Posted on 09/22/2016 11:18:50 AM PDT by orchestra
Democratic presidential candidate Hillary Clinton would impose a 65% tax on the largest estates and make it harder for wealthy households to pass appreciated assets to their heirs without paying taxes, according to an updated version of her tax plan released Thursday.
The estate tax increase and other new proposals from Mrs. Clinton would generate $260 billion over the next decade, enough to pay for her plans to simplify small business taxes and expand the child tax credit, according to the nonpartisan Committee for a Responsible Federal Budget, which advocates fiscal restraint.
In all, Mrs. Clinton would increase taxes by about $1.5 trillion over the next decade, increasing federal revenue by about 4%, though that new burden would be concentrated on relatively few households. There is at least a $6 trillion gap between her plan and the tax cuts proposed by her Republican rival Donald Trump.
(Excerpt) Read more at wsj.com ...
It is a significant factor in the source of much of the economic stagnation, increasingly evident in Western nations. We let those who covet the success of others, tear down those against whom their envy is directed. Rather than emulate, they can only disparage & blame.
Consider: Blame & Envy.
Yet her rich donors will still contribute to her.
I remember a few years ago NY was the taxes on a pack of cigarettes to about $5 a pack, or something like that, and they envisioned that they would get close to $300 Million annually in new money. Never happened they got a faction of that. People will find ways to reduce or eliminate of possible.
And they wonder why money leaves the USA and tax attorneys set up so many tax favored plans.
Yep, as are property taxes.
No problem, just sell the real estate to the kids for $0.50, spend the worthless paper money on education and horde gold.
“Wealthy” meaning $1 million which is every house in NYC, SoCal, NoCal, and a lot of other cities. Middle class people stand to inherit a house. She wants half. F U. It’s not your money,
No fear. Madam Hillary Benghazi will assign the Proletariat Workers to Collectives where they can produce "for the greater good".
Grow the death tax???
When you impose more tax on the rich/successful business owners you kill more jobs by further limiting one of three factors of production.
That is all right with me. Since the rich in this country are so eager to create a majority Democrat-socialist society through immigration and control of the media then they can just pay thes4e taxes. I changed my mind on a lot of things.
I can’t help but remember when Bill Clinton was giving a speech in upstate New York. he was enjoying a ‘surplus’ and said ‘what should we do with the surplus? Well, we could give it back to you (and the place erupted in applause) but you might not do the right thing with it’. Dems believe all the money in the country should belong to them because ‘you might not do the right thing with it’.
I see a lot of .01 percenters looking for alternate citizenship if this passes.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” —Justice John Marshall, Gibbons v. Ogden, 1824.
”From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added].” —United States v. Butler, 1936.
So Hillary should be promoting an estate amendment to the Constitution to the states on the campaign trail which the states would probably ignore.
Remember in November !
Patriots need to support Trump / Pence by also electing a new, state sovereignty-respecting Congress that will not only work within its constitutional Article I, Section 8-limited powers to support Trump’s vision for making America great again for everybody, but will also put a stop to unconstitutonal federal taxes and likewise unconstitutional inteference in state affairs, estate issues for example.
Note that such a Congress will also probably be willing to fire state sovereignty-ignoring activist justices.
I’d go for a 100% tax on phony foundations.
Yes, this would be fair.
"...There should not be any death tax, period..."
She’s really going after Trump’s kids, isn’t she?
This money has already been taxed. People don’t work hard their entire lives so when they die they can give all their money to the government. They work hard their whole lives so when they die they can pass it along to their family and loved ones. Hillary is a Communist POS.
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