Will Raising Taxes Get You Elected President?
It is not common to hear a presidential hopeful “vow to raise taxes”, because paying more taxes is not on the top of most voter’s list of priorities. However, that is exactly what Hillary Clinton has said is a part of her plan, should she become the nation’s first woman president. But, before you get too worried, take a look at what Clinton proposes.
The story from Fox News is that the tax raises in question include the following:
- An increase in corporate tax rates.
- An increase in the rate of tax paid by those in the highest wage earning category.
These two measures may in fact help Clinton secure the votes she needs. For years the country has heard cries that the current system of income taxation is unfair, with those who make the least being forced to pay the most, and those with the ability to pay more getting off with lower tax bills. Most Americans are also frustrated with corporate governance, and the loopholes available to large companies when it comes to paying taxes. If Clinton can successfully implement programs that eliminate these two social concerns, raising taxes in this sense may just get her elected president.
Other key components of Clinton’s plans include raising the minimum wage, and a crackdown on those persons and entities that fail to abide by the rules. As the race for the White House heats up, it will be interesting to see how much (or how little) the candidates are able to accomplish. Regardless of your political affiliation, or preference, a common theme among voters is for economic stability and this certainly includes reforms to the current system of taxation. If you have questions about your tax liability, are being audited by the IRS, or want to know how to reduce what you owe; call one of our experienced legal tax professionals today.
Let the professionals at Nielsen Law Group help you with all your tax needs. Call (480) 888-7111 or submit a web request here. Our team of experienced legal tax professionals is here to help you with your tax related matters.