An article ap-peared in the Octo-ber 8th issue of the Wall Street Jour-nal, titled, “Kama-la Harris Is Eyeing Your 401(k).”  Of course, what goes for 401(k)s goes for IRAs as well.

Kamala Attacks Profits

Kamala wants to increase the corporate tax rate to a level that would cost a company one third of its profits.  

Profits, of course, are the source for a company’s growth, as well as the increase of its stock prices – the stock you own.

Kamala would reduce that amount to two-thirds of what it should be.

Kamala Attacks Your 401(k) and IRA Growth

Kamala will slash the growth of your 401(k) and IRA account, through the taxes that will decrease profits.

Kamala Attacks Your Capital Gains

If you buy stocks using after-tax money, any stocks you hold for more than one year are taxed as “capital gains”, rather than income.

The tax rate for capital gains is lower than for income, but Kamala would set the capital gains tax rate higher.

Kamala Wants Your Money

Kamala’s plan hobbles the growth of businesses, and then would tax the income you get from a company’s growth.  That is, in effect, double taxation.  As the article puts it, “This is the government taking a second bite out of the corporate apple before the rest of the country has even taken its first.”

Kamala the Socialist

The article goes on to say, “the government would snatch up at least 50% of nearly every corporation in America under the Harris tax scheme.” That is the action of a Socialist.

Kamala Harris – Making Americans Poorer

The article notes that 70 million Americans have 401(k) investments. Add to that the millions more who have IRAs, after-tax invest-ments, etc., and other stock-ownership plans:  all those peo-ple will be poorer, so that Kamala Harris will have more spending money. 

“The Pursuit of Happiness”

America’s Found-ing Fathers fought for a nation dedicated to “Life, Liberty, and the Pursuit of Happiness” – the right to your own life, your freedom to act as you choose, and your right to enjoy the fruits of your efforts.

Kamal Harris does not agree.  Socialism is opposed to Life, Liberty, and the Pur-suit of Happiness.

November 5th – You Decide

Is being poorer your goal?  Tuesday, November 5th, is Election Day.  Your choice is continued economic growth, or economic decline.

Do you want to experience a con-tinued improvement in the lives of you and your family, or do you prefer to watch it decline?

It is not always obvious which candidate will be in favor of continued improvement of your well-being and which has policies that will work against you.

But for the 2024 Presidential Election, the stand each candidate is taking is very clear:  one for, one against.  

Your 2024 vote for President will have clear consequences.