Politics

Clinton: Trump's Tax Plan Will Help Only Billionaires

| by Ray Brown

Democratic presidential front-runner Hillary Clinton criticized presumptive Republican nominee Donald Trump's tax agenda as a plan "written by a billionaire for billionaires" that will hurt middle class workers.

Speaking in Blackwood, NJ, Clinton claimed that Trump would add trillions to the debt and cut taxes for people earning more than $1 million a year, according to the Minneapolis Star-Tribune.

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It turns out President Trump's budget has $2 trillion error in it:

“He literally wants to spend more on the top one-tenth of one percent of earners than the bottom 60 percent of earners in our country combined,” Clinton said, according to ABC News.

Trump's plan calls for eliminating taxes for individuals making less than $25,000 per year and married couples making less than $50,000 per year. The plan also calls for reducing the number of income tax brackets to four, as opposed to the current seven, with a maximum of 25 percent taxation, as opposed to the current 39.6 percent.

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It turns out President Trump's budget has $2 trillion error in it:

Clinton's tax plan would raise taxes for the top 1 percent, according to the Tax Policy Center, but the bottom 95 percent of taxpayers would see little or no change in their taxes.

Regarding Clinton's plan, the Tax Policy Center writes, "Marginal tax rates would increase, reducing incentives to work, save, and invest, and the tax code would become more complex."

Clinton is still battling Sen. Bernie Sanders of Vermont for the Democratic Party nomination and lost West Virginia in a landslide. But political observers consider her delegate lead over Sanders to be insurmountable, allowing her to focus more on attacking Trump, who has all but wrapped up the Republican nomination after his last two opponents, Republican Sen. Ted Cruz of Texas and Republican Gov. John Kasich of Ohio, dropped out of the primary.

Clinton's attacks on Trump have included accusations of sexism, as well as untrustworthiness due to his refusal to release his tax returns.

“What about his taxes?” she asked. "When you run for president -- especially when you become the nominee -- that is kind of expected. My husband and I have released 33 years of tax returns. We got eight years on our website right now. So you got to ask yourself why doesn't he want to release them?” 

Sources: Minneapolis Sar-Tribune, ABC News, Tax Policy Center, Donald Trump Campaign Website / Photo credit: Gage Skidmore/Flickr

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