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Presidential Issues: Taxes


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Raising Top Tax Rates Won’t Cure Income Inequality

March 16, 2016

By Caroline Baum

Income inequality is a major talking point for Democratic presidential candidates Hillary Clinton and Bernie Sanders. Both want to impose higher taxes on top earners, either directly or indirectly.

Clinton's tax proposals are aimed at upper-income earners. She would impose a 4 percent surtax on households earning more than $5 million a year; close some corporate loopholes; and raise the capital gains tax rate on investments held for less than six years to address what she calls "quarterly capitalism."

Sanders is more direct and egalitarian when it comes to his tax plan. He would raise marginal rates for everyone, to as high as 52 percent for those earning more than $10 million a year. He would tax capital gains and dividends at ordinary income tax rates for households with annual income in excess of $250,000.

Read the full article at Economics 21: Raising Top Tax Rates Won't Cure Income Inequality

Issue Categories : Bernie Sanders, Hillary Clinton, Taxes