Based on her campaign’s own figures, President Hillary will raise our taxes by a mind-boggling $1 trillion, at least, over the next 10 years.
If you think the $1 trillion in new taxes will come from “the rich” alone, then you’re living in Lala Land.
On July 24, 2016, interviewed on CBS’s 60 Minutes, correspondent Scott Pelley asked Hillary Clinton about her planned tax increases: “Who gets a tax increase? Who gets a tax cut?”
Hillary replied: “The middle class will not get a tax increase. That has been my pledge.”
When asked what “middle class” means, Hillary unambiguously replied, “Well, we say below $250,000.”
But her “rock-solid” pledge not to raise taxes on middle-class Americans is a lie, because Hillary already has endorsed the following tax increases on not just middle income, but all Americans:
1) Payroll tax hike
On January 11, 2016, during the Brown & Black Democratic Presidential Forum at Drake University in Des Moines, Iowa, referring to a plan called the FAMILY Act, which calls for a payroll tax increase on all Americans with wages of $113,700 and more, moderator Alicia Melendez pointedly asked Hillary if a payroll tax “were to reach your desk as President, would you veto it in order to make good on your tax pledge?” Hillary answered: “No. No.”
A video of Hillary’s tax hike admission can be viewed here. The relevant portion begins at 1:47:00.
Hillary’s refusal to veto a payroll tax is consistent with her admission on ABC’s This Week with George Stephanopoulos on December 6, 2015, that her promise of “no tax increases at all on anyone earning $250,000” is merely a “goal”.
2) $350 Billion Income Tax increase
To pay for her proposed $350 billion New College Compact — of greatly-reduced costs for all students who attend a 4-year public state college, and free tuition for community college students — Hillary proposes a $350 billion 10-year income tax hike in the form of a 28% cap on itemized deductions.
3) Soda tax
Most, if not all, Americans drink soda.
On April 20, 2016, despite her “rock-solid” pledge to the American people that she will not raise taxes on anyone earning less than $250,000, speaking in Philadelphia, Hillary said she is “very supportive” of a soda tax: “I’m very supportive of the mayor’s proposal to tax soda to get universal preschool for kids. I mean, we need universal preschool, and if that’s a way to do it, that’s how we should do it.”
The tax would be three cents per ounce of soda, which means 36 cents for the standard 12-oz. can of soda pop.
Hillary’s official campaign plan also calls for universal preschool for the entire country, which of course will have to be paid for — with higher taxes.
Hillary’s endorsement of a soda tax led her then-opponent Bernie Sanders to call it a regressive tax that would mainly hit low-income Americans. As reported by NBC News and The Daily Caller’s Chuck Ross, Sanders said:
“Frankly, I am very surprised that Secretary Clinton would support this regressive tax after pledging not to raise taxes on anyone making less than $250,000. This proposal clearly violates her pledge.”
“The mechanism here is fairly regressive. And that is, it will be increasing taxes on low income and working people.”
4) 25% national gun tax
In October 2015, NBC News reported that a study found that a third of Americans said they owned at least one gun. According to the Census Bureau, the U.S. population on January 1, 2015, was 320.09 million, which means as many as 106.7 million Americans owned a gun. That number is probably larger because when asked by a polling group, Americans likely would deny they have one instead of lie that they own gun(s).
On Sept. 30, 1993, in a passionate Senate testimony, calling gun owners and dealers “purveyors of violence,” Hillary Clinton endorsed a new national 25% retail sales tax on guns and $2,500 license fees for gun dealers, saying “I am speaking personally, but I feel very strongly about that.”
5) Carbon Tax
The 2016 Democrat Party platform endorses a carbon tax because “Democrats believe that carbon dioxide, methane, and other greenhouse gases should be priced to reflect their negative externalities, and to accelerate the transition to a clean economy and help meet out climate goals.”
Consistent with her party’s platform, Hillary’s campaign manager John Podesta recently said she would be open to a carbon tax. As reported by Politico Pro, Podesta told reporters, after speaking at an event hosted by green groups: “Right now we’ve not proposed a carbon tax. We believe we can get the job done. But if Congress wants to come forward with one, we’ll take a look at it.”
For that matter, in June 2015, Hillary’s bud, Sen. Chuck Schumer (D-NY) said that a Hillary victory in 2016 could pave the way for a carbon tax: “There’s one sort of [value-added tax] Democrats might be for — and that’s a carbon tax. So you might get a compromise along those lines.”
6) Other Taxes
$275 billion business tax increase through undefined business tax reform, as described in a Clinton campaigndocument.
$400 billion “Fairness” tax increase:According to her published plan, Hillary calls 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,” the taxing of carried interest capital gains as ordinary income, and a hike in the Death Tax.
Capital Gains Tax Increase: Hillary has proposed an increase in the capital gains tax to counter the “tyranny of today’s earnings report.” Her plan calls for a byzantine capital gains tax regime with six rates. Her campaign has not put a dollar amount on this tax increase.
Tax on Stock Trading: Hillary has also proposed a new tax on stock trading, which will be borne by millions of American families who have 401(k)s, IRAs and other savings accounts. Again, no dollar figure for this tax hike has been released by the Clinton campaign.
Exit Tax: Hillary has proposed what she calls an “exit tax” on income earned overseas, which would raise $80 billion in tax revenue.
Hillary’s running-mate, Tim Kaine, is also dedicated to tax hikes. See: