Hillary ClinTax = Economy in Toilet

Hillary Clinton would raise taxes if she is elected president. Sharply...She says that she will “…let President Bush's tax cuts for top earners expire." ...this means that she will raise the top bracket (for those earning more than $200,000 a year) on income taxes from the 35 percent to which Bush cut it, to the 39.6 percent to which her husband raised it in 1993...

It also likely means increasing the tax on capital gains from the current 15 percent to at least 20 percent and probably to the 30 percent level backed by most liberals. Some even believe she may eliminate capital gains taxation entirely...

She certainly would repeal Bush's tax cut halving the tax rate on dividends and would raise it from its current 15 percent to 30 percent. She would also most likely end the planned elimination of the estate tax and probably reduce the size of estates subject to the tax....

She has specifically refused to rule out a big increase in Social Security (FICA) taxes...Hillary would...either raise the limit — at least doubling it — or eliminating it altogether. A self-employed American making $250,000 a year currently pays $12,125 in FICA taxes (12.5 percent x $97,000). If the threshold were eliminated, his FICA tax would jump to $31,250!

Congressman Charlie Rangel and Senator Chuck Schumer, both close Hillary allies...are paving the way by their proposed tax increases. The Schumer-Rangel bill was first, superficially, an attempt to repeal the Alternative Minimum Tax (AMT.)..Rangel's staff is "hard at work on an audacious plan that over the next decade would redistribute up to a trillion dollars in American income through the tax system."...she told a San Francisco audience in 2004: “We’re going to take things away from you on behalf of the common good.”