middle class

New parents could get $6,000 for the first year of their child’s life and a restored child tax credit under Kamala Harris’ economic plan

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New parents could get $6,000 for the first year of their child's life and a restored child tax credit under Kamala Harris' economic plan

Economy New parents could get $6,000 for the first year of their child’s life and a restored child tax credit under Kamala Harris’ economic plan Ayelet Sheffey and Juliana Kaplan 2024-08-16T14:33:04Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send … Read more

Harris vows to build ‘opportunity economy’ and attacks Trump on tax

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Harris vows to build ‘opportunity economy’ and attacks Trump on tax

Vice-president and Democratic presidential candidate Kamala Harris unveiled her economic campaign proposal in North Carolina to build what she called an “opportunity economy” focused on the middle class.She said in Raleigh: “Your salary should be enough to provide you and your family with a good quality of life … such as, no child should have … Read more

Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

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Nirmala Sitharaman says burden on middle class narrative ‘not based on facts’; clarifies real estate taxes

Indian Finance Minister Nirmala Sitharaman on Wednesday (August 7) said “we heard the people” as she confirmed revised real estate indexation rules in the Parliament. With the relaxed rules, taxpayers will get more flexibility in calculating their long-term capital gains tax.”The amendment gives taxpayers a choice to calculate and see what works better for them. The current amendment … Read more

Democrats Dare GOP to Vote Against Child, Business Tax Breaks

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Democrats Dare GOP to Vote Against Child, Business Tax Breaks

Democrats in the Senate are daring their GOP colleagues to vote against a $78 billion tax package that would expand the child tax credit and boost tax breaks for companies with large capital and domestic research expenditures. A procedural vote on the stalled bill, which passed the House in an overwhelmingly bipartisan vote in January … Read more

Family Tax Breaks: Will Kamala Harris Expand the Child Tax Credit?

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Family Tax Breaks: Will Kamala Harris Expand the Child Tax Credit?

Since Vice President Kamala Harris became the presumptive Democratic nominee for the 2024 presidential election, there is interest in how her potential administration might handle tax policy — particularly aspects impacting families and children.  One area receiving attention is the child tax credit (CTC), an important financial benefit for many families. For the 2024 tax … Read more

A Harris Economy Could Prove More Progressive Than ‘Bidenomics’

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A Harris Economy Could Prove More Progressive Than ‘Bidenomics’

At the first Democratic presidential debate in 2019, Kamala Harris, then a senator from California, unleashed a scathing critique of the Trump economy.The future vice president billed President Donald J. Trump’s tax cuts as a giveaway to the rich, argued that the booming stock market was leaving the middle class behind and warned that his … Read more

Here’s where Kamala Harris could stand on tax policy, experts say

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Here's where Kamala Harris could stand on tax policy, experts say

U.S. Vice President Kamala Harris speaks during a campaign event at Westover High School in Fayetteville, North Carolina, on July 18, 2024.Allison Joyce | Afp | Getty ImagesWith President Joe Biden officially out of the election, experts are watching for tax policy from Vice President Kamala Harris, the frontrunner for the Democratic nomination.While Harris has … Read more

Budget 2024: All eyes are now on the Finance Minister. From IT changes to corporate tax tweak, here are key things | Mint

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Budget 2024: All eyes are now on the Finance Minister. From IT changes to corporate tax tweak, here are key things | Mint

Finance Minister Nirmala Sitharaman will unveil the Union Budget for the financial year 2024-25 at 11 a.m. on Tuesday. This critical document will outline the government’s revenue and expenditure plans, influencing economic growth and stability across the nation. Understanding the budget’s implications for individuals and businesses alike is essential for informed financial decision-making.Also Read | … Read more

How middle class pays more taxes than corporates, and gets ignored too

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How middle class pays more taxes than corporates, and gets ignored too

Read Full Budget 2024 CoverageThe middle class, the tax-paying population of India, stares at the face of the government every time the Budget day approaches. It is that neglected segment that pays both income tax for earnings, and GST for spending. It is this 2% of the entire population of India that is contributing massively … Read more

Budget 2024 Capital Gains taxation: Corporate tax for foreign companies slashed to 35%, charities, cruise operations taxation revised

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Budget 2024 Capital Gains taxation: Corporate tax for foreign companies slashed to 35%, charities, cruise operations taxation revised

Simplifying the tax regime for corporate industries, Union Finance Nirmala Sitharaman on Tuesday, proposed new tax structures for charities, foreign shipping companies, rationalisation of capital gains in her 2024 Budget speech. She also reduced corporate tax on foreign companies from 40 to 35%. Ms. Sitharaman’s speech lasted just shy of ninety minutes Also read: Budget … Read more