“I have connected up my proposals for the kind of investments I want to make with the taxes that I think have to be raised … I would spend about $100 billion a year … I think it’s affordable, and I think it’s a smart way to make investments,” she told the New York Daily News.
She’s justifying her new tax-and-spend plans by citing the poor results from Obama’s tax, borrow and spend strategy, which has raised the government’s debt by $8 trillion since 2009. The debt is now $19 trillion and growing, while median income has flatlined.
Once the long growing property bubble collapsed in 2007, “We had a total loss of nine million jobs. Five million homes were lost and $13 trillion in family wealth was wiped out,” she said. “That was a body blow from which many Americans have not yet recovered, and I don’t believe that the economy as a whole has fully recovered,” she admitted, despite her support for Obama’s economic strategy.
The former Secretary of State has released a long list of new taxes she plans to hit the country with, including a 28 percent cap on itemized deductions in order to raise $350 billion for subsidized tuition at colleges and universities.
Clinton also hopes to initiate “business tax reforms” that will allow her to raise $275 billion for infrastructure upgrades.
She also plans to raise another $500 billion by eliminating deductions, raising the estate tax, hiking capital gains taxes, and pushing a tax of 30 percent on those who have been fortunate enough to have earned a million dollars in a year.