On tax policy, who’s the real fiscal conservative?

Let’s cleanse our minds of Trumpian genitalia and elevate the political discourse a bit by talking actual policy, shall we?

More specifically, let’s take a look at the tax proposal recently released by the Hillary Clinton campaign, as analyzed by the nonpartisan Tax Policy Foundation.

The plan begins to put Clinton’s campaign rhetoric into actual form. For example, it eliminates the ridiculous “carried interest” loophole that allows hedge-fund operators to pay half as much in taxes on their income as they anybody else would pay for earned income. It would also change the laws to discourage the “foreign inversion” tax dodge that allows major U.S. companies to claim that they have been taken over by a much smaller foreign company, and thus escape U.S. taxes based on little more than corporate fiction.

Capital gains on investments held less than two years would be taxed as ordinary income, on the grounds that such short-term investments are more speculation than actual economy-building investment. The Clinton plan would impose a 4 percent surcharge on adjusted gross income over $5 million, and impose a minimum tax of 30 percent on incomes of more than $1 million, to ensure that the Mitt Romneys and Donald Trumps aren’t paying a lower overall tax rate than their secretaries and chauffeurs.

The TPI estimates that in total, the Clinton tax plan would reduce the debt by $1.2 trillion over the next decade, and by additional $2.1 trillion from 2026-2035. Its report states:

“Overall, from 2016 to 2036, Clinton’s tax proposals — not counting the effect of new spending initiatives, additional tax changes, or any macroeconomic feedback effects — would decrease the federal debt by $4.3 trillion, or 10 percent of GDP in 2036 … Clinton’s proposals would increase taxes on the highest-income filers and have little effect on those with less than about $300,000 in income. Overall, filers in the top quintile would bear 94 percent of the net tax increase. More than half of the tax increase would fall on the highest-income 0.1 percent of filers and more than three-fourths would hit the top 1 percent.”

As it happens, the TPI has also analyzed the tax plans offered by Donald Trump, Marco Rubio and Ted Cruz, and the comparison is instructive. Clinton targets the very wealthy for additional contributions to the country that has made their wealth possible, while all three Republicans propose major tax cuts targeted at those very same people.

Not surprisingly, massive tax cuts targeted at the already wealthy would have a very different impact on our national debt than would the Clinton plan:

debttax

So: Who’s the most fiscally responsible candidate of the four?

Reader Comments 0

1910 comments
breckenridge
breckenridge

Starbucks? I tried some of their frappa-crappa once, and only once.  I'm a coffee drinker, and it has nothing to do with coffee.  Tastes some damn sugary kids drink.  Horrible stuff, just awful.

Kamchak
Kamchak

@rimsky 

It's a medium roast they offer, and I really can't stand that dark roast burnt crap they usually sell, besides roasting the beans longer destroys some of the caffeine.

Visual_Cortex
Visual_Cortex

@Kamchak @breckenridge

Trader Joe's has a boatload of great fair-trade, whole-bean coffee to choose from.

If you'd rather mail-order, these folks are a fine choice.

http://justcoffee.coop/

but on the go? again, if it's just me I'm not real picky, Dunkin', McD's, etc. is fine as a caffeine delivery system.

Kamchak
Kamchak

CONFEDERATED SONS OF VETERANS !

breckenridge
breckenridge

On Saturday, pastor Tim Remington put his arm around Ted Cruz and then delivered a rousing invocation at a campaign rally in Coeur d’Alene, Idaho.

Now Remington is on the receiving end of prayers after being shot in the skull and back after his Sunday sermon.

Hmm. Supporting Ted Cruz can be hazardous to your health.

Visual_Cortex
Visual_Cortex

Blame Newt sheetz? 404'd a second ago, but be ready...

YouLibs
YouLibs

@Eye wonder @Visual_Cortex


I have always blamed Newt and Lee At water for starting us down the road of incivility we find ourselves travelling today.

YouLibs
YouLibs

@Eye wonder @Visual_Cortex


h/t to Kamchak for explaining why that got eaten the first time I tried to post it.

