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Details and Analysis
of Hillary Clinton’s Tax Proposals
By Kyle Pomerleau and Michael Schuyler
Economist
Senior Fellow
Jan. 2016
No. 496
Key Findings:
· Hillary Clinton would enact a number of tax policies that would raise taxes on
individual and business income.
· Hillary Clinton’s plan would raise tax revenue by $498 billion over the next decade
on a static basis. However, the plan would end up collecting $191 billion over the
next decade when accounting for decreased economic output in the long run.
· A majority of the revenue raised by Clinton’s plan would come from a cap on
itemized deductions, the Buffett Rule, and a 4 percent surtax on taxpayers with
incomes over $5 million.
· Clinton’s proposals to alter the long-term capital gains rate schedule would
actually reduce revenue on both a static and dynamic basis due to increased
incentives to delay capital gains realizations.
· According to the Tax Foundation’s Taxes and Growth Model, the plan would
reduce GDP by 1 percent over the long-term due to slightly higher marginal tax
rates on capital and labor.
· On a static basis, the tax plan would lead to 0.7 percent lower after-tax income
for the top 10 percent of taxpayers and 1.7 percent lower income for the top 1
percent. When accounting for reduced GDP, after-tax incomes of all taxpayers
would fall by at least 0.9 percent.
2
Over the past few months, former Secretary of State and Senator Hillary Clinton has proposed
a number of new and expanded government progra