The nonpartisan Tax Policy Center has run the numbers on
the proposed tax policies of
Hillary Clinton and neo- fascist tax evader
Donald "Rump" Trump and (surprise!) finds one favors working families and the other favors tax- evading millionaires and corporations (while blowing a hole in the federal debt):
Two new Tax Policy Center reports quantify the dramatic contrast between the latest tax plans of Hillary Clinton and Donald Trump. Clinton has proposed a significant tax increase on high- income households and businesses. Trump’s plan, while less ambitious than the version he released in 2015, would still largely benefit high-income households and result in a substantial boost in the federal debt.
Trump’s latest plan would reduce federal revenues by $6.2 trillion over the next decade, with nearly half of the tax cuts going to the highest-income one percent of households. Clinton, by contrast, would boost federal revenue by $1.4 trillion over the next decade, with the bottom 80 percent of households receiving tax cuts and the top one percent paying over 90 percent of the net tax increase. [snip]
Clinton has proposed new tax credits for some households, such as those with high medical expenses or that are caring for aging parents. Her latest plan also expands the child tax credit. To pay for these and other domestic policy initiatives, she’s proposed a 4 percent surtax on adjusted gross income (AGI) in excess of $5 million, a new minimum tax on filers with AGI in excess of $1 million, and a 28 percent cap on the tax benefits from certain deductions and exclusions. She’d also retain the current AMT, raise capital gains taxes for assets less than 6 years, and increase taxes on large estates.
If Rump's plan sounds like trickle- down, voodoo Reaganomics to you...
consider his "advisors," a collection of bankers, hedge fund types, an oil magnate, and even
a professional poker player (no doubt representing those who want to gamble with our economy). If you remember the upwards income redistribution of the '80's, this is more of the same. It's simply taking federal resources (including money for middle- and lower income programs, education, environment, etc.) and doling it out to the wealthy, with the top 1 percent getting a 13.5 percent increase in their after- tax income. Talk about afflicting the afflicted and comforting the comfortable.
