Clinton to propose four percent income-tax 'surcharge' on wealthy

[Eugene]

Source: Reuters

Politics | Mon Jan 11, 2016 3:38pm EST

Clinton to propose four percent income-tax 'surcharge' on wealthy

WASHINGTON | BY AMANDA BECKER

U.S. Democratic presidential candidate Hillary Clinton is calling for a 4 percent "surcharge" income tax on people earning more than $5 million annually, a Clinton aide said on Monday.

The so-called "Fair Share Surcharge" would be imposed on the two out of every 10,000 taxpayers who make more than $5 million a year and is expected to raise $150 billion over a decade, the aide said.

Clinton was joined on the campaign trail last month by billionaire investor Warren Buffet, who has been an outspoken critic of tax policies he says allow him to pay a lower tax rate than his secretary.

Clinton said she would announce her plans to go even farther than the "Buffet rule," which would establish a minimum tax rate of 30 percent on those earning more than $1 million per year. The income-tax surcharge is the first part of her push, with more tax policies to be released later this week, a campaign aide said.

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Read more: http://www.reuters.com/article/us-usa-election-clinton-idUSKCN0UP26H20160111

[sonofspy777]

1. Sure this isn't the Onion?

30%

Let's go back to Eisenhower

That would be 90%

eom

[snoringvoter]

2. First, Clinton must corral all of the tax evaders...

How is she going to do that?

Knowing her history, I don't trust her to implement her tax successfully.

[in_cog_ni_to]

3. On people making more than $5 MILLION???

And she went to IOWA to announce it?

Okay then....

PEACE
LOVE
BERNIE

[JudyM]

4. Has to be a response to Bernie's platform. More of this, please, Hillary. Nt

[TheFarS1de]

5. This will reel them in ...

except with all the loopholes available to those people earning those amounts it will be pointless . To little too late .

[GummyBearz]

6. Lets talk about the fact that taxing rich people wont do as much as taxing rich corporations

Taxing rich people does little compared to taxing rich corporations. Google, paid 2.4% tax last year, under the double Irish rule, moving money over seas and constantly shifting it around. We are letting things like that drive the country broke, and then taxing individuals more to make up for a small part of it.