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American publisher and business figure Steve Forbes targeted Vice President Kamala Harris’s policies, claiming they seriously threaten the middle class. Forbes highlighted that Harris’s upcoming government spending and increased taxes could further strain the financial situation of the middle class in an already challenging inflationary environment.
Harris’s Massive Spending Plans
Forbes emphasized the financial scale of Harris’s support for projects like “Medicare for All” and the “Green New Deal.” Predicting that both initiatives could cost the government approximately $10 trillion annually, Forbes noted that the “Medicare for All” policy would require an additional $3 trillion per year and the “Green New Deal” an extra $6 trillion. According to Forbes, these massive expenditures would lead to significant tax increases, financially squeezing the middle class.
Forbes also criticized Harris’s energy policies. He pointed out that her desire to ban hydraulic fracturing could increase energy costs and negatively impact the American economy. He expressed concerns that this could increase dependence on external energy sources like Russia, weakening economic security.
Additionally, Forbes suggested that if the government takes a more active role in healthcare, waiting times in hospitals could lengthen, leading to inefficiencies similar to those seen in other countries’ systems.
Forbes’s Criticisms and Harris’s Defense
Forbes’s criticisms are part of a broader discussion on the extensive economic impacts of Harris’s policies. Forbes argued that raising taxes during a period of high inflation would further strain the middle class and prevent low-income individuals from moving into the middle class. He suggested that these pressures could harm the demographic Harris claims to support.
On the other hand, Kamala Harris defends her policies as designed to strengthen and expand the middle class. In a statement on social media, she reiterated her commitment to policies that benefit this group, emphasizing that a strong middle class is essential for a strong America.
Demands from the Cryptocurrency Community
The debates surrounding Harris’s policies also foster a broader dialogue about economic strategies and their impacts on social classes. The cryptocurrency community argues that more crypto-friendly policies could enhance financial inclusion and offer new opportunities for all economic classes.
This community views the current administration’s negative stance on the crypto market as a barrier to broader financial access and economic opportunities.
