Hillary Confirms Trillion Dollar Tax Hike Plan

[applegrove]

Hillary Confirms Trillion Dollar Tax Hike Plan

by Alexander Hendrie at Americans for Tax Reform (I know, I know but this made me proud of Hillary)

http://www.atr.org/hillary-confirms-trillion-dollar-tax-hike-plan

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However, Clinton has also proposed several tax increases not included in the tally above. Because her campaign has failed to release specific details for many of her proposals, the true figure is likely much, much higher than $1 trillion.

For instance:

Capital Gains Tax Increase -- Clinton has proposed an increase in the capital gains tax to counter the “tyranny of today’s earnings report.” Her plan calls for an overly complex, byzantine capital gains tax regime with six brackets for those whose total taxable income puts them in the top 39.6 percent bracket. Her campaign has not said how much this will increase taxes.

Tax on Stock Trading -- Clinton has proposed a new, unquantified tax on stock trading. The tax increase would only further burden markets by discouraging trading and investment. Inevitably, costs associated with this new tax will be borne by millions of American families that hold 401(k)s, IRAs and other savings accounts.

“Exit Tax” – Clinton has proposed a series of measures aimed at corporate inversions including an “exit tax” – on income earned overseas. The term “exit tax” is used by the campaign itself. This proposal would completely fail to address the underlying causes behind inversions. Her campaign document describing this proposal says it will raise $80 billion in tax revenue, but claims some of the $80 billion will be plowed into tax relief. It does not specify a dollar amount.


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[applegrove]

1. Go Hillary Go!