Let’s Talk Hillary’s Tax Proposals

Let’s Talk Hillary’s Tax Proposals – The Burning Platform

Guest Post by Karl Denninger

Let’s talk about taxes for a minute.

All of these are from Hillary’s own words (either verbally or in writing from her campaign) – and remember, Hillary has stated she will not tax “the middle class” (and, presumably, the working poor or less-well off.)

She’s lying.

• Payroll tax increase.  Hillary has explicitly said she would not veto such a hike.  Let me remind you that the Payroll tax hits everyone from the first dollar of earned income and is not deductible or offsettable, ever.  In addition because people in the lower and middle economic classes have a lower percentage of disposable income (after mandatory expenses) payroll taxes hit them extremely hard vis-a-vis income tax which is subject to bracketing and deductions.  The “payroll tax”, in case you’re unaware, is comprised of Social Security and Medicare.  This statement came during the primary campaign during a debate with Sanders and since Hillary has explicitly refused to do anything about medical providers and their monopolies payroll taxes will have to rise by over $500 billion within the next four years to prevent ruinous deficits.  In other words under a Hillary administration this tax is coming like in an inbound ICBM!

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