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Kamala Harris’s Tax Plan: What Investors Need to Know

by Team Lumida
August 27, 2024
in Macro
Reading Time: 3 mins read
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Kamala Harris’s Tax Plan: What Investors Need to Know

"Kamala Harris" by Gage Skidmore is licensed under CC BY-SA 2.0

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Key Takeaways:

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  1. Harris proposes increased taxes for high earners and corporations.
  2. Tax cuts aim to benefit middle-class families and small businesses.
  3. Potential market shifts as investors adjust to new tax policies.

What Happened?

Kamala Harris unveiled a comprehensive tax plan targeting both increases and cuts. High earners and corporations will face higher taxes, with individual rates rising for those making over $400,000 annually and corporate tax rates increasing to 28%.

Simultaneously, Harris proposes tax cuts aimed at middle-class families and small businesses, offering significant relief and incentives. These changes reflect a strategic shift in fiscal policy, aimed at balancing economic growth with fairer wealth distribution.

Why It Matters?

For investors, understanding these tax changes is crucial. Higher taxes on high earners and corporations could reduce disposable income and corporate profits, potentially impacting stock prices and dividends.

Conversely, tax cuts for middle-class families and small businesses might boost consumer spending and small business growth, driving economic activity. This dual approach aims to stimulate the economy while addressing income inequality.

What’s Next?

Investors should monitor how these tax changes might alter market dynamics. High-income individuals and corporations may seek tax-efficient investment strategies, potentially increasing demand for tax-advantaged assets.

Small businesses could see a surge in growth and hiring, influencing sectors like retail and consumer goods. Keep an eye on legislative progress and market reactions as these policies take shape. Adapting to these changes could present both challenges and opportunities for your investment portfolio.

Source: Wall Street Journal
Tags: Tax
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018