Hillary Clinton is trying to fool the American people into believing that she wants a tax code which helps the middle class. Her record says otherwise.
Indeed, her pro-tax bias explains the F she received from the taxpayers’ advocacy group, the National Taxpayers’ Union, for her votes in 2006 against lessening or limiting the burden on taxpayers. But that is only the tip of the iceberg. While she goes around the country mouthing support for fairer taxes with more of the tax burden shifted to the wealthiest taxpayers, some of her closest advisors are hatching proposals for broad tax increases that will heavily burden the middle class.
The Center for American Progress, a leftwing think-tank founded and still dominated by Clintonistas, has been described as “a kind of Clinton White-House-in-exile—or a White House staff in readiness for President Hillary Clinton.”
This ‘White House staff in readiness’ has been busy cooking up new tax schemes in the mold of the stifling taxes imposed by the typical European welfare state. For example, in addition to the usual calls for rolling back the highly successful Bush tax cuts, the Center’s manifesto, entitled New Challenges, New Ideas, has called for a new value-added tax to subsidize its socialist health plan. This will be round two of Hillary-care.
Value added taxes paid by the end-users of products are regressive, akin to a new sales tax. This tax will be added on top of all the other taxes already burdening the American taxpayer. The middle and lower economic strata of the population will feel the pinch far more than the rich in paying for Hillary-care.
What’s more, Hillary’s brain-trust at the Center for American Progress wants to tax all capital gains and dividends at the same level as ordinary income. They are not talking only about increasing the taxes of hedge fund and private equity managers, who have attracted unfavorable press and congressional attention recently. They mean the complete elimination of lower taxes for capital gains from the sale of any asset, including stocks owned by the average American household. The bull stock market, which has seen records being broken to the benefit of the half of all American households who hold equities, will turn into a bear market faster than Hillary can take her Presidential oath of office.
Hillary has already signaled her agreement with this idea by voting to repeal the extension of the current lower tax rates for capital gains and dividends.
That’s just the beginning of new taxes for virtually everyone during the next Clinton Administration.
Even before Hillary finishes her second term as President, her advisors would have American taxpayers pay a fixed 0.7 percent of our Gross National Income toward global funding of the United Nations’ Millennium Development Goals. This means that the United States alone would have to pay nearly $140 billion per year for development assistance, to be administered by the United Nations.
In case you are wondering where the funding of this massive increase in foreign aid will come from, Hillary Clinton’s advisors have an answer - a new carbon tax. The Center for American Progress’ tax ‘expert’ recommended this tax as one alternative to raise as much as $100 billion dollars a year in new ‘green’ revenue. He wrote that “[W]hat Congress has to realize is that we need more “good” taxes and fewer “bad” taxes.
Except in the minds of those hardcore income redistributionists who think they know better how to spend our money than we do ourselves, how can any tax be described as “good”?
The idea of a global carbon tax as a “good” tax is nothing new to the Clinton insiders who believe in income redistribution. It was supported years ago by none other than former Clinton Treasury Secretary Robert Rubin, now a leading behind-the-scenes economic advisor to Hillary Clinton. He was a member of the “High-Level Panel on Financing for Development,” commissioned by former U.N. Secretary-General Kofi Annan, and signed on to its report proposing an “International Tax Organization” as well as praising the idea of a global carbon tax.
This massive transfer of wealth from the pockets of American taxpayers to the underdeveloped world – including countries with atrocious records of corruption - will provide permanent full-employment for unaccountable U.N. bureaucrats. Does it make any sense at all to trust the U.N. with our money to run such an ambitious program after its mismanagement and pilfering of the oil-for-food program? Apparently it makes complete sense to Hillary’s brain-trust.
Of course, Hillary’s closest advisor of all is her husband. It will be two for the price of one again in the White House, if she is elected President. Hillary has already talked about appointing Bill as some sort of ambassador to the world. He is getting ready for this role by endorsing yet another global initiative, the International Drug Purchase Facility, which is to be funded by another of those “good” taxes - an international solidarity airline tax.
New spending programs requiring new taxes do not stop there. In addition to trying to revive her failed national health policy, Hillary has ambitious ideas about substantially increasing funding for global education once she takes the reins of power. Expect another expensive flop.
When Hillary was put in charge of educational reform during her husband’s term as governor of Arkansas, the state’s sales tax went up along with teachers’ pay while educational standards barely budged. To make themselves look good politically, the Clinton team made sure that teachers’ test results were manipulated to make it look like more teachers passed the standard competency test than actually did.
Ignoring her dismal performance on education during her Arkansas days, Hillary wants to expose the nation to the same follies if she is elected President. Her only solution is to throw more good money after bad to make cosmetic changes in the public schools. And she is reportedly considering a special new tax on one of Americans’ favorite past times – video games – to pay for child advocacy programs.
Meanwhile, Hillary told delegates at this year’s National Education Association union convention that she opposes, “with every breath in my body”, the truly innovative idea of enabling children to gain access to better quality education through a voucher system.
Hillary also believes that “religious schools should not be the recipients of American tax dollars” anywhere in the world – whether here in the United States to provide children with a competitive alternative to failing public schools or to counter the hate being taught in extremist Islamic madrassahs abroad.
Higher taxes are wired into Hillary Clinton’s DNA. “Tax cuts are not the cure-all for everything that ails the American economy,” Hillary declared in a speech about a year ago before the Chicago Economic Club. Instead, she argued for what she called euphemistically the “right tax system [and] the right investment, including infrastructure. . . . decisions and policies that only all of us acting together through our government can make to set the stage for future prosperity.” (Emphasis added)
More recently, during one of this year’s Democratic Presidential debates, Hillary came right out and equated higher taxes with patriotism.
As President, Hillary will use the tax code to punish success rather than reward it. She has a basic distrust of free market capitalism and consumer choice, believing that big government knows what is best for all of us – whether in health care, education or even the video games we buy. She would rather fund new U.N. global wealth redistribution programs with our tax money than let us keep more of the money we earn from work and investment for ourselves, our families and our own choice of philanthropic causes. She has surrounded herself with advisors of like mind.
If Hillary becomes our next President, we will all pay the horrible price of enormous new taxes to feed her pied piper of omnificent government.