Sep 26, 2024
CHARLOTTE, N.C – We asked people in uptown Charlotte: what do you know about the national debt? The answers varied: “We’re in a lot of it.” “It’s high. It’s high. It’s too high.” “Not much.” The national debt is not a topic that’s gotten a lot of attention this election cycle. But that doesn’t mean it’s not important. Alloy Wealth Management CEO Mark Henry says, “It’s the amount of money that the government has borrowed from other countries around the globe to use in our own government spending.” In a survey of 93 likely voters on X, we asked if the national debt is an issue that will influence their vote in November. 40 percent said yes, 60 percent said no. Henry says, “Defaults on our debt is just simply not an option. We would lose our place in the world.” Henry talked with WCCB about the national debt and the election in battleground North Carolina. He says, “Politicians, regardless of how you’re going to vote, they don’t want to talk about this subject.” Reuters reports that Republican candidate Donald Trump’s plan is to extend tax cuts, exempt social security and tips from taxes and further cut corporate income taxes. Reuters checked with four budget forecasters who say Trump’s changes would add $3.6 to $6.6 trillion to the national debt. Reuters says Democratic candidate Kamala Harris’ plan includes expanding the child tax credit, no taxes on tips and a $25,000 first-time home buyer tax credit. Reuters reports the same group of forecasters say Harris’ plan could reduce the debt by as much as $400 billion or add up to $1.4 trillion to the debt. Henry says, “Regardless of who we vote for, we have to expect that our taxes have to go up. And that’s something nobody wants to hear.” In uptown Charlotte, people told us: “I think that taxes are going to have to go up. And that’s what I do for a living. So, I don’t like it at all. But I think that they’re going to have to go up some.” “Don’t want to raise taxes. Cut spending. Focus on the United States, not other countries.” “Definitely need to cut spending. The government’s just out of control with what they’re doing.” “I think we have to make smart cuts. Both sides.” Henry says it’ll come down to compromise, something the country seems to have forgotten how to do.  
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