Hillary Confirms Trillion Dollar Tax Hike Plan

[LilSaihah]

I am not entirely certain why this is an issue.

You take what you want and you pay for it.

Though frankly, that so much of this would be servicing the debt, and it'd be the baby boomers who gain the benefits while the younger generations get the bill, is not exactly pleasant.

Also on this 'free college' thing why don't they use the 'free college' money and instead use it to make the primary and secondary school systems not complete dogshit

[tankbug]

I would congratulate Democrats for making you so utterly scared and afraid of their political opponent. You couldn't ask for more perfect sheep.

Democrats haven't done a thing. Every time Trump is in the media he makes a fool out of himself and shows that he's not presidential material. His strategy disgusts me, and I have never seen a more dishonest candidate. At least Cruz believes in his own medieval bullshit ideas.

[Caolela]

No. I work for a private company in Massachusetts. They have military contracts but I don't work on those projects.

Do I intend to? No. I've been in this position for about a year and change, and I'll probably quit within the next year at most. I'm working on setting up my own company with folks from my current team, my prior employer and college/grad school. We're getting our ducks in a row for investor hunting this summer. If that succeeds, I'll leave here.

Our group is working on great stuff and we think we can make a very attractive company for a buyout by a larger firm after a couple of years.

I seem to have missed this post. It's clear why Clinton is your gal - it would likely make things even better for potential investors - yes that usually means Wall Streeters - and thus for your little planned biz venture. Everyone knows she and the establishment Dems are on the big bank's and hedge funder's tit and will be like having the fox guarding the henhouse again.

Just like Bush was and Obama is, as I said before. Let's see...does Tim Geithner ring a bell? How about Larry Summers and Bob Rubin, who with some Congressional Repubs helped Bill Clinton kill Glass-Steagall, paving the way for the '08 crash and who Obama still had around? Why did they let Sheila Bair go in 2011?

That's why you're working overtime to discredit Sanders. He's not in the pocket of the pockets you hope will open for you during the next administration.

GG. Keep spinning.

[LilSaihah]

That's why you're working overtime to discredit Sanders. He's not in the pocket of the pockets you hope will open for you during the next administration.

Maybe he wants to discredit Sanders because he doesn't know how money works? :xxx

[judgementofantonidas]

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.




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

more taxes..................... easy enough for her, or any politician to just say, yep, ill pay for all of this by taxing citizens more.

[LilSaihah]

more taxes..................... easy enough for her, or any politician to just say, yep, ill pay for all of this by taxing citizens more.

well at least she's recognizing that there's a bill that needs to be paid

she could be going "lol lets not worry about that, the next president can worry about it! :^)"

[Caolela]

Also on this 'free college' thing why don't they use the 'free college' money and instead use it to make the primary and secondary school systems not complete dogshit

Because as I said a few posts ago, they don't need the vast majority to be well-educated, even out of high school. Having outsourced most of our jobs elsewhere with NAFTA and such, there isn't much left but service jobs and part-time. Just the basic 'Three R's' is all that's needed, and keeping people dumbed down is a good way to keep the status quo.

[LilSaihah]

Because as I said a few posts ago, they don't need the vast majority to be well-educated, even out of high school.

then why advocate for free college for everyone

Just the basic 'Three R's' is all that's needed, and keeping people dumbed down is a good way to keep the status quo.

Trump loves the poorly educated, exactly how well do you think this attitude will bear out?

[judgementofantonidas]

well at least she's recognizing that there's a bill that needs to be paid

she could be going "lol lets not worry about that, the next president can worry about it! :^)"

when I see 600 dollars leave my bi weekly pay check of 1500, between taxes and government mandated "benefits" I get the feeling that I am already taxed too much by far.

[LilSaihah]

when I see 600 dollars leave my bi weekly pay check of 1500, between taxes and government mandated "benefits" I get the feeling that I am already taxed too much by far.

Oh no definitely, I understand that- but what's Congress going to do? Not pay its debts? Declare bankruptcy? At this point I worry you've only got a few options; buck up and pay or play the rat fleeing from a sinking ship.

[Caolela]

then why advocate for free college for everyone



Trump loves the poorly educated, exactly how well do you think this attitude will bear out?

