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2024 United States presidential election: Difference between revisions

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I knew that I was going to screw this (the Stein numbers) up, sorry-→Results by state: .
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Voters consistently cited the economy as their top issue in the 2024 election.<ref name="pew">{{cite news |date=September 9, 2024 |title=Issues and the 2024 election |url=https://www.pewresearch.org/politics/2024/09/09/issues-and-the-2024-election/ |publisher=[[Pew Research Center]]}}</ref> Following the COVID-19 pandemic, [[2021–2023 inflation surge|a global surge in inflation]] ensued that raised prices on many goods, although the U.S. inflation rate had declined significantly during 2023 and 2024.<ref>{{Cite news |last=Goldmacher |first=Shane |date=October 17, 2022 |title=Republicans Gain Edge as Voters Worry About Economy, Times/Siena Poll Finds |work=[[The New York Times]] |url=https://www.nytimes.com/2022/10/17/us/politics/republicans-economy-nyt-siena-poll.html |access-date=October 21, 2022|archive-date=October 20, 2022|archive-url=https://web.archive.org/web/20221020235453/https://www.nytimes.com/2022/10/17/us/politics/republicans-economy-nyt-siena-poll.html |url-status=live}}</ref><ref>{{Cite web |last=Montanaro |first=Domenico |date=March 29, 2023 |title=Poll: Dangers for both parties on the economy, crime and transgender rights |url=https://www.npr.org/2023/03/29/1166486046/poll-economy-inflation-transgender-rights-republicans-democrats-biden |access-date=May 10, 2023 |publisher=[[NPR]] |archive-date=March 29, 2023 |archive-url=https://web.archive.org/web/20230329090442/https://www.npr.org/2023/03/29/1166486046/poll-economy-inflation-transgender-rights-republicans-democrats-biden |url-status=live}}</ref><ref>{{Cite web |url=https://www.newsweek.com/election-2024-poll-how-voters-feel-about-key-issues-1813658 |title=Election 2024 poll: How voters feel about key issues |first=Darragh |last=Roche |date=July 19, 2023 |website=Newsweek|access-date=January 26, 2024|archive-date=January 26, 2024|archive-url=https://web.archive.org/web/20240126202104/https://www.newsweek.com/election-2024-poll-how-voters-feel-about-key-issues-1813658|url-status=live}}</ref> ''The New York Times'' reported that both candidates "embraced a vision of a powerful federal government, using its muscle to intervene in markets in pursuit of a stronger and more prosperous economy".<ref name="The New York Times-2024-8" /> ''[[The Wall Street Journal]]'' reported that economists found Trump's proposed policies created a greater risk of stoking inflation and generating higher budget deficits, relative to the Harris plan.<ref>{{cite news |last1=Timiraos |first1=Nick |title=Economists Warn of New Inflation Hazards After Election |url=https://www.wsj.com/economy/trump-harris-election-inflation-0797554a?mod=hp_lead_pos1 |work=The Wall Street Journal |date=October 28, 2024}}</ref> Twenty-three Nobel Prize-winning economists signed a letter characterizing the Harris economic plan as "vastly superior" to the Trump plan.<ref>{{cite news |last1=Mattingly |first1=Phil |title=23 Nobel Prize-winning economists call Harris' economic plan 'vastly superior' to Trump's |url=https://edition.cnn.com/2024/10/23/politics/nobel-prize-economists-harris-economic-plan/index.html |publisher=CNN |date=October 23, 2024}}</ref> Trump's designated government efficiency leader [[Elon Musk]] said in October that he expected Trump's plan would involve more than $2&nbsp;trillion in federal spending cuts and would cause "some temporary hardship."<ref>{{cite news |last1=Romm |first1=Tony |title=Musk's plan to cut $2 trillion in U.S. spending could bring economic turmoil |url=https://www.washingtonpost.com/business/2024/10/29/elon-musk-2-trillion-budget-cuts-trump-election/ |newspaper=The Washington Post |date=October 29, 2024}}</ref><ref>{{cite news |last1=Rappeport |first1=Alan |last2=Schleifer |first2=Theodore |title=Elon Musk Sees Trump's Economic Plans Causing 'Temporary Hardship' |url=https://www.nytimes.com/2024/10/29/us/politics/elon-musk-trump-economy-hardship.html |work=The New York Times |date=October 29, 2024}}</ref> Harris ran on a pro-union platform.