The Washington-based Tax Foundation (a non-partisan, independent research group educating taxpayers about sound tax policy and the size of the tax burden borne by Americans at all levels of income) has analyzed Hillary Clinton’s proposed tax increases on people with “high incomes” and businesses and determined it to be a drag on economic growth.

Findings include:

  • 2.6% reduction in GDP
  • 2.1% lower wages
  • loss of about 697,000 jobs

Federal revenue would increase by $663 billion over 10 yrs. Taxpayers in the top 1% (starting as low as $231,000 of income) would find their after-tax incomes fall by 6.6%. The other 99% (busy occupying Wall St instead of working!) would see their after-tax incomes rise by at least 0.1%.

To read the full analysis and its findings go here.

Here’s the bottom line…

While the following will sound like partisan politics it is nonetheless economic reality. The plan does not grow the pie (in fact it shrinks it) but, instead, reallocates it. We all benefit when there’s more for everyone. Lower rates and broaden the base. When will they ever learn?