Hillary Wants More of Your Money

Taxesby Jon N. Hall    3/3/16
On March 3, CNBC.com ran “Top 1% would see $78,000 tax hike under Hillary” by Robert Frank. Mrs. Clinton seems to be trying to “out Bernie” Bernie Sanders; she’s now going all-out progressive:

The top 1 percent — those who earn more than $732,000 a year — would see their taxes increase by an average of $78,284 in 2017 if she’s elected and the tax plan is enacted.

The top 0.1 percent, or those with incomes of over $3.8 million, would see their taxes increase by an average of $519,741. The bottom 20 percent of earners, or those making $23,000 or less, would see their taxes go up by $4 a year in 2017. The middle quintile, or those making $80,000 to $142,000, would see their taxes go up by $44 a year. And the top 20 percent, who make $209,000 or more, would see an average tax hike of $4,527. (Clinton has said she plans to announce additional tax breaks of the middle class and lower earners.)

Additional tax breaks for the middle class? But the Middle Quintile had an average effective income tax rate in 2014 of 3.7 percent. Does Mrs. Clinton want the entire middle class taken off the personal income tax rolls?

Mr. Frank’s source is a Tax Policy Center study, but he provides no link. I believe the study is “An Analysis of Hillary Clinton’s Tax Proposals,” which also came out on the March 3. Under Clinton’s tax proposal, the study states: “Nearly all 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.”

It appears that Mrs. Clinton isn’t concerned about fixing the irregularities in the Tax Code where people with the same incomes have vastly different tax liabilities, she just wants more money. She’s concerned that those who are already paying for everything aren’t paying “their fair share.”

Mrs. Clinton’s tax proposals are so confiscatory for such a small group of people that if she is indicted and found guilty, she should be fined the entire contents of the Clinton Foundation. Call it poetic justice.



Jon N. Hall is a programmer/analyst from Kansas City. • (1013 views)

This entry was posted in Economics. Bookmark the permalink.

13 Responses to Hillary Wants More of Your Money

  1. Timothy Lane says:

    A friend once observed that “You can’t soak the rich, because they have umbrellas.” So the Fire Witch can call for confiscatory rates, and even get them if the Plunderbund takes over Congress, but the rich will have ways of evading them — if nothing else, by expatriating themselves. (This is like writers moving to Ireland because it doesn’t tax writing income — even socialist writers like Harry Harrison.)

  2. Brad Nelson Brad Nelson says:

    It’s crass to horde money. So we’ve all been taught. But to “share” what we own is now drummed into young skulls-full-of-mush as soon as they hit Kindergarten. No wonder the powers-that-be (including loads of Republicans) like the idea of “early childhood education” which not only appeals to women (“free” day care) but further forwards the cult of government, for “early childhood education” is “early childhood indoctrination.”

    If I believe in Jesus Christ then I am happy and pleased to see yet another church being built. I would want my kind to prosper. This also applies to those in and around government (the political class, government workers, and their clients). And those in government have tended to make it their life’s work. It’s their church.

    So everyone feels good that children are taught to “share.” It’s the earliest and perhaps most powerful indoctrination in socialism and the collectivist mindset. Of course, children do need to learn to share to a certain extent…by their parents. That is a different kind of lesson than the “sharing” lesson taught by the government.

    The human soul is a corrupt one. It specializes in deceiving itself about its own motives. So it’s no surprise that people who have made loads of money off the free market then turn around and talk about “shared sacrifice” and all the buzzwords of collectivism. They never expect this “sharing” to have anything but a token impact on them. And the positive impact they get (amongst their low-information compatriots) is immediate.

    And you can bet that most ignorant people out there with Bernie Sanders or Hillary signs on their lawn think that socialism will be a net benefit to them. It’s the other guy who will pay.

    And I see the same thing with Donald Trump. Fantasy far outpaces reality in terms of this man. It was humorous to hear the slightly sold-out Rush take a call from a Trump voter who wanted to comment on Cruz’s comment that Trump voters were generally less informed. She offered nothing but further evidence of not having much of a point.

    I think that Trump supporters are less informed is obviously so or else they’d vote for Cruz — if they really are for reform (Cruz is about the only man who has taken a stab at it, not just talked about it).

