Hillary’s $1 Trillion Tax Increase

Americans 'facing $1 trillion tax hike' with Clinton 'But there are even more proposals not included in the tally', by Bob Unruh, 7/29/16, WND

There’s been talk about what a Hillary Clinton presidency would cost the United States: more loss of religious rights as she pursues Barack Obama’s “gay” agenda, a loss of gun rights, a diminution of military might, the incalculable toll of appointing Supreme Court justices who want the law to reflect their own ideologies rather than the Constitution.

But here’s something that’s certainly a little more defined. $1 trillion.  Or probably more, in massive tax hikes she’s proposing.  It amounts to a bump of $3,100 per taxpayer.  At least. The report comes from Americans for Tax Reform.

It says Clinton is suggesting a $350 billion hike in income taxes by limiting the itemized deductions for families, a $275 billion hike through “undefined business tax reform and a $400 billion “fairness” tax hike.

Described by Democrats as “restoring basic fairness to our tax code,” it would include a “fair share surcharge,” the report said.

“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. … Her planned net tax increase on the American people is at least $1 trillion over 10 years, based on her campaign’s own figures.”

Based on a population of about 320 million, that’s a “fair share” tax hike of about $3,100 for every man, woman and child.

“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 percent national gun tax, and most recently, her campaign manager John Podesta said she would be open to a carbon tax,” ATR reported.

“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.”

And there’s more. “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,”

ATR’s report said. For example, she wants to boost capital gains taxes, calling for a “byzantine capital gains tax regime with six rates,” ATR said.

Also, the report said: “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.” And she wants an “exit tax” on income earned overseas.

She hasn’t put dollar figure estimates on those plans, the report said. But the organization continues to track her plans at HighTaxHillary.com.

http://www.wnd.com/2016/07/americans-facing-1-trillion-tax-hike-with-clinton/