Whose Tax Plan Is Better: Trump Or Harris? This Social Media Influencer Says A Harris Administration Would Save Middle-Class Americans On Taxes

In a viral TikTok video, social media influencer Zak Kimball (@zak.kimball) dives into the debate over tax plans proposed by Donald Trump and Kamala Harris, breaking down the numbers for an average American family. Kimball aims to move beyond political talking points and base the comparison on actual data. Using Census Bureau statistics, he analyzes which tax policy would benefit a typical middle-class family more.

Don't Miss:

• The average American couple has saved this much money for retirement — How do you compare?
• Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.

Kimball's Approach: Using Data to Inform the Debate

Kimball begins his analysis by defining the average American family as earning $75,000 per year and having two children aged 5-17. He carefully constructs a scenario that does not favor Trump or Harris, despite the latter's favorable child tax credit structure.

According to Kimball, the former president's plan centers on making the 2017 tax cuts permanent. Under Trump's policy, a family with a $75,000 income and two children would benefit from a standard deduction of $27,700 and receive $2,000 per child in tax credits. Kimball calculates an effective tax rate of 2.23%, leaving the family with a tax bill of $1,676.

Trending: A billion-dollar investment strategy with minimums as low as $10 —you can become part of the next big real estate boom today.

By contrast, Harris's plan, which would let Trump's tax cuts expire in 2025, is based on pre-2017 tax laws. While her standard deduction would be lower at $12,700, the $6,000 in child tax credits ($3,000 per child) would more than offset that. Kimball finds that under Harris's tax proposal, the family's effective tax rate would drop to 1.22%, resulting in a tax bill of just $915 – giving the family a $761 advantage.

Tariffs: The Hidden Cost of Trump's Plan

However, Kimball goes further by factoring in Trump's proposed 10% tariff on all imports and a 60% tariff on goods from China. He cites data from conservative think tanks, including the American Action Forum, which estimates these tariffs would cost households between $1,700 and $4,000 annually. Adding this cost to Trump's tax bill for the average family brings their total financial burden to a striking $4,736 more than under Harris's tax plan.

See Also: The number of ‘401(k)' Millionaires is up 43% from last year —Here are three ways to join the club.

Beyond Taxes: Healthcare and Homeownership

Kimball also highlights that Harris's plan extends beyond direct taxation. Harris proposes incentives for saving on health care costs and initiatives to help middle-class families afford their first homes. Kimball argues that these additional benefits make Harris's plan even more attractive for average families.

While Kimball's analysis favors Harris, it's important to consider that some voters may prefer Trump's focus on keeping taxes low overall, particularly for businesses and high earners. This approach, Trump supporters argue, could stimulate economic growth and job creation, benefiting all Americans in the long term. However, critics contend that the tariffs proposed by Trump could significantly raise costs for middle-class families, counteracting the benefits of his tax cuts.

Trending: Commercial real estate has historically outperformed the stock market, and this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!

Ultimately, Kimball's data-driven approach suggests that, for middle-class families, Harris's tax plan offers greater financial relief. Though taxes alone don't paint the full picture, the advantage tilts significantly in Harris’s favor when tariffs and additional policy considerations are factored in. As Kimball encourages viewers, doing your research and breaking down the numbers is key to understanding the real impact of these policies on American households.

Read Next:

• This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
• If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?