Does Kamala Harris Want to Hike Taxes by $4 Trillion?

Democratic vice presidential candidate Kamala Harris and vice president Mike Pence clashed over tax in their debate, with President Donald Trump promoting Facebook ads stating she wants to "hike taxes by $4 trillion."

During her run to be the Democratic presidential candidate Harris backed raising taxes on the top one percent of earners and also upping corporation tax and Joe Biden, who won that race, supports similar moves.

His plans aim to make "corporations and the wealthiest Americans" pay "their fair share" in taxes, according to proposals outlined on his website.

Biden states he would not "ask a single person making under $400,000 per year to pay a penny more in taxes" under his plans, a point Harris highlighted when quizzed over taxation by Pence.

He would instead look at measures such as raising the top individual income rate back to 39.6 percent and to ask those making more than $1 million to pay the same rate of tax on investment income as they do on wages.

The Biden campaign has rejected the suggestion that taxes would be raised for "ordinary Americans."

"While Trump and his allies have sought to mislead, deceive, and flat-out lie by suggesting Biden will raise taxes on ordinary Americans, fact-checkers have called this desperate line of attack what it is — false," a statement on his campaign site reads.

However, a Biden/Pence victory would would see an to end some of Trump's tax cuts.

Though there may be a dispute over who faces the brunt of tax rises, it is still assessed that tax revenue would go up under a Biden administration.

According to Tax Policy Center analysis, federal revenues on tax would increase by $4 trillion over the next decade under Biden's proposals.

harris
Democratic vice presidential nominee and Senator from California, Kamala Harris gestures as she speaks during the vice presidential debate in Kingsbury Hall at the University of Utah on October 7, in Salt Lake City, Utah. Robyn Beck/AFP via Getty Images

The Tax Foundation's analysis suggests Biden's plans would raise tax revenue by $3.05 trillion over the next decade "on a conventional basis." Its estimate was reduced from previous analysis, to account for the economic downturn following the coronavirus crisis and other tax credit proposals introduced by the Biden campaign.

Harris was asked during the debate about "raising four trillion dollars in taxes on wealthy individuals and corporations." Harris did not dispute the figure in her response.

In the debate, she said Biden and President Donald Trump differed in how they perceive the strength of the economy.

"Joe Biden believes you measure the health and the strength of America's economy based on the health and the strength of the American worker and the American family. On the other hand, you have Donald Trump who measures the strength of the economy based on how rich people are doing," she said.

Analysis would suggest that under a Biden/Harris administration, tax revenue would increase—with the suggestion this could be by up to $4 trillion over a decade.

However, the number of people the proposed increases could impact is disputed while the figure could also fluctuate based on the changing economy.

Newsweek has contacted Harris as well as the Biden and Trump campaigns for comment.

The below graphic from Statista, shows the results of a CNN/SSRS poll following the debate, in which most respondents said Harris won over Pence.

vp debate poll
Statista