Clinton proposes a new 4 percent tax on the wealthy [View all]

[applegrove]

Clinton proposes a new 4 percent tax on the wealthy

by Bernie Becker at Politico

http://www.politico.com/story/2016/01/hillary-clinton-tax-wealthy-217583#.m7moiph:wjrH

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Hillary Clinton today proposed a 4 percent surtax on the highest-earning Americans, as she seeks to boost taxes for the wealthiest Americans.

The proposal, which she announced in Iowa, would raise an estimated $150 billion over a decade, a Clinton aide said, and comes after the Democratic front-runner said that she would build on the so-called Buffett Rule that seeks to ensure that the middle class doesn't pay a higher tax rate than top earners.

The surtax would hit those with annual income of more than $5 million, and would affect roughly 0.02 percent of taxpayers.

Clinton is calling the plan a “fair share surcharge.” The Clinton aide cast the approach as a simple way to raise effective tax rates on the wealthiest, who can rely on tax planning and find ways to game the tax system.


Read more: http://www.politico.com/story/2016/01/hillary-clinton-tax-wealthy-217583#ixzz3wzWZTzgK


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