Thread: Full List of Hillary’s Planned Tax Hikes Leaked

Full List of Hillary’s Planned Tax Hikes Leaked



Thursday, July 28th, 2016, 2:56

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, 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 several tax increases on 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 that when asked by ABC's George Stephanopoulos if her pledge was a "rock-solid" promise, she slipped and said the pledge was merely a “goal.”

In other words, she's going to raise taxes on middle income Americans.

Hillary’s formally proposed $1 trillion net tax increase consists of the following:

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, as described in a Clinton campaign document.

“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.

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 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 a byzantine capital gains tax regime with six rates. Her campaign has not put a dollar amount on this tax increase.

Tax on Stock Trading -- Clinton has proposed a new tax on stock trading. Costs associated with this new tax will be borne by millions of American families that hold 401(k)s, IRAs and other savings accounts. The tax increase would only further burden markets by discouraging trading and investment. Again, no dollar figure for this tax hike has been released by the Clinton campaign.

“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. 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. How much? The campaign doesn't say.

This proposal completely fails to address the underlying causes behind inversions: The U.S. 39% corporate tax rate (35% federal rate plus an average state rate of 4%) and our "worldwide" system of taxation, which imposes tax on all American earnings worldwide. The average corporate rate in the developed world is 25%. Thirty-one of thirty-four developed countries have cut their corporate tax rate since 2000. The U.S. has not. Hillary's plan moves in the wrong direction.

http://www.atr.org/full-list-hillary...nned-tax-hikes

Tim Kaine Pushed for Income Tax Hikes on Families Making as Little as $17,000

Friday, July 22nd, 2016, 5:08 PM


As governor, Hillary’s High-Tax-Tim tried to hike taxes by billions of dollars

If prospective Hillary Clinton running mate Tim Kaine had his way, Virginia residents would be paying billions in higher taxes. As governor, Kaine sought to impose nearly $4 billion in higher taxes, including an income tax hike on families earning as little as $17,000 a year. He pushed for tax hikes on businesses and higher taxes on distilled spirits and cigarettes:

Income Tax Hike on Working Families: Kaine tried to Increase the bottom tax rate from 5.75% to 6.75%, directing affecting low income families earning as little as $17,000 annually.

Business Tax: Tax increase on businesses collecting sales tax bumping the state rate from 4% to 4.3%

Alcohol Tax: Kaine pushed a 2% markup on distilled spirits.

Cigarette Tax: Kaine pushed a 60-cents per pack cigarette tax increase.

Kaine’s record in support of tax hikes makes him attractive to Hillary, who has proposed a series of tax increases totaling at least $1 trillion over 10 years.
To learn more about Kaine and Clinton’s tax hike records, visit ATR’s dedicated website, HighTaxHillary.com

http://www.atr.org/tim-kaine-pushed-...g-little-17000

Hillary Open to Carbon Tax, Says Campaign Chief

Tuesday, July 26th, 2016, 7:11 PM



Hillary Clinton is open to the idea of a carbon tax, Clinton campaign Chairman John

Podesta said Tuesday. Podesta’s remarks came shortly after the 2016 Democrat party platform was shown to formally endorse a carbon tax. As reported by Politico Pro:

“Right now we’ve not proposed a carbon tax,” John Podesta told reporters here, after speaking at an event hosted by green groups. “We believe we can get the job done. But if Congress wants to come forward with one, we’ll take a look at it.”

Podesta is not the only Democrat plotting with Hillary Clinton to eventually impose a carbon tax. In June 2015, Senate honcho Chuck Schumer (D-N.Y.) said a Hillary victory could pave the way for a carbon tax. He said:

“There's one sort of [value-added tax] Democrats might be for — and that's a carbon tax. So you might get a compromise along those lines.”
The 2016 Democrat Party platform carbon tax language states:

“Democrats believe that carbon dioxide, methane, and other greenhouse gases should be priced to reflect their negative externalities, and to accelerate the transition to a clean economy and help meet out climate goals.”

The move by Democrats to impose a carbon tax comes in clear contrast to the 2016 Republican Party platform opposition to any carbon tax:
“We oppose any carbon tax.”

Americans for Tax Reform is tracking all of Hillary’s tax hike positions at its dedicated website, www.HighTaxHillary.com

http://www.atr.org/hillary-open-carb...campaign-chief

Hillary’s Soda Tax Endorsement Violates Middle Class Tax Pledge

Thursday, April 21st, 2016, 2:14 PM

Clinton “very supportive” of soda tax

WASHINGTON, D.C. – Despite making a pledge to the American people that she will not raise taxes on anyone earning less than $250,000 Hillary Clinton is “very supportive” of a soda tax.

“Hillary said she would cheerfully support tax hikes on low and middle income American who drink soft drinks,” said Grover Norquist, president of Americans for Tax Reform. “What taxes on low income Americans would she really oppose? Any?”

Clinton was speaking in Philadelphia on Wednesday when she said the following:

“I’m very supportive of the mayor’s proposal to tax soda to get universal preschool for kids. I mean, we need universal preschool, and if that’s a way to do it, that’s how we should do it.”

Clinton used preschool as an excuse for her soda tax endorsement, and the threat to soda and pop drinkers nationwide is clear: Clinton’s official campaign plan calls for universal preschool for the entire country.

The specific soda tax endorsed by Clinton is three cents per ounce of soda.

Further details about this and other Hillary Clinton tax hike endorsements can be found at Americans for Tax Reform’s dedicated website, www.HighTaxHillary.com

http://www.atr.org/hillary-s-soda-ta...ass-tax-pledge

Hillary Admits She Would Not Veto Middle Class Tax Hike




Tuesday, January 12th, 2016, 4:27 AM

Hillary Clinton would not veto a middle class payroll tax increase if it reached her desk as President, she said Monday at an Iowa candidate forum. The admission is a stunning reversal of her repeatedly stated pledge not to raise taxes on any American making less than $250,000 per year.

Clinton made the middle-class tax promise in November and in the ensuing weeks has continually cited the pledge as she campaigned across the country.
But on Monday, during the Brown & Black Democratic Presidential Forum at Drake University in Des Moines, Clinton was pointedly asked if she would veto a payroll tax:

Moderator Alicia Menendez: “Democrats have introduced a plan that Senator Sanders supports that you’ve come out against because it is funded by a payroll tax. If that were to reach your desk as President, would you veto it in order to make good on your tax pledge?”

Hillary Clinton: “No. No.”

Clinton’s outright admission that she would break her middle class tax pledge follows a Dec. 6 remark that the pledge was a mere “goal.” The “goal” comment took place during an interview on ABC’s This Week hosted by George Stephanopoulos:

Stephanopoulos: “You are also saying no tax increases at all on anyone earning $250,000. Is that a rock solid read-my-lips promise?”

Clinton: “Well, it certainly is my goal. And I’ve laid it out in this campaign. And it’s something that President Obama promised. It’s something my husband certainly tried to achieve. Because I want Americans to know that I get it.”

The plan referenced in Monday’s forum is the FAMILY Act, which calls for a payroll tax increase on all Americans, levied on all wages up to $113,700.
Said Grover Norquist, president of Americans for Tax Reform: “Hillary is up front saying, ‘I’m going to lie my way into office.’”

Video of Hillary’s tax hike admission can be viewed here. The relevant portion begins at 1:47:00.



http://www.atr.org/hillary-admits-sh...class-tax-hike