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Thread: Hillary Confirms Trillion Dollar Tax Hike Plan

  1. #1

    Exclamation Hillary Confirms Trillion Dollar Tax Hike Plan

    Hillary Confirms Trillion Dollar Tax Hike Plan

    http://www.atr.org/hillary-confirms-...-tax-hike-plan

    Posted by Alexander Hendrie on Tuesday, April 12th, 2016

    During an interview with the editorial team of the New York Daily News, Hillary Clinton admitted her tax proposals will increase taxes on the American people by at least $1 trillion over the next ten years. Here is the key exchange from the meeting, according to a transcript released by the Daily News:

    Clinton: I have connected up my proposals for the kind of investments I want to make with the taxes that I think have to be raised. So on individual pieces of my agenda, I try to demonstrate clearly that I have a way for paying for paid family leave, for example, for debt-free tuition. So I would spend about $100 billion a year. And I think it's affordable, and I think it's a smart way to make investments, to go back to our economic discussion, that will contribute to growing the economy.

    Now I'm well aware that this is a heavy lift. I understand that. But I think connecting what I'm asking for to the programs, to the outcomes and results that I'm calling for give me a stronger hand, and that's how I'm going to go at it.

    Daily News: So if I understand you correctly, if you look at your proposals for college costs and for family leave, for infrastructure investments...

    Clinton: Well, that's a little bit different, because infrastructure investment, I'm still looking at how we fund the National Infrastructure Bank. It may be repatriation. That's one theory, or something else. It's about $100 billion a year.

    Daily News: A hundred billion a year, so that comes out to about a trillion dollars...

    Clinton: Over ten.

    Daily News: ...over ten years.

    Hillary’s $1 trillion tax increase takes the form of several proposals:

    $350 Billion Income Tax Increase for a “New College Compact” – Clinton has proposed a $350 billion income tax hike in the form of a 28 percent cap on itemized deductions.

    $275 Billion Business Tax Increase for “Infrastructure”—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.”

    $400 Billion “Fairness” Tax Increase -- 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,” taxing carried interest capital gains as ordinary income, and raising the Death Tax.

    However, Clinton has also proposed several tax increases not included in the tally above. Because her campaign has failed to release specific details for many of her proposals, the true 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” – Clinton has proposed a series of measures aimed at corporate 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.

    The full transcript of Hillary’s visit to the NY Daily News editorial board can be found here.

    To learn more about Hillary’s various and sundry tax increase proposals, visit ATR’s dedicated website, www.HighTaxHillary.com
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11



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  3. #2
    "exit tax" is like what they did to the other facebook founder when he wanted to leave the US.



    Renunciation of US citizenship

    Saverin has lived in Singapore since 2009.[30][31] According to Saverin, in September 2011 he renounced his U.S. citizenship because of his "interest in working and living in Singapore";[14] he also reduced the capital gains taxes he would have paid after the Facebook IPO.[7][15][16] The Wall Street Journal estimated the tax savings at over $700 million.[17]

    After renouncing his US citizenship, Saverin had to pay an expatriation tax equivalent to the 15% capital gains tax at the marked-to-market value of his stock holdings at the time of ~$50/share × 53 million shares.[9]

    In response, Senator Chuck Schumer introduced the Ex-PATRIOT Act, which would have imposed additional taxes on former US citizens, but the bill died in committee.[32][33][34] Since 1996, the Reed Amendment makes former citizens inadmissible to the United States if the Attorney General determines that they gave up citizenship to avoid taxation; however, it is difficult to enforce in practice.[35] Reed Amendment author Jack Reed wrote to Secretary of Homeland Security Janet Napolitano to urge that Saverin be barred from entering the United States, but as of 2015, he has not applied for a visa to reenter the U.S.[citation needed]
    https://en.wikipedia.org/wiki/Eduard...US_citizenship
    “I don’t think that there will be any curtailing of Donald Trump as president,” he said. "He controls the media, he controls the sentiment [and] he controls everybody. He’s the one who will resort to executive orders more so than [President] Obama ever used them." - Ron Paul

  4. #3
    Quote Originally Posted by CPUd View Post
    "exit tax" is like what they did to the other facebook founder when he wanted to leave the US.

    https://en.wikipedia.org/wiki/Eduard...US_citizenship
    Yup, there is no "leaving" the plantation.

  5. #4
    What a horrible, horrible woman. When voters hear this, I hope they will hear what a disgusting money wh*re she is and will understand that she, like Obama, and like her husband, thinks the taxpayers should be giving money to her and to her friends. They have turned the United States Treasury and the IRS into a giant moneylaundering operation. Organized crime.
    #NashvilleStrong

    “I’m a doctor. That’s a baby.”~~~Dr. Manny Sethi

  6. #5
    Quote Originally Posted by euphemia View Post
    What a horrible, horrible woman. When voters hear this, I hope they will hear what a disgusting money wh*re she is and will understand that she, like Obama, and like her husband, thinks the taxpayers should be giving money to her and to her friends. They have turned the United States Treasury and the IRS into a giant moneylaundering operation. Organized crime.
    With a million man army of button men to enforce and shake down everybody.

  7. #6
    That's ok. We'll probably end up electing her.

    Even though anyone in the GOP would be better - even if not by much.

  8. #7
    Quote Originally Posted by euphemia View Post
    What a horrible, horrible woman. When voters hear this, I hope they will hear what a disgusting money wh*re she is and will understand that she, like Obama, and like her husband, thinks the taxpayers should be giving money to her and to her friends. They have turned the United States Treasury and the IRS into a giant moneylaundering operation. Organized crime.
    Just type whore. Self-censoring when you've chosen to use the word is best described as bizarre. If you don't want the word to be used, choose a different word.
    Quote Originally Posted by Ron Paul
    Perhaps the most important lesson from Obamacare is that while liberty is lost incrementally, it cannot be regained incrementally. The federal leviathan continues its steady growth; sometimes boldly and sometimes quietly. Obamacare is just the latest example, but make no mistake: the statists are winning. So advocates of liberty must reject incremental approaches and fight boldly for bedrock principles.
    The epitome of libertarian populism

  9. #8
    Quote Originally Posted by SpiritOf1776_J4 View Post
    That's ok. We'll probably end up electing her.

    Even though anyone in the GOP would be better - even if not by much.
    Honestly, I'm counting on it. This country is toast no matter who gets elected and i think the Democrats should go down at the wheel. They've earned it.
    Dishonest money makes for dishonest people.

    Andrew Napolitano, John Stossel. FOX News Liberty Infiltrators.


    Quote Originally Posted by Inkblots View Post
    Dr. Paul is living rent-free in the minds of the neocons, and for a fiscal conservative, free rent is always a good thing
    NOBP ≠ ABO



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  11. #9
    Quote Originally Posted by Anti Federalist View Post
    Yup, there is no "leaving" the plantation.
    You can leave alright not just with all your money. It has always been this way and with a wall, it would be jsut a bit harder to sneak out through the back door.



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