Harris pushes for higher wages as Trump mulls tax overhaul
The Democratic presidential candidate stated on Monday that raising the minimum wage is necessary, especially after her rival sidestepped this question. Meanwhile, Trump suggested that he might abolish the income tax, referencing the 19th-century situation.
6:24 AM EDT, October 22, 2024
- The current federal minimum wage is $7.25 per hour, which means that a person working full-time throughout the year would earn $15,000 annually, essentially a poverty wage - said Harris during a brief meeting with the press in the Detroit suburbs, Michigan.
Harris promises to raise the minimum wage
She added, "I absolutely believe that we must raise the minimum wage," without specifying what the new minimum wage should be.
The federal minimum wage has been $7.25 per hour for 15 years. Democrats initially planned to include a wage increase in the Inflation Reduction Act bill. This was supposed to fulfil Joe Biden's campaign promise, but it was ultimately abandoned due to opposition from Republicans and some moderate Democrats. In 2024, however, half of the 50 states raised their state minimum wages. In three of them—California, New York, and Washington—it rose to $16 per hour.
Harris emphasized the importance of raising the wage a day after her Republican rival Donald Trump avoided answering the same question during a visit to a McDonald's, where he fried fries for 15 minutes.
Trump suggests eliminating income tax
The Republican candidate suggested that he might eliminate the federal income tax, replacing it with tariff revenues. During a visit to a barbershop in the Bronx, New York, he mentioned that eliminating this main revenue source for the budget is possible, highlighting the 19th-century United States when America was a "smart country" and supposedly wealthier than it is now.
- Back then, we only had tariffs. We didn’t have an income tax - he recalled. However, as noted by "The Wall Street Journal" and other media outlets, replacing tax revenue with tariffs is essentially impossible.
Earlier in the campaign, Trump promised to eliminate the obligation to pay taxes on tips, as well as on Social Security benefits. Media reports also indicated that Trump's team is considering tax exemptions for police officers, firefighters, and other uniformed services.