<ref>{{cite news |last=Cancryn |first=Adam |title=Harris' blue-collar pitch: New candidate, same pro-labor policies |work=Politico |url=https://www.politico.com/news/2024/08/07/harris-blue-collar-labor-detroit-00173066 |date=August 7, 2024 |access-date=August 8, 2024 |archive-date=August 8, 2024 |archive-url=https://web.archive.org/web/20240808175114/https://www.politico.com/web/20240808175114/https://www.politico.com/news/2024/08/07/harris-blue-collar-labor-detroit-00173066 |url-status=live}}</ref> She promoted the passage of the [[Infrastructure Investment and Jobs Act]], funding for small business, and previously supported an act as senator to provide a $6,000 tax credit for middle and low-income families.<ref name="The New York Times-2024-3" /> Harris promised to address [[price gouging]], bring down costs, ban hidden fees and late charges from financial institutions, limit "unfair" rent increases and cap prescription drug costs, which she said would "lower costs and save many middle-class families thousands of dollars a year".<ref>{{cite news |last1=Messerly |first1=Megan |last2=Cancryn |first2=Adam |last3=Schneider |first3=Elena |title=Everything was going Kamala Harris' way. Then came the market sell-off. |work=Politico |url=https://www.politico.com/news/2024/08/06/market-sell-off-democrats-harris-00172740 |date=August 6, 2024 |access-date=August 6, 2024 |archive-date=August 6, 2024 |archive-url=https://web.archive.org/web/20240806202050/https://www.politico.com/news/2024/08/06/market-sell-off-democrats-harris-00172740 |url-status=live}}</ref>
 
''The New York Times'' described Harris' economic policy as embracing "the idea that the federal government must act aggressively to foster competition and correct distortions in private markets". Harris proposed raising taxes on corporations and high-earners to fund services for the lower and middle classes and reduce the deficit.<ref name="The New York Times-2024-8" /> Harris stated she supports increasing the top tier capital gains tax rate to 28%, up from 20% and lower than Biden's proposed 39.6%. Harris stated her support for a Billionaire Minimum Income Tax, increasing the tax on stock buybacks to 4%, and a ten-fold tax reduction for small business ranging from $5,000 to $50,000 in relief.<ref>{{cite news |last1=Tausche |first1=Kayla |last2=Luhby |first2=Tami |last3=Williams |first3=Michael |title=Harris breaks with Biden on capital gains tax, proposing a smaller increase |work=CNN |url=https://www.cnn.com/2024/09/04/politics/kamala-harris-capital-gains-tax/index.html |archive-url=https://web.archive.org/web/20240904211922/https://www.cnn.com/2024/09/04/politics/kamala-harris-capital-gains-tax/index.html|archive-date=September 4, 2024|url-status=live}}</ref> Harris also supported efforts to create a tax on unrealized gains for those with more than a $100&nbsp;million in net worth if they do not pay a minimum 25% tax rate on their income inclusive of unrealized gains so long as 80% of said wealth is in tradeable assets. The plan would impact a small percentage of the wealthy in the United States, and ''[[Axios (website)|Axios]]'' reported most tech founders and investors would be spared.<ref>{{cite news |last=Primack |first=Dan |title=The reality of Kamala Harris' plan to tax unrealized capital gains |work=Axios |url=https://www.axios.com/2024/08/23/kamala-harris-unrealized-capital-gains-tax |date=August 23, 2024 |access-date=August 23, 2024 |archive-date=August 29, 2024 |archive-url=https://web.archive.org/web/20240829214737/https://www.axios.com/2024/08/23/kamala-harris-unrealized-capital-gains-tax |url-status=live}}</ref> Harris also announced support for restoring the corporate tax rate to 28% among several other tax proposals to raise taxes and close loopholes for corporations and the wealthy that would bring in $5&nbsp;trillion in additional revenue over 10 years.<ref>{{cite news |last1=Duehren |first1=Andrew |title=What We Know About Kamala Harris's $5 Trillion Tax Plan So Far |url=https://www.nytimes.com/2024/08/22/us/politics/kamala-harris-tax-plan.html |work=The New York Times |date=August 22, 2024 |archive-date=August 23, 2024|archive-url= https://web.archive.org/web/20240823164100/https://www.nytimes.com/2024/08/22/us/politics/kamala-harris-tax-plan.html |url-status=live}}</ref> Harris proposed tax breaks to companies delivering economic benefit, such as manufacturing technologies that [[mitigate climate change]] and building [[affordable housing]], and proposed a ban on corporate price gouging to "help the food industry become more competitive".