Campaign Promises Under Scrutiny Ahead of Election

With the presidential election just months away, candidates Kamala Harris and Donald Trump ramp up their campaign efforts. However, many of their proposed policies are being analyzed for their feasibility. Rick Newman, Yahoo Finance’s senior columnist, notes that campaign promises often sound appealing but rarely become reality. For example, Trump's idea to eliminate federal taxes on Social Security payments could cost an estimated $170 billion annually and destabilize the program. Similarly, proposals by both candidates to eliminate taxes on tips are questioned, considering only 2% of American workers earn tip income. This move seems primarily targeted at Nevada's hospitality workers, offering little benefit to the majority. Harris's proposed $25,000 subsidy for first-time home buyers is criticized for likely benefiting sellers instead of buyers, as it would drive prices upward. Another contentious point is the idea of taxing unrealized capital gains—or wealth tax—which experts argue might face constitutional challenges. Lastly, Harris's goal to raise corporate taxes back to 28% is also under fire, given that even Biden couldn't achieve a tax increase when his party controlled Congress. In this high-stakes campaign, the gap between promises and realistic policy implementation could be significant, raising questions for voters as they make their choices come election day.