red baron wrote on Nov 5
th, 2016 at 4:53pm:
Forget about sex scandals and all of that shite.
Let's have a glass of reality.
America's national debt double in the 8 years of Obama. Hillary Clinton absolutely endorses Obama therefore what is her plan to relieve the national debt? None...zip...more of the same.
Quote:A March 2016 analysis by the Urban-Brookings Tax Policy Center summarized Clinton's tax proposals as follows: "Hillary Clinton proposes raising taxes on high-income taxpayers, modifying taxation of multinational corporations, repealing fossil fuel tax incentives, and increasing estate and gift taxes. Her proposals would increase revenue by $1.1 trillion over the next decade. Nearly all of the tax increases would fall on the top 1 percent; the bottom 95 percent of taxpayers would see little or no change in their taxes. Marginal tax rates would increase, reducing incentives to work, save, and invest, and the tax code would become more complex. The analysis does not address a forthcoming proposal to cut taxes for low- and middle-income families."[78] Clinton specifically has proposed a 4% surcharge on taxpayers earning over $5 million a year; a 30% minimum tax rate on millionaires, defined as those with adjusted gross incomes above $1 million (the "Buffett Rule"), a 28% cap on most deductions, and increased taxes on long-term capital gains. The proposal also increases several business taxes, and seeks to penalize excessive risk-taking in the financial sector while at the same time creating incentives for business programs that would help workers and communities in distress.[79][80] The Tax Policy Center estimates that Clinton's plan, on average; would: leave the poorest earners' taxes essentially unchanged; increase middle-income households' taxes by $44 (a 0.001% change); increase the top 1%'s taxes by $78,000; and increase the top 0.1%'s taxes by $520,000.[79]
https://en.wikipedia.org/wiki/Political_positions_of_Hillary_Clinton#Economic_po...And here's Trump:
Quote:On the federal personal income tax, Trump has proposed collapsing the current seven brackets (which range from 10% to 39.6%) to three brackets of 10%, 20%, and 25%; increasing the standard deduction; taxing dividends and capital gains at a maximum rate of 20%; repealing the alternative minimum tax; and taxing carried interest income as ordinary business income (as opposed to existing law, which provides for preferential treatment of such income).[58][59] With respect to business taxes, Trump has proposed reducing the corporate tax rate to 15%; limiting the top individual income tax rate on pass-through businesses such as partnerships to no more than 15%; repealing most business tax breaks as well as the corporate alternative minimum tax; imposing a "deemed repatriation tax" of up to 10% of accumulated profits of foreign subsidiaries of U.S. companies on the effective date of the proposal, payable over 10 years; and taxing future profits of foreign subsidiaries of U.S. companies each year as the profits are earned (i.e., ending the deferral of income taxes on corporate income earned in other countries).[58][59] Trump has also called for the repeal of the federal estate tax and gift taxes and for capping the deductibility of business interest expenses.[58][59]
Detailed analyses by both two nonpartisan tax research organizations, the conservative Tax Foundation and centrist Tax Policy Center, concluded that Trump's tax plan would "boost the after-tax incomes of the wealthiest households by an average of more than $1.3 million a year" and significantly lower taxes for the wealthy.[58][60] The Tax Policy Center "calculated the average tax cuts for the rich and the very rich" under Trump's plan as "$275,000 or 17.5 percent of after-tax income for the top 1 percent, and $1.3 million or nearly 19 percent for the top 0.1 percent (those making over $3.7 million)."[61]
An analysis by Citizens for Tax Justice found that under Trump's plan, the poorest 20% of Americans would see a tax cut averaging $250, middle-income Americans would see an tax cut averaging just over $2,500, and the best-off 1% of Americans would see a tax cut averaging over $227,000.[59] CTJ determined that 37% of Trump's proposed tax cuts would benefit the top 1%.[61]
Trump's claims that his tax plan would be "revenue neutral" have been rated "false" by PolitiFact, which found that "Free market-oriented and liberal groups alike say Trump's tax plan would lead to a $10 trillion revenue loss, even if it did create economic growth."[62] An analysis by the Tax Foundation indicated that Trump's tax proposal would increase economic growth by 11% and wages by 6.5%, and create 5.3 million jobs, while decreasing revenue by $10 trillion over a decade.[63]
https://en.wikipedia.org/wiki/Political_positions_of_Donald_Trump#Economic_polic...