Harris wants to undo Dems' favorite part of GOP tax law

[Yo_Mama_Been_Loggin]

Democratic presidential candidate Kamala Harris says she would fund her health care plan by rolling back one of the few changes in President Donald Trump’s tax law that Democrats actually wanted.

The California senator wants to fund her version of Medicare for all, which she says would allow Americans to buy into a public-run option or keep their private insurance, by taxing domestic and offshore profits at the same rate.

That could face resistance within her own party, because it would unwind one of the few parts of the 2017 Republican tax law that Democrats helped develop, even as it may resonate with voters who want to see corporate America pay more taxes.

The tax overhaul passed without any Democratic votes and largely no input in the drafting. But prominent Democrats -- including Senate Minority Leader Chuck Schumer and House Ways and Means Chairman Richard Neal -- had in the years before that pushed to make it easier for U.S. companies to operate globally, a change that Republicans ultimately included in their 2017 tax law.

Territorial System

The overhaul cut the corporate tax rate to 21% and moved toward a so-called “territorial system” under which companies pay the U.S. banner rate on domestic profits only. The law included a minimum tax so corporations operating in low or no-tax countries still pay some tax on their earnings.

Democrats say they would have backed a higher rate -- more like 28% -- but the underpinnings mirror a bipartisan international tax plan Schumer and Senator Rob Portman, an Ohio Republican, released in 2015. Democrats say they opposed the law because it cut taxes too much for corporations and the wealthy and didn’t do enough for middle-income earners.

https://www.msn.com/en-us/money/markets/harris-wants-to-undo-dems-favorite-part-of-gop-tax-law/ar-AAFecV2?li=BBnbfcN

[Indygram]

1. I don't like her plan

I like Medicare for America because it is what most people envision Medicare for All is. Most Americans like the idea of having the ability to get Medicare but do NOT support getting rid of private insurance. Medicare for America does that...and it's already all laid out here:
https://www.congress.gov/bill/116th-congress/house-bill/2452/text

Beto has also said how he will pay for it...roll back the worst parts of Trump's tax cuts...even just by taking corporate rate to 28% and tax Capital Gains the same way income is taxed.

His position is one that can sell to the majority of Americans and that is the only way to pass something that won't just be undone later by the other side.

[emmaverybo]

2. One small clarification to this article's comment on Harris's plan. Though she has said it would

allow people to “keep their private insurance,” she has also said she would “take the employer out
of it.”

What this means I can only guess is that you would not have employer provided insurance. Thus if you were on a group plan provided by your employment, you would lose that plan and have to
buy an individual plan. If you had an individual plan your employment had negotiated, you’d now
have to pay the whole cost yourself, whereas now, your employer might pay some.

Her taking the employer out could also affect your ability to get a good plan as you would NOT be keeping your employer-provided insurance but getting a plan on your own and paying for it.