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Kamala Harris on Corporations

Democratic candidate for President (withdrawn); California Senator

 


Reverse the 2017 corporate income tax cut

Kamala Harris on Corporate Income Taxes: Reverse the 2017 corporate cut.

TWO CANDIDATES HAVE SIMILAR VIEWS: Kirsten Gillibrand; Marianne Williamson.

Some candidates, such as Sens. Kirsten Gillibrand and author Marianne Williamson, say they want to ge

Source: Politico "2020Dems on the Issues" , Jul 17, 2019

New tax on banks with over $50 billion in assets

Kamala Harris on Wall Street Taxes: Impose higher taxes on financial institutions.

No candidates have similar views. Sen. Kamala Harris would impose a new tax on banks with over $50 billion in assets.

Source: Politico "2020Dems on the Issues" , Jul 17, 2019

Why haven't we asked how to pay for tax cuts to the top 1%?

Q: Do you think that Democrats have a responsibility to explain how they will pay for every proposal?

Harris: I hear that question, but where was that question when the Republicans and Donald Trump passed a tax bill that benefits the top 1 percent and the biggest corporations in this country? Contributing at least $1 trillion to the debt of America, which middle-class families will pay for one way or another. I am proposing that we change the tax code, so for every family that is making less than $100,000 a year, they will receive a tax credit that they can collect up to $500 a month. And on day one, I will repeal that tax bill that benefits the top 1% and the biggest corporations.

Source: June Democratic Primary debate (second night in Miami) , Jun 27, 2019

Facebook is like a utility; needs to be regulated

Q: Your opinion on Facebook and social media?

A: I think that Facebook has experienced massive growth and has prioritized its growth over the best interests of its consumers, especially on the issue of privacy. There is no question that there needs to be serious regulation, and that that has not been happening. There needs to be more oversight.

Q: Do you think they should be broken up?

A: Yes, I think we have to seriously take a look at that. They're essentially a utility. There are very few people that can actually get by without somehow, somewhere using Facebook. We have to recognize it for what it is. It is essentially a utility that has gone unregulated. As far as I'm concerned, that's got to stop.

Source: CNN SOTU 2019 interview of presidential hopefuls , May 12, 2019

New fees on banks and financial institutions

Source: PBS News hour on 2020 Presidential hopefuls , Jan 21, 2019

Tough stance on mortgage lenders fell short

In September 2011, Harris pulled California out of nationwide mortgage settlement talks with the five biggest mortgage servicers. The deal Harris got for California was ultimately much better. It provided $18.4 billion in debt relief and $2 billion in other financial assistance, as well as incentives for relief to center on the hardest hit counties. The banks had originally only offered California, the state hardest hit by the housing crisis and fraud, $2-4 billion.

Nonetheless, the settlement was woefully inadequate. In terms of direct financial relief, underwater homeowners--weighed down by average debt of close to $65,000 each--received around $1,500 to $2,000 each. just 84,102 California families had any mortgage debt forgiven--far short of the 250,000 originally predicted.

Source: Jacobin Magazine on 2018 California Senate race , Aug 10, 2017

Same rules must apply to everyone, including the wealthy

Millions of Americans know that feeling of walking through the front door of their own home for the first time--the feeling of reaching for opportunity and finding it. That's the choice in this election. It's a choice between an America where opportunity is open to everyone, where everyone plays by the same set of rules, or a philosophy that tilts the playing field to help the wealthiest few. A choice between holding Wall Street accountable or letting it write its own rules.
Source: Speech at 2012 Democratic National Convention , Sep 5, 2012

Deregulating banks encourages discriminatory practices.

Harris voted NAY Banking Bill

Congressional Summary:

Supporting press release from Rep. Tom Emmer (R-MN-6): This legislation will foster economic growth by providing relief to Main Street, tailor regulations for better efficacy, and most importantly it will empower individual Americans and give them more opportunity.

Opposing statement on ProPublica.org from Rep. Gregory Meeks (D-NY-5): The bill includes many provisions I support: minority-owned banks and credit unions in underserved communities have legitimate regulatory burden concerns. Unfortunately, exempting mortgage disclosures enacted to detect discriminatory practices will only assist the Trump Administration in its overall effort to curtail important civil rights regulations. I simply cannot vote for any proposal that would help this Administration chip away at laws that I and my colleagues worked so hard to enact and preserve.

Legislative outcome: Passed House 258-159-10 on May 22, 2018(Roll call 216); Passed Senate 67-31-2 on March 14, 2018(Roll call 54); Signed by President Trump. May 24, 2018

Source: Congressional vote 16-S2155 on Mar 14, 2018

Reducing tax rates balloons federal deficit & cuts programs.

