Tax reform is a big issue in this year’s presidential election – at least for Donald Trump. The billionaire is calling for pro-growth tax reform with widespread rate reductions, but his Democratic rival seems to see no need for any tax relief whatsoever.
In fact, Clinton has proposed a chain of crippling tax increases that will cost taxpayers an additional $1 trillion over the next 10 years. This is bad news for middle class Americans already struggling to pay bills and health insurance premiums. The former Secretary of State is planning to hit us on all fronts, with increases in:
• Income tax
• Business tax
• Death tax
• Financial transactions tax
• Capital gains tax
Clinton is planning to establish a “Fairness tax,” which would affect all individuals and families making over $1 million per year, as well as a carbon tax.
She plans to reap an additional $275 from American businesses, which already pay the highest corporate taxes in the world, and her suggested increase on income tax will cost Americans over $300 billion.
This money will be used to pay for big-government initiatives like “free college,” which will shift the burden from the student to the hardworking taxpayer, and “free WiFi,” a doomed proposal aimed at Millennials.
“Frankly, I am very surprised that Secretary Clinton would support this regressive tax after pledging not to raise taxes on anyone making less than $250,000,” said Bernie Sanders. “This proposal clearly violates her pledge.”
The US tax code is already forcing American businesses to open up shop in other countries, but Hillary seems uninterested in solving the underlying problems here. She even plans to tax revenue earned overseas by slapping an “Exit tax” on businesses that operate outside the US.
While GOP nominee Donald Trump supports banning the Death tax, Hillary wants to raise it by 45%. She has even taken aim at our Second Amendment rights by proposing a 25% increased tax on gun sales. To punish firearms dealers further, she plans to raise the annual dealer fee to $2,500.
Hillary’s aggressive tax agenda clearly shows that she is not afraid to sacrifice the state of the American economy for her own gain, and she has made it painfully clear what she will do if elected in November: raise taxes on hardworking Americans and use those funds to boost the size of her corrupt government.