Hillary Clinton is your typical, elitist progressive. She rails against “the 1%” and demonizes CEOs while making millions from speeches due to connections with her Clinton Crime Family Foundation. She pushes the notion of “income inequality” while accusing those who have risked all in building a business, and pay more taxes collectively than most, of “not paying their fair share.”
Simultaneously, she promises that the weight of the government will fall on corporations, businesses, and the wealthy to make them pay even more in taxes while claiming that jobs will soar under a Hillary Clinton presidency. But a new study by the non-partisan think tank, The Tax Foundation, reveals that Hillary’s tax plan would actually be extremely detrimental to American jobs and, therefore, American workers.
The Tax Foundation, a nonpartisan think tank in Washington, published a score of Clinton’s plans for tax policy that found that it would would raise taxes by $1.4 trillion over the next 10 years, under a static analysis that assumes nothing else changes. That revenue would come from new taxes on high earners, a higher tax rate on multi-million dollar incomes, and new estate taxes.
But because those tax hikes would decrease the incentives to work, invest, and save, the group found, the Democrat’s tax proposals would slow economic growth.
The direct result of Hillary Clinton’s tax plan would be a reduction of 700,000 jobs, at minimum, and a reduction in wages by 2%.
While The Tax Foundation says that Hillary would accomplish her goal of targeting the “rich” by reducing the after-tax income of the top 1 percent by 7 percent and give slight gains to those in middle income tax brackets, this would come at a price that everyone would have to pay. These higher taxes on the “rich” would slow commerce which would negatively impact the lives of all.