<ref name="The New York Times-2024-8">{{Cite news |last=Tankersley |first=Jim |date=August 16, 2024 |title=Harris and Trump Offer a Clear Contrast on the Economy |url=https://www.nytimes.com/2024/08/16/business/economy/harris-trump-economy-inflation.html |url-status=live |archive-url=https://web.archive.org/web/20240817002443/https://www.nytimes.com/2024/08/16/business/economy/harris-trump-economy-inflation.html |archive-date=August 17, 2024 |access-date=August 16, 2024 |work=The New York Times}}</ref> Harris also expressed support for student debt relief,<ref name="CNN-2024-2">{{Cite news |last=Luhby |first=Tami |date=July 28, 2024 |title=Harris and Trump want to strengthen the middle class. It could use the help |url=https://www.cnn.com/2024/07/28/politics/kamala-harris-trump-middle-class/index.html |url-status=live |archive-url=https://web.archive.org/web/20240730172716/https://www.cnn.com/2024/07/28/politics/kamala-harris-trump-middle-class/index.html |archive-date=July 30, 2024 |access-date=August 1, 2024 |work=CNN}}</ref> and said she supports raising the [[Minimum wage in the United States|minimum wage]].<ref name="nytaug11">{{cite news |first1=Nicholas |last1=Nehamas |first2=Reid J. |last2=Epstein |first3=Kellen |last3=Browning|access-date=August 11, 2024 |title=Rallying in Las Vegas, Harris Pledges to End Federal Taxes on Tips |url=https://www.nytimes.com/2024/08/10/us/politics/harris-trump-taxes-tips.html |newspaper=[[The New York Times]] |date=August 11, 2024 |via=NYTimes.com|archive-date=August 11, 2024|archive-url=https://web.archive.org/web/20240811043551/https://www.nytimes.com/2024/08/10/us/politics/harris-trump-taxes-tips.html|url-status=live}}</ref>
 
In response to the [[housing crisis in the United States]], Harris said she would increase home construction to reduce housing costs, arguing that it negatively impacts the economy and hurts working-class families. Harris proposed directing $40&nbsp;billion to construction companies to build starter homes, and promised to send $25,000 in down-payment assistance to every first time home buyer.<ref name="The New York Times-2024-8" /> Harris said she would urge Congress to enforce fair housing laws and pass a bill to bar property owners from using services that "coordinate" rents through the passage of the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act, and also call on Congress to pass the Stop Predatory Investing Act by removing tax benefits to Wall Street firms that buy up large numbers of single-family homes.<ref>{{Cite news |last=Sherman |first=Natalie |date=August 16, 2024 |title=New homes and end to price-gouging: Harris sets economic goals |publisher=BBC News |url=https://www.bbc.com/news/articles/cy8xqy0jv24o |access-date=August 17, 2024 |archive-date=August 17, 2024 |archive-url=https://web.archive.org/web/20240817055831/https://www.bbc.com/news/articles/cy8xqy0jv24o |url-status=live}}</ref><ref>{{Cite news |last=Alcindor |first=Yamiche |date=August 15, 2024 |title=Harris to endorse protections for renters and removal of key tax benefits for Wall St. investors buying homes |publisher=NBC News |url=https://www.nbcnews.com/politics/2024-election/harris-endorse-protections-renters-removal-key-tax-benefits-wall-st-in-rcna166821 |access-date=August 17, 2024 |archive-date=August 17, 2024 |archive-url=https://web.archive.org/web/20240817095136/https://www.nbcnews.com/politics/2024-election/harris-endorse-protections-renters-removal-key-tax-benefits-wall-st-in-rcna166821 |url-status=live}}</ref> Trump proposed further individual and corporate tax cuts beyond the [[2017 Tax Cuts and Jobs Act]].