Clinton Says January Tax Proposals Will 'Go Beyond' Buffett Rule

[riversedge]

Source: Bloomberg.com




Clinton Says January Tax Proposals Will 'Go Beyond' Buffett Rule

Jennifer Epstein

January 2, 2016 — 10:00 AM CST


Democratic presidential front-runner Hillary Clinton will unveil proposals this month that will “go beyond the Buffett Rule” to raise the effective tax rates paid by the wealthiest Americans, she said Saturday.

“As president, I'll do what it takes to make sure the super-wealthy are truly paying their fair share,” Clinton said in a statement responding to the Internal Revenue Service's release of new data on tax rates paid by the 400 wealthiest U.S. households, which averaged 22.89 percent in 2013.

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Since launching her campaign in April, Clinton has bemoaned what she sees as unfair tax policy, arguing it's wrong “when hedge fund managers pay a lower tax rate than truck drivers or nurses.” Vermont Senator Bernie Sanders, her leading rival for the Democratic nomination, uses similar rhetoric, though the accuracy depends on exactly what's being measured.




Read more: http://www.bloomberg.com/politics/articles/2016-01-02/clinton-says-january-tax-proposals-will-go-beyond-buffett-rule

[Truprogressive85]

1. What is the current tax rate for those earning $1,000,000

[catnhatnh]

5. 39.5% married/joint over $464,850 is the max bracket

and if she simply doubled it they might pay 30% but failing that the entire system-thousands upon thousands of pages of it would need to be scrapped or re-written...

[clif]

6. It Depends

It depends on how the income was generated. There are as many income vessels as there are write-offs.

[riversedge]

2. Tweet Hillary Clinton previews new tax policy proposals

Hillary Clinton previews new tax policy proposals http://www.cbsnews.com/news/hillary-clinton-previews-new-tax-policy-proposals … #p2 #uniteblue #wipolitics

[Andy823]

3. So how can this be done?

Will this be something that has to go through congress in order to be changed? If so then how any of the candidates be able to change things if republicans still control at the very least, the House?

[MADem]

12. EVERYTHING goes through Congress.

The question one has to ask is, is the proposal viable? Will ANY legislator vote for it?


This is why those down-ticket races in the general election are so important. HRC raised eighteen million dollars to give to the DNC that will go towards helping DEMOCRATS kick out those Republicans who control the Hill right now. That money will only be rolled out in the general election, and it will go to the candidates that have the best shot at winning. We're not looking for valiant attempts, we are looking for victories--we want Dem asses warming those seats in Congress!

[elleng]

4. Martin O’Malley’s Idea for Tax Increases

'During Saturday’s CNN Democratic debate, Governor Martin O’Malley (D-MD) suggested creating a new tax bracket that would apply to income over $1,000,000, and taxing capital gains at ordinary marginal income tax rates. He claimed that these changes would provide sufficient revenue for the public investments he supports. Here is the relevant quote:

“If we were to raise the marginal rate to 45% for people earning more than a $1,000,000, and if we taxed capital gains essentially the same we do earnings from hard work, sweat, and toil, you could generate $800 billion over the next 10 years, and that would do so much good for affordable college, debt-free college, cutting youth unemployment, investing in our cities again…”

“If we were to raise the marginal rate to 45% for people earning more than a $1,000,000, and if we taxed capital gains essentially the same we do earnings from hard work, sweat, and toil, you could generate $800 billion over the next 10 years, and that would do so much good for affordable college, debt-free college, cutting youth unemployment, investing in our cities again…” --- Martin O'Malley

[Abouttime]

7. Capital gains needs to go up, way up

It should be at least 50%
A tax that high on capital gains would likely provide free education and health care

[Yupster]

8. Is it worth buying a stock then?

If it goes down you lose money. If it goes up you only get half your gains.

Are you better off just buying a 4 % bond then with much less risk?

[Calista241]

13. For sure you'd be better off buying bonds with a rate that high.

It's a fine line between taxing it enough and stifling investment.

[davidpdx]

9. I believe taxes were higher than that under her husband's administration

Those tax rates are exactly what we need to go back to. That is what Robert Reich has been advocating for.

[trillion]

10. Sorry, but sheis the billionaire choice candidate for the Dem side. I know not to trust her becuase

I watched her burn us repeatedly when she was a senator. Rarely did she throw us a bone. She was the biggest dino in Congress. After that, when she was secretary of state she kept trying to get us into more wars.

All Bernie needs to do is bring out her congressional voting record to educate the dems who would vote for her - that are showing a profound lack of historical knowledge on Hillary.

[trillion]

11. The CON: She's wants taxing households NOT corporations.

Most large corporations pay zero in taxes. She isn't doing a thing to change that.