Naomi Jagoda writes: \u00a0Democratic presidential candidate Hillary Clinton called for an additional 4 percent tax on people making more than $5 million per year. \u00a0Clinton called the tax a \u201cfair share surcharge\u201d that would make sure wealthier taxpayers pay higher tax rates.<\/p>\n
\u201cThis surcharge is a direct way to ensure that effective rates rise for taxpayers who are avoiding paying their fair share, and that the richest Americans pay an effective rate higher than middle-class families,\u201d a Clinton campaign aide said.<\/p>\n
The surcharge would raise more than $150 billion over 10 years. \u00a0It is part of Clinton’s plan to build on the principle of the “Buffett Rule” to raise the effective tax rates of the rich.<\/p>\n
The Buffett Rule, named after philanthropist billionaire Warren Buffett, would ensure that those making more than $1 million pay at least 30 percent of their incomes in taxes.<\/p>\n
Clinton intends to release more proposals that would increase the amount of taxes paid by the wealthy later this week, the aide said.<\/p>\n
The former secretary of State also plans to release more proposals that would provide tax relief to the middle class. She has already proposed tax credits for excessive healthcare costs and for family members caring for ailing parents and grandparents.<\/p>\n
The campaign of Sen. Bernie Sanders (I-Vt.), Clinton’s main rival for the Democratic presidential nomination, criticized the proposal. as “too little too late.”<\/p>\n
Without defining surcharge, and without suggesting a fair tax overhaul, Clinton’s proposal may be meaningless. \u00a0Let the dialogue begin, for instance, on whether the first $50,000 of every American’s income go free of tax. \u00a0Donald Trump has suggested this.<\/p>\n
Naomi Jagoda writes: \u00a0Democratic presidential candidate Hillary Clinton called for an additional 4 percent tax on people making more than $5 million per year. \u00a0Clinton called the tax a \u201cfair share surcharge\u201d that would make sure wealthier taxpayers pay higher … Continue reading ![\"Tax\"](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/10\/Tax.png\")
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