US Elections Weekly Update

Published on 2024-10-07

Trump Faces Backlash Over False Jamie Dimon Endorsement Post

Donald Trump stirred controversy once again by sharing a false claim on his Truth Social account that JPMorgan Chase CEO Jamie Dimon had endorsed him for the presidency. The post, which quickly gained traction online, was met with an immediate denial from Dimon’s camp. A JPMorgan spokesperson confirmed that Dimon has not endorsed any candidate in the 2024 race, emphasizing his focus on policy rather than politics. Despite the clarification, Trump distanced himself from the post, claiming ignorance, while the message remains on his platform with thousands of engagements. This episode adds to the growing list of false endorsements Trump has recently shared as the election draws near. Dimon, known for his bipartisan approach, has consistently remained neutral in the race, instead urging future leadership to focus on unifying the nation.

Elon Musk to Join Trump at Rally Where Assassination Attempt Occurred

Elon Musk is set to attend a rally alongside Donald Trump in Butler, Pennsylvania, marking a significant moment as Trump returns to the site of an assassination attempt earlier this year. During the July rally, a gunman grazed Trump’s ear and killed a supporter, Corey Comperatore. Musk, who endorsed Trump shortly after the attack, has continued to bolster his political involvement, recently creating a super PAC to support Trump’s campaign. Saturday’s rally is expected to draw a large crowd, with Musk and several prominent Republicans in attendance as the 2024 election draws nearer. Trump has pledged to honor the victims of the July attack, and Musk’s presence signals his deepening alignment with Trump as he navigates the final stretch of his campaign.

Health Care Takes Center Stage in 2024 as Harris and Trump Spar Over ACA

As the 2024 election heats up, Kamala Harris has intensified her focus on health care, hoping to leverage Democrats' historical advantage on the issue. The Harris campaign has rolled out a series of health care ads, warning that a Trump return to the White House could threaten Obamacare protections, particularly for those with preexisting conditions. Harris aims to solidify Obamacare and lower drug prices, building on Biden’s policies. Meanwhile, Trump continues to criticize the ACA but has yet to fully outline a detailed replacement plan, promising "concepts" for a more affordable solution. This debate underscores the significance of health care for voters, with polls showing Americans demanding more attention on the issue from both candidates

Topic of the week: Tax Reform: Business-Friendly or Fairer for All?

In the 2024 election, Donald Trump and Kamala Harris present starkly different approaches to tax reform, reflecting their broader economic philosophies. Trump's focus remains on extending the business-friendly policies introduced during his presidency, such as making the 2017 Tax Cuts and Jobs Act permanent. His proposals include cutting the corporate tax rate further, potentially as low as 15%, particularly for domestic production, and reducing regulations to encourage growth. Trump argues that these policies would boost the economy by creating jobs and increasing investment, though critics contend they disproportionately benefit the wealthiest Americans.

In contrast, Kamala Harris proposes a more progressive approach aimed at addressing income inequality. She supports raising the corporate tax rate back to 28% and increasing taxes on capital gains for high earners, aiming to redistribute wealth through expanded tax credits for low-income families and workers without children. Harris’s tax reforms also emphasize social benefits, such as making child tax credits more generous and permanent, alongside initiatives to lower housing costs and boost support for homebuyers. Her policies are designed to help middle- and lower-income Americans, particularly those with families.

While both candidates promise to make taxes fairer and improve economic conditions, their strategies diverge significantly. Trump’s approach focuses on reducing taxes for businesses and high-income individuals to stimulate growth, while Harris advocates for higher taxes on the wealthy to fund programs benefiting low- and middle-income households. Voters will need to weigh the trade-offs between stimulating economic growth and ensuring broader income equity as they consider these contrasting visions.