If Sanders is for free college, then he might be serious to actually push for that. If Clinton, I don't see it happening. Trump? He'd probably find a way to bankrupt the edu system, privatize it, and call it a good business move.

[LilSaihah]

If Sanders is for free college, then he might be serious to actually push for that. If Clinton, I don't see it happening. Trump? He'd probably find a way to bankrupt the edu system, privatize it, and call it a good business move.

Doesn't actually address what I've said but okey dokey.

[Lutris]

when I see 600 dollars leave my bi weekly pay check of 1500, between taxes and government mandated "benefits" I get the feeling that I am already taxed too much by far.

that's because you're lower-middle class. the rich get tax breaks, so the costs of running your government are passed on to you. that's how the system you're defending works.

/kind of half-joking, but really

[Shadowferal]

that's because you're lower-middle class. the rich get tax breaks, so the costs of running your government are passed on to you. that's how the system you're defending works.

/kind of half-joking, but really

That's actually near-accurate.

Two rather simplistic ways to think of how we pay taxes:
One way is determined in part by how much Congress thinks big business should pay. If they think they should pay more, then you, the individual, pay less. And the reverse.
The second way was determined by the amount earned by comparing that magical of numbers for the top. I think the magic number today is $500k). If Congress say that those at the top pay less, you pay more.

A middle class family whose income is derived solely from a paycheck should never be taxed at a higher effective rate than the millionaire whose income is derived from speculating on Wall Street.

[Theinquisition]

That's actually near-accurate.

Two rather simplistic ways to think of how we pay taxes:
One way is determined in part by how much Congress thinks big business should pay. If they think they should pay more, then you, the individual, pay less. And the reverse.
The second way was determined by the amount earned by comparing that magical of numbers for the top. I think the magic number today is $500k). If Congress say that those at the top pay less, you pay more.

A middle class family whose income is derived solely from a paycheck should never be taxed at a higher effective rate than the millionaire whose income is derived from speculating on Wall Street.

I think that's half the problem

The other have is corruption in how taxes are spent.

[judgementofantonidas]

Oh no definitely, I understand that- but what's Congress going to do? Not pay its debts? Declare bankruptcy? At this point I worry you've only got a few options; buck up and pay or play the rat fleeing from a sinking ship.

give up a few limousines. eat a few bag lunches. you know, lower debt to income ratio, like the lower class has to do just to get by. I would say that a politician making 50k is generous. Drop them to that and funnel all the excess to paying past debt. Funny, when I owe money the government won't hesitate to take it away from me. When the government owes money the government won't hesitate to take more money from me. How the fuck does that work??

- - - Updated - - -

that's because you're lower-middle class. the rich get tax breaks, so the costs of running your government are passed on to you. that's how the system you're defending works.

/kind of half-joking, but really

no. you are absolutely right. that is what is going on. i only "support" the system so far as i have not gotten the nerve to leave the country.

[Reeve]

In my case, I have a great job that pays my healthcare premiums. Sanders tax plan is catastrophic for my family.

You think your company will just pocket all of the savings they'll get by not having to pay for your healthcare premiums anymore? If you actually have a "great job," your company will increase your pay commensurate with their savings. AND you'll no longer have to pay copays or deductibles.

[Pterodactylus]

You think your company will just pocket all of the savings they'll get by not having to pay for your healthcare premiums anymore? If you actually have a "great job," your company will increase your pay commensurate with their savings. AND you'll no longer have to pay copays or deductibles.

I work for the State.

[iceberg265]

Bernie Sanders: "I'm going to raise your taxes, although you're going to actually save a lot of money, because you won't be paying insane healthcare premiums."
People everywhere: OH MY GOD HE'S GOING TO RAISE OUR TAXES! SOCIALIST! COMMUNIST! *completely ignoring the latter portion of the statement*

Hillary Clinton: "Hey, I'm going to raise your taxes too!"
People everywhere: "Nothing wrong with that. We love you Shillary!"

Funny how it goes.

You know why this is, right? Because the media conglomerates are some of Clinton's top campaign contributors. The media wants her to win, because then they will have a president who owes them. Bernie doesn't take their money, so they demonize him.

[Reeve]

I work for the State.

If anyone is likely to increase wages to offset the fact that they no longer have to pay your insurance, I'd expect the state would. They already have the budget, and what budget they don't spend they tend to lose.