Her plan- won’t work

For all you voters who are supporting Clinton with hopes she will come to your aid; please think again. Her portrayal of helping the middle class while sticking it to the rich is a hoax!

If today you earn $0-$18,450 your rate is 10%, under Clinton you can earn $100 more at this rate. Thank you for the gift for those of us between $18,450 and $18,550. This trend continues up to $5MM with each rate remaining the same with slight differences in the bracket like in the example above. Those over $5MM move from 39.6% to 43.6%. Way to stick it to the rich HRC…

Today our capital gains tax rates are 20% (15% for long term gains- those investments held hillary2_1over a year). Under Clintons plan the rate begins at 39.6% for years 1-2, 35% 2-3, 32% 3-4, 28% 4-5, 24% 5-6 and long term which is all over 6 years 20%. But she also adds 4% surtax on amounts over $5MM. Example a family sells a stock they bought for an investment. Say they made $10,000 in the first year. Their tax goes from $2,000 to $3,960, or after three years from $1,500 to $3,200. This is a 51% and 47% increase in tax. I use small numbers intentionally. Think of real estate transactions with larger amounts or businesses with millions invested. What she fails to understand (I know-she has no business experience and is a career politician-not a good excuse) is that people and businesses prepare for expenses which include tax rates. There are only two things that will happen: 1- no one will sell until we correct the madness and 2- values will decrease. The market is changed negatively under her plan with wealth stifled at all levels. Candidate Clinton- tax receipts come from an upwardly mobile economy…

This may seem good to the naive, “Oh let’s raise taxes…we will get higher tax receipts,” but it doesn’t work! Know that whoever was thinking of selling with a tax cost of 20% will not entertain doing the same at 43.6% (an increase of a 218%)? People- either get selling assets now—just in case the madness carries out—or vote against this plan.

In case the above didn’t catch your attention: Let’s say you own a farm, your parents pass, and you with your siblings want to continue on with the family business. Today you can do so but with a tax obligation of 40% for value over $10.9MM. Under the fabulous Clinton plan designed to stick it to the rich while bringing new found wealth to the middle class, you will be asked to pay 45% at a lower threshold of $7MM. This family pays an additional $1,560,000 at the time a $10,9MM asset passes down to the children. Please, tell me how many farming families can afford this? All that is wanted is to continue the family business…

PS- the other team wants to end the death tax. Now that is what I call supporting the middle class…

(Fact check me please- I want a good debate)

Jaren

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