Great news! Hillary Clinton's tax plan is going to raise an additional trillion dollars! Just think of all the good things government will be able to accomplish with that money. At last we'll be able to fully understand the relationship between glaciers and gender roles. Whew, what a relief!
If Hillary gets her way, she's ready to dish out a big helping of tax "fairness." As everyone knows, tax increases have historically stalled America's economic growth engine, bringing the economy to a grinding halt.
Now here comes the fun part and Glenn's favorite component of Hillary's tax plan.
Listen to this segment from The Glenn Beck Program:
"According to her published plan, Clinton has called for a tax increase of between $400 and $500 billion by restoring basic fairness to our tax code," Glenn said.
These "fairness" proposals include:
- a fair share surcharge
- taxing the carried interest capital gains as ordinary income
- raising the exit tax, known as the "death tax"
- and more!
"Clinton has also proposed several tax increases --- not included in the tally above --- because her campaign has failed to release specific details on many of her proposals," Glenn said. "The true figure is likely to be much, much higher than $1 trillion."
Ted Cruz, on the other hand, has a simple, 10 percent flat tax plan designed to stimulate the economy. The Cruz plan zaps loopholes and carveouts, shrinking the tax code from over 70,000 pages to one postcard-size page.
The child tax and earned income credits stay, and charitable contributions and mortgage interest can still be deducted. But the payroll tax is eliminated. The death tax is dead. So is the corporate income tax --- replaced by a flat, fair 16 percent rate for business.
Perhaps the best part of Cruz's plan? The IRS is abolished.
Featured Image: Democratic presidential candidate former Secretary of State Hillary Clinton speaks during the National Action Network's 25th Anniversary Convention on April 13, 2016 in New York City. Hillary Clinton spoke during the National Action Network's 25th Anniversary Convention as she campaigns in New York ahead of the New York primary on Tuesday April 19. (Photo by Justin Sullivan/Getty Images)
