Hillary Clinton (Tax Reform)

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Clinton's Tax Reform (section page):

  • Raise the minimum wage and figure out how to make the tax system a fairer one. Right now, the wealthy pay too little and the middle class pays too much. (DD1)
  • Income Tax: Rates on Ordinary Income -- Adds a 4% surtax on income over $5 million.(TF)
  • Income Tax: Itemized Deductions -- Caps the tax benefit of itemized deductions at 28% of the deduction.(TF)
  • Income Tax: Credits -- Makes the American Opportunity Tax Credit permanent.(TF)
  • Income Tax: Alternative Minimum Tax -- Creates a new minimum 30 percent rate on individuals earning over $1 million.(TF)
  • Income Tax: Rates on Capital Gains and Dividends -- Adds a 4% surtax on income over $5 million. Raises rates on medium-term capital gains (investments held for less than six years) to between 24% and 39.6%.(TF)
  • Corporate Income Tax: International Income -- Strengthens rules preventing inversions. Imposes an "exit tax" on unrepatriated earnings of U.S. firms going through inversions.(TF)
  • Estate Tax -- Increases the top estate tax rate to 45%, and lowers the estate tax exclusion to $3.5 million.(TF)
  • Other Taxes -- Establishes business tax credits for profit-sharing and apprenticeships. Taxes carried interest at ordinary income rates. Establishes a tax on high-frequency financial transactions.(TF)