Harris voted NAY Tax Cuts and Jobs Act

Summary by GovTrack.US: (Nov 16, 2017)

Case for voting YES by Heritage Foundation (12/19/17):This is the most sweeping update to the US tax code in more than 30 years. The bill would lower taxes on businesses and individuals and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy. The bill includes many pro-growth features, including a deep reduction in the corporate tax rate, a scaled-back state and local tax deduction, full expensing for five years, and lower individual tax rates.

Case for voting NO by Sierra Club (11/16/17): Republicans have passed a deeply regressive tax plan that will result in painful cuts to core domestic programs, to give billionaires and corporate polluters tax cuts while making American families pay the price. Among the worst provisions:

  • This plan balloons the federal deficit by over $1.5 trillion. Cutting taxes for the rich now means cuts to the federal budget and entitlements later.
  • The bill hampers the booming clean energy economy by ending tax credits for the purchase of electric vehicles and for wind and solar energy.
  • The bill opens up the Arctic Refuge to drilling, a thinly veiled giveaway to the fossil fuel industry.

    Legislative outcome: Passed House, 224-201-7, roll call #699 on 12/20; passed Senate 51-48-1, roll call #323 on 12/20; signed by Pres. Trump on 12/22.

    Source: Congressional vote 17-HR1 on Nov 16, 2017

    Other candidates on Corporations: Kamala Harris on other issues:
    2020 Presidential Candidates:
    Pres.Donald Trump (R-NY)
    V.P.Mike Pence (R-IN)
    V.P.Joe Biden (D-DE)
    Sen.Kamala Harris (D-CA)
    CEO Don Blankenship (Constitution-WV)
    CEO Rocky De La Fuente (R-CA)
    Howie Hawkins (Green-NY)
    Jo Jorgensen (Libertarian-IL)
    Gloria La Riva (Socialist-CA)
    Kanye West (Birthday-CA)

    2020 GOP and Independent primary candidates:
    Rep.Justin Amash (Libertarian-MI)
    Gov.Lincoln Chafee (Libertarian-RI)
    Gov.Larry Hogan (R-MD)
    Zoltan Istvan (Libertarian-CA)
    Gov.John Kasich (R-OH)
    Gov.Mark Sanford (R-SC)
    Ian Schlackman (Green-MD)
    CEO Howard Schultz (Independent-WA)
    Gov.Jesse Ventura (Green-MN)
    V.C.Arvin Vohra (Libertarian-MD)
    Rep.Joe Walsh (R-IL)
    Gov.Bill Weld (Libertarian-NY,R-MA)

    2020 Democratic Veepstakes Candidates:
    State Rep.Stacey Abrams (D-GA)
    Mayor Keisha Lance Bottoms (D-GA)
    Rep.Val Demings (D-FL)
    Sen.Amy Klobuchar (D-MN)
    Sen.Kirsten Gillibrand (D-NY)
    Sen.Maggie Hassan (D-NH)
    Gov.Michelle Lujan-Grisham (D-NM)
    Sen.Catherine Masto (D-NV)
    Gov.Gina Raimondo (D-RI)
    Amb.Susan Rice (D-ME)
    Sen.Jeanne Shaheen (D-NH)
    Sen.Elizabeth Warren (D-MA)
    Gov.Gretchen Whitmer (D-MI)
    A.G.Sally Yates (D-GA)
    Abortion
    Budget/Economy
    Civil Rights
    Corporations
    Crime
    Drugs
    Education
    Energy/Oil
    Environment
    Families/Children
    Foreign Policy
    Free Trade
    Govt. Reform
    Gun Control
    Health Care
    Homeland Security
    Immigration
    Infrastructure/Technology
    Jobs
    Principles/Values
    Social Security
    Tax Reform
    War/Iraq/Mideast
    Welfare/Poverty

    External Links about Kamala Harris:
    Wikipedia
    Ballotpedia

    2020 Withdrawn Democratic Candidates:
    Sen.Michael Bennet (D-CO)
    Mayor Mike Bloomberg (I-NYC)
    Sen.Cory Booker (D-NJ)
    Gov.Steve Bullock (D-MT)
    Mayor Pete Buttigieg (D-IN)
    Secy.Julian Castro (D-TX)
    Mayor Bill de Blasio (D-NYC)
    Rep.John Delaney (D-MD)
    Rep.Tulsi Gabbard (D-HI)
    Sen.Mike Gravel (D-AK)
    Gov.John Hickenlooper (D-CO)
    Gov.Jay Inslee (D-WA)
    Mayor Wayne Messam (D-FL)
    Rep.Seth Moulton (D-MA)
    Rep.Beto O`Rourke (D-TX)
    Gov.Deval Patrick (D-MA)
    Rep.Tim Ryan (D-CA)
    Sen.Bernie Sanders (I-VT)
    Adm.Joe Sestak (D-PA)
    CEO Tom Steyer (D-CA)
    Rep.Eric Swalwell (D-CA)
    Marianne Williamson (D-CA)
    CEO Andrew Yang (D-NY)
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    Page last updated: Oct 31, 2020