<ref>{{cite news |last1=Oliphant |first1=James |last2=Slattery |first2=Gram |url=https://www.reuters.com/world/us/payback-time-trump-plans-mass-firings-deportations-second-term-2023-11-14/ |title=Trump's second-term agenda: deportations, trade wars, drug dealer death penalty |work=[[Reuters]] |date=April 24, 2024 |access-date=April 27, 2024 |archive-date=December 5, 2023 |archive-url=https://web.archive.org/web/20231205184238/https://www.reuters.com/world/us/payback-time-trump-plans-mass-firings-deportations-second-term-2023-11-14/ |url-status=live}}</ref> Trump argued that keeping taxes low for the wealthy increases job creation,<ref>{{cite news |last1=Boak |first1=Josh |last2=Colvin |first2=Jill |date=April 15, 2024 |title=Tax Day reveals a major split in how Joe Biden and Donald Trump would govern |url=https://apnews.com/article/trump-biden-income-taxes-irs-returns-filings-55d3031de64251169eb247f52430618d |url-status=live |archive-url=https://web.archive.org/web/20240427184733/https://apnews.com/article/trump-biden-income-taxes-irs-returns-filings-55d3031de64251169eb247f52430618d |archive-date=April 27, 2024 |access-date=April 27, 2024 |publisher=Associated Press}}</ref> and that these policies coupled with a crackdown in illegal immigration and reduction in inflation would help the middle class.<ref name="CNN-2024-2" /> Trump said he would reduce regulation of business through the creation of an efficiency commission led by Musk,<ref>{{Cite web|url=https://edition.cnn.com/2024/09/05/politics/trump-economic-plans-musk-government-commission/index.html|title=Trump says Elon Musk has agreed to lead proposed government efficiency commission as ex-president unveils new economic plans|first1=Alayna|last1=Treene|first2=Tami|last2=Luhby|first3=Katie|last3=Lobosco|first4=Steve|last4=Contorno|first5=Kate|last5=Sullivan|date=September 5, 2024|website=CNN|access-date=September 9, 2024|archive-date=September 9, 2024|archive-url=https://web.archive.org/web/20240909140617/https://edition.cnn.com/2024/09/05/politics/trump-economic-plans-musk-government-commission/index.html|url-status=live}}</ref> along with reducing environmental regulation. By October 2024, Musk was Trump's second-largest individual campaign donor.<ref>{{cite news |last1=Durkee |first1=Alison |title=Elon Musk Is Now Trump's 2nd-Biggest Financial Backer: Donates Nearly $120 Million To Super PAC |url=https://www.forbes.com/sites/alisondurkee/2024/10/24/elon-musk-donates-another-436-million-to-pro-trump-america-pac/ |work=[[Forbes]] |date=October 25, 2024}}</ref> Trump said deporting millions of immigrants would bring housing prices down, although most economists argue it could raise prices by removing construction workers who use less real estate.<ref name="The New York Times-2024-8" /><ref name=":6">{{Cite news |last1=Smialek |first1=Jeanna |last2=DePillis |first2=Lydia |last3=Rodriguez |first3=Natasha |date=October 11, 2024 |title=Trump Blames Immigrant Surge for Housing Crisis. Most Economists Disagree. |url=https://www.nytimes.com/2024/10/11/business/economy/trump-housing-crisis-deportations.html |work=[[The New York Times]]}}</ref> Trump and Harris support not taxing tips for at least hospitality and service workers.<ref name="nytaug11" /><ref>{{Cite web |last=Grabenstein |first=Hannah |date=September 4, 2024 |title=Killing taxes on tips sounds good, but experts say it doesn't solve the real problem |url=https://www.pbs.org/newshour/economy/trump-and-harris-say-theyll-kill-taxes-on-tips-how-would-that-work |access-date=October 12, 2024 |website=PBS News |language=en-us}}</ref> Trump suggested that he would abolish the federal income tax and replace it with tariffs. In June 2024, Trump discussed the idea of eliminating the income tax in a private meeting with Republican politicians.<ref>{{Cite web |url=https://www.cnbc.com/2024/06/13/trump-all-tariff-policy-to-replace-income-tax.html |title=Trump floats eliminating U.S. income tax and replacing it with tariffs on imports |first1=Emily |last1=Wilkins |first2=Kevin |last2=Breuninger |date=June 13, 2024 |website=[[CNBC]] |archive-url=https://web.archive.org/web/20241009065041/https://www.cnbc.com/2024/06/13/trump-all-tariff-policy-to-replace-income-tax.html |archive-date=October 9, 2024}}</ref> In October 2024, Trump suggested that he would scrap the income tax if he wins, pointing out that tariffs were the main sources of revenue in the 19th century.<ref>{{Cite web |url=https://www.telegraph.co.uk/us/politics/2024/10/24/donald-trump-suggests-abolish-federal-income-tax-entirely/ |title=Donald Trump suggests he may abolish income tax |work=[[The Daily Telegraph]] |first=Joe |last=Barnes |date=October 24, 2024 |access-date=November 1, 2024}}</ref>
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