Day 85 – My journey to find reasons to vote for Hillary rather than just against Trump.
Hillary looks to narrow the inequality gap with a fairly progressive tax plan.
Everyone making less than $250,000 will not see a change in their taxes under Clinton (assuming she can get her tax plan through Congress). However, those making more will see a hit on that portion over $250k; this means 97% of taxpayers will not be affected.
Some of the loopholes that Trump enjoyed will be closed, as well as a few that benefit the hedge fund and private equity folks, and those inheriting significantly will see less. For those who think that Hillary is in the pocket of Wall Street, this should serve as an indication that she will bite the hand that feeds her if it supports her social policy.
In addition to setting up a “middle out” economic expansion (as opposed to “trickle down”), this will fund her various social proposals. And it addresses the federal debt: “By 2028, the PWBM (Penn Wharton Budget Model) indicates that GDP would be larger than it would have been without the plan, because smaller budget deficits would free up savings to finance private investment, and the federal debt would decrease by $5.4 trillion by 2036.”
Personally, Bill and Hillary (and Chelsea) will also take a significant hit. This is putting your money where your mouth is.