Posted on 07/28/2016 3:40:31 PM PDT by Freedom56v2
Hillary Clinton has made clear she intends to dramatically raise taxes on the American people if elected. She has proposed an income tax increase, a business tax increase, a death tax increase, a capital gains tax increase, a tax on stock trading, and an Exit Tax, and more (see below). Her planned net tax increase on the American people is at least $1 trillion over ten years, based on her campaign’s own figures.
Hillary has endorsed many tax increases on that would hit middle income Americans, despite her pledge not to raise taxes on any American making less than $250,000. She has said she would be fine with a payroll tax hike on all Americans, she has endorsed a steep soda tax, endorsed a 25% national gun tax, and most recently, her campaign manager John Podesta said she would be open to a carbon tax. It’s no wonder she said her $250,000 tax pledge was merely a “goal.”
Hillary’s $1 trillion net tax increase takes the form of several proposals:
Income Tax Increase – $350 Billion: Clinton has proposed a $350 billion income tax hike in the form of a 28 percent cap on itemized deductions.
Business Tax Increase -- $275 Billion: Clinton has called for a tax hike of at least $275 billion through undefined business tax reform. According to the Clinton campaign document, “Hillary will fully pay for these [Infrastructure] investments through business tax reform.”
“Fairness” Tax Increase -- $400 Billion: According to her published plan, Clinton has called for a tax increase of “between $400 and $500 billion” by “restoring basic fairness to our tax code.” These proposals include a “fair share surcharge,” the taxing of carried interest capital gains as ordinary income, and a hike in the Death Tax.
(Excerpt) Read more at atr.org ...
The list is frightening...For example: Fair Share tax increase?!?!?
Here are more~
But there are even more Clinton tax hike proposals not included in the tally above. Her campaign has failed to release specific details for many of her proposals. The true Clinton net tax hike 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” – Rather than reduce the extremely high, uncompetitive corporate tax rate, Clinton has proposed a series of measures aimed at 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.
It’s almost like she doesn’t WANT to win.
But these are only taxes on the “very rich” (like those who own homes, have jobs, buy stuff...)
Morons will vote for her because they think they will not be affected by these tax increases, just those nasty rich “other guys”.
Not surprising... I do have one question I hope someone can answer for me, though: What is the reason for carried interest being taxed at capital gains rate? Ignores the fact that government is too big, but that is one tax policy I don’t (yet) understand.
But these are only taxes on the “very rich” (like those who own homes, have jobs, buy stuff...)
They are very vague...Fair Share Tax is the one that makes my BP soar. Who defines “Fair” and how come “Fair Share” always seems to mean no skin in the game for all the Democrat base?
LOL!
HaHaHa
Or she is confident that the dead don’t tell tales.
I won’t survive her. I think I need to look into some nice double-wides as my home will be impossible to keep.
Damnit!
You can’t do that! Beer through nose is most unpleasant.
last I checked, president’s do not decree tax rates.
or is it presidents.....
From a related thread …
Once again, it’s time for "Federal Government Annual Budget 101,” the constitutionally limited power federal government's annual budget as the Founding States had likely intended for the budget to be understood.
Note that regardless what FDR’s state sovereignty-ignoring activist justices wanted everybody to think about the scope of Congress’s Commerce Clause powers (1.8.3), a previous generation of state sovereignty-respecting justices had clarified the following. Congress is prohibited from appropriating taxes in the name of state power issues, essentially any issue that Congress cannot justify under its constitutional Article I, Section 8-limited powers. This is evidenced by the excerpt below.
”State inspection laws, health laws, and laws for regulating the internal commerce of a State, and those which respect turnpike roads, ferries, &c. are not within the power granted to Congress [emphases added].” —Gibbons v. Ogden, 1824.
“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.
In fact, based on the Court’s statements above, here is a rough estimate of how much taxpayers should be paying Congress annually to perform its Section 8-limited power duties.
Given that the plurality of clauses in Section 8 deal with defense, and given that the Department of Defense budget for 2015 was $500+ billion, I will generously round up the $500+ billion figure to $1 trillion (but probably much less) as the annual price tag of the federal government to the taxpayers.
In other words, the corrupt media, including Obama guard dog Fx Noise, should not be reporting multi-trillion dollar annual federal budgets without mentioning the Supreme Court’s clarification of Congress’s limited power to appropriate taxes in budget discussions.
In fact, Constitution-savvy patriots need to get constitutionally low-information Trump up to speed with the idea that much of the federal taxes that he and his rich friends have always been paying are unconstitutional.
The bottom line is that the corrupt Washington cartel exists to steal 10th Amendment-protected state powers, state revenues and citizens' hard-earned dollars uniquely associate with those powers.
Remember in November !
Patriots need to support the Trump / Pence ticket by also electing a new, state sovereignty-respecting Congress that will work within its Section 8-limited powers to support Trump’s vision for making America great again for everybody. This includes putting a stop to unconstitutional federal taxes, taxes that Congress cannot justify under its Section 8-limited powers.
Also consider that such a Congress would probably be willing to fire state sovereignty-ignoring activist justices.
All the new taxes will break the back of our economy.
Hillary is shrewd enough not to do what Mondale did in 1984.
“I want to be honest with you about raising taxes.”
Well, these days, they seem to be decreeing everything else :(
I’m thinking about a houseboat...moving target harder to tax ;(
Not surprising... I do have one question I hope someone can answer for me, though: What is the reason for carried interest being taxed at capital gains rate? Ignores the fact that government is too big, but that is one tax policy I don’t (yet) understand.
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