How Hillary Clinton and Donald Trump would tax the 1 percent, in one chart - Vox - 0 views
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How Hillary Clinton and Donald Trump would tax the 1 percent, in one chart
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there’s at least one issue on which Clinton likes to stress that Trump does in fact have a set policy: tax cuts for the super wealthy.
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There’s a certain irony to the discrepancy in the candidates’ plans: All of the evidence suggests Hillary Clinton is the candidate overwhelmingly preferred by the super wealthy.
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She is, for instance, the first Democratic nominee in more than 20 years to be leading among those making over $100,000, according to a Bloomberg News poll. She clobbered Trump among millionaires by 13 points in a CNBC poll. She also has a 20-to-1 fundraising edge among billionaires, and an even bigger one among top corporate earners.
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if we’re going by proposed tax policies alone, there really is no dispute about which candidate promises to most advance the interests of America’s 1 percent.
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As the graphic shows, Clinton’s plan would raise taxes for the top 1 percent — those making over $730,000 — by an average of $123,570 a year. That number is a little misleading —
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Overall, Clinton’s tax increases on the top 1 percent would increase revenue by somewhere in the order of $140 billion in 2017 alone. That money would then be funneled into an ambitious and extensive array of social welfare programs and other policy initiatives,
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Among them include raising capital gains taxes, imposing a 4 percent surcharge on incomes over $5 million, advancing a new tax for incomes that surpass $1 million
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Trump, meanwhile, would give the top 1 percent an extra cash cushion in the range of $162,000 a year.
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Goldwein’s analysis is based on one think tank’s estimate of incomes for 2017, though Trump’s plan is based on a different think tank’s estimate of incomes for 2016.