    Or, as I’ve blogged recently, it’s likely that many Trump supporters know exactly what they’re getting…lots of bluster, even a good show, while the status quo remains virtually the same. A lot of people have a lot invested in that status quo. Mark my words. The ability to self-deceive is enormous.

    • SkepticalCynic SkepticalCynic says:

      Brad, I am not much of a betting person but I would bet you a nice chicken meal at a BoJangles that two things will happen after the new president takes the oath of office. The first is that government will get bigger under his/her administration and the second is that our taxes will go up. If not directly, then indirectly by way of decreased deductions et cetera.

      Here is my take on this election cycle. Not one of the candidates that has run is fit to sit in the Oval office (be prez). As bad as the worst of them is, none of them is as bad the “Anointed One”, even that crook Hillary. At least she was born in America and has a legit birth certificate. Man, this country is deep do-do.

  3. SkepticalCynic SkepticalCynic says:

    It doesn’t make any difference how much more in taxes the Feds take. It is not enough and it will never be enough. Even if they take every single cent that is earned it would never be enough. The problem is not enough tax money, the problem is excessive spending, excessive government, poor prioritizing of spending and the ever increasing desire to micro manage all of our actions into their idea of proper behavior. As an example of micro managing, I have just heard that if a person has a private owned 100 lb. size propane tank that is over eight years old it will not be refilled. One must buy a new one. They are safety-ing us into bankruptcy. I am sure there are some that will read this and say it is for your own safety. Yes, but I am endangered daily when I drive on the highways. I am endangered when I climb on a ladder or walk d0wn steps. I don’t need help with these things. I need help from being taxed into oblivion. I DO understand that a certain amount of taxes is necessary to run a nation but there is no limit to the amount that can be taken and no limit in the things government would like to do FOR us. Taxation is a nice word for extortion.

  4. David Ray says:

    Yep. Hillary is trying to “out Bernie” that fool Sanders.
    What bothers me about Trump is that he also pulled that “out Bernie” crap in New Hampshire.

  5. Kung Fu Zu Kung Fu Zu says:

    A head-of-state confirms that Hillary Clinton pressured her to help a Clinton Foundation donor.


    The cracks in the dam are beginning to appear.

    • Timothy Lane says:

      We can yet hope that she’ll get to model an orange pantsuit, even if only for a short while.

    • Brad Nelson Brad Nelson says:

      I hope Trump does “lock her up.” But that doesn’t seem as if it will ever happen. In some respects, you don’t lock up a member of your own club.

  6. pst4usa says:

    For this post I will be playing the role of a Trump-bot.
    Breaking News… President Trump gives a blanket pardon to Bill and Hillary Clinton for any crimes they may have committed or may ever commit!… (Sane person says, that sucks! Are we no longer a nation of laws?).. Now for the response… When will all you haters learn that Trump is dozens of moves ahead? Brilliant move by the master strategist! He is playing chess while the rest of us are playing checkers. (And coming soon to an excuse near you), We all know it’s Bush’s fault anyway. And this is just getting ready to drain the swamp!

    • Timothy Lane says:

      Fortunately, as far as I know, that breaking news isn’t yet true. But I wouldn’t rule out its happening at some point, either.

    • Brad Nelson Brad Nelson says:

      I read that Steven Colbert’s audience cheered when they heard that Comey had been fired. Colbert was surprised but apparently when the crowd knew they were supposed to be displeased, they finally booed.

      I’m not sure what I think about it. But chaos is going to follow Trump. The man’s one talent seems to be appointing judges from what I’ve read. Comey’s problem may have been that he failed to plant his nose firmly up Trump’s backside.

      • Timothy Lane says:

        Colbert’s response to the cheering was to suggest that there were a bunch of Trump fans in his audience — a totally laughable idea. The firing of Comey, who bungled the Slick Hilly investigation (or didn’t discipline those who bungled it) was overdue. It won’t have any effect on the chimerical investigation into possible collusion with Russia, which Comey wasn’t personally conducting. Note that the acting director is a Democrat. In this case, the chaos mainly results from reflexive liberal hatred of Trump, though he certainly could have handled the matter better.

Leave a Reply

Your email address will not be published. Required fields are marked *