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eridani

(51,907 posts)
Sun Mar 13, 2016, 06:29 AM Mar 2016

Hillary vs. Bernie vs. the 1 Percent

Tax plan comparison

https://ourfuture.org/20160308/hillary-vs-bernie-vs-the-1-percent

The Tax Policy Center analysis brings into the mix all federal taxes. In other words, we’re taking not just federal income taxes here, but payroll taxes for Social Security and Medicare and federal estate and excise taxes as well.

For the top 1 percent — Americans with over $732,323 in income — the changes the Clinton campaign has proposed would shrink after-tax incomes an average 5 percent, an estimated $78,284 in 2017.

For the richest of America’s rich, the top 0.1 percent, the Clinton haircut would go a little closer. Taxpayers reporting over $3,769,396 in income would see their after-tax incomes drop by 7.6 percent, on average $519,741.

Under the Sanders plan, top 1 percent after-tax income would plummet 33.5 percent, a sink over six times steeper than the 5 percent dropoff in top 1 percent after-tax incomes under the Clinton plan. Sanders’ proposal would shear average top 1 percent incomes by $525,365 in 2017.

And the top 0.1 percent? America’s richest 116,000 taxpayers would see their after-tax incomes fall 44.8 percent, or $3,081,986, under the Sanders plan.

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