to 37%, massive windfall for the ultra-rich | Increased, closing billionaire loopholes |
| Middle-Class Relief | Temporary, vanishing by 2025 | Permanent, with direct cash relief |
| Child Tax Credit | Modest increase, limited impact | Fully refundable, lifting millions from poverty |
| Service Worker Income Tax | Still taxed on tips | Eliminated federal tax on tips |
| Deficit Impact | Increased by $1.5 trillion | Balanced by taxing the ultra-rich |
The Cost of Trump’s Victory: A Rigged Economy Cemented in Place
Trump’s tax plan wasn’t just a con job—it was a structured transfer of wealth upward, ensuring the top 1% benefited while leaving the rest of America to foot the bill. With his win, those policies have become the status quo.
Had Harris won, millions of American families would have received tangible tax relief, wage stagnation could have been addressed, and the national deficit wouldn’t be a runaway train heading toward cuts in vital services.
The Verdict: The Rich Won, The Middle Class Paid, and We’re Still Holding the Bag
- Trump’s America: Billionaires win. Corporations hoard wealth. Middle-class relief is temporary. The national debt soars.
- Harris’ America (What Could Have Been): Working families win. Small businesses thrive. The tax burden is shared fairly, funding healthcare, education, and infrastructure.
The contrast isn’t theoretical—it’s etched in tax codes and economic policy. The question remains: how much longer will working Americans keep footing the bill for billionaire handouts?