Eye wonder
Eye wonder

@YouLibs @Eye wonder @Visual_Cortex

I don't blame Reagan for incivility. By all accounts, he was a decent man. But I do blame him for the anti-government ideology that has gripped the GOP and is destroying it and us.


"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'"

-Saint Reagan

Cupofjoe
Cupofjoe

"replacement of a lost textile business to overseas concerns"


Said another way handed overseas on a silver platter- textiles, auto,  steel, etc.  

Kamchak
Kamchak

Real men don't go to Starbuck's?

Where exactly do real men go?

Dweeby's Bar and Shrills?

PaulinNH
PaulinNH

@Kamchak  If they live within a 100 mile radius of Boston they go to Dunkin Donuts - there is one on every corner.

breckenridge
breckenridge

I watched a few minutes of the debate last night.  B Sanders comes across as completely authentic.  H Clinton comes across as entirely phony.

Nick_Danger
Nick_Danger

@breckenridge 

We still don't know where they stand upon the Republican's most important issue:  Trump's penis.

td1234
td1234

"Saturday in Maryland at the annual Conservative Political Action Conference (CPAC ) held by the American Conservative Union, during a panel titled, “The Seven Deadly Sins of Hillary Clinton,” with moderator Charlie Kirk and co-panelist Tom Fitton of Judicial Watch, Breitbart News editor Alexander Marlow said former President Bill Clinton and his wife, Democratic presidential front-runner Hillary Clinton have a “serial dishonesty,” which he argued is the “danger of putting them back in the White House.”

Discussing the Clinton Foundation, Marlow said, “A key to the connective tissue with all of the Clintons — everything they do — and we will talk about this probably in just about all the deadly sins we touch on— is their serial dishonesty. And we can focus on this later. But she did swear that she would disclose all the contributions to the Clinton Foundation. As of now —and again another right wing outlet, “The Washington Post,”  says that 1100 donations are so far not disclosed. This is a woman who thinks of the truth as anything that is politically expedient for her . And her husband is the same way. And that is the danger of putting them back in the White House.”

Visual_Cortex
Visual_Cortex

the annual Conservative Political Action Conference (CPAC )

Is that still a thing?

td1234
td1234

@Visual_Cortex Why, yes, it is still the largest political event for either party each and every year. 

Eye wonder
Eye wonder

@td1234 @Visual_Cortex

And yet the de facto leader of the Republican party decided to skip it, and then attended a golf tournament the next day. Looks like CPAC is losing its con luster. LOL

honested
honested

@td1234 

Now that the great cpac waste of time is over, what difference will it make in the national discourse?

Visual_Cortex
Visual_Cortex

@td1234

Breitbart News editor 

Someone actually edits the untreated sewage there?

St Simons he-ne-ha
St Simons he-ne-ha

This Springer show isn't even about the presidency any more. They gave up on that.

This is all hands on deck, throw in the kitchen sink to try to save the senate. If they lose the senate, they're done.

They have no shot at any Executive responsibility. But...

If they broker a convention, and come out with 2 candidates - Cruz (Republican party) AND Trump (call them the Donner party) - they get shellacked for the prez race, but they drag in all their voters for the down-tickets (i.e. Senate) races.

their last hail mary, or maybe 'hail darwin' before they go out.  

Kamchak
Kamchak

Bernie is a socialist?

ROFLMAO!

Kamchak
Kamchak

@Nick_Danger 

Our boy td also stated there were 6000 dfcs CASEWORKERS in Georgia.

At this point it's best to believe the opposite of everything he posts.

Kamchak
Kamchak

@td1234 

Get on board or get out of the way because the train is about to leave the tracks (period).

td1234
td1234

@PaulinNH Anytime you get further away from capitalism and get towards centralized government control of the economy then it is evil (period). 

honested
honested

@td1234 @PaulinNH 

How is 'concentration of wealth' = good...

While 'meeting the needs of citizens' = evil?

Where do you get that crap?