Last week, I noted that Ted Cruz has a long way to go to come up with something resembling a usable tax plan. Compared to Hillary Clinton’s tax plan, though, his is a well-established masterpiece.
From what I could find, Hillary Clinton’s presidential tax plan boils down to a couple of vague platitudes about helping the middle class. The most concrete item (during this election season, at least) is that “there is something wrong when hedge fund managers pay lower tax rates than nurses or the truckers that I saw on I-80.”
Sounds like a perfectly typical boilerplate liberal response.
Also, it’s only theoretically true, since a Married Filing Jointly couple would have to be making well over $75k to be paying a higher marginal rate (to talk noting of effective rates) than these vilified hedge fund managers, which really isn’t a bad salary for most places along the I-80 stretch.
But that’s an issue for another time. We’re talking about Hillary Clinton’s tax plan.
According to this website, most of Hillary Clinton’s 2008 tax plan has already been implemented, including raising the capital gains rate, raising taxes of those making over $250,000, and dealing with AMT. Yes, there’s a few items that haven’t been touched, but they’re niche pieces (an increased child tax credit for the first year only? Really? Because kids stop costing more money after year one?). So we can’t use the specifics of what she’s said in the past to predict too much into what she’ll do in the future.
Her husband has fairly recently indicated that he supports lower corporate tax rates, which both parties theoretically support. Whether or not that translates to Hillary Clinton’s tax platform, I don’t know.
Probably the most telling piece I’ve seen is that Citizens for Tax Justice (CTJ), a left wing think tank, rated her as 80% in “favors progressive taxation.” So whatever “progressive taxation” means today, she likely supports it.
Politically speaking, the chances that we’ll get anything more firm than this from Hillary Clinton are low, at least until she’s seriously challenged, either in the Democratic Primaries or the General Election. She’s trying to pick up progressive votes right now, so she’s doing her best impression of a Rorschach image, allowing progressives to pin on her their own tax beliefs.
I mean, she was rated 80% progressive from the CTJ, so if you’re progressive, of course she supports your ideas. Right?
Politically savvy? Definitely. Annoying for those of us trying to figure out what she’d actually do if she were elected president? Most certainly.
Assuming some other Democrat doesn’t rise out of the ashes to overtake the Clinton Machine, I’ll revisit Hillary Clinton’s tax plan closer to the General Election, after it had becomes more of a political necessity to reveal what she’s actually planning to do.
(Header Image by the Bureau of IIP)