Hillary Clinton is touting “Free Wifi.” But it is anything but “free.” In fact it is part of a massive $275 billion tax increase outlined by her campaign.
In a Wednesday tweet, Clinton said:
Two words: free WiFi.
In train stations, airports and other public spaces. https://t.co/6CJVBl9j7e
— Hillary Clinton (@HillaryClinton) June 29, 2016
Clinton failed to mention that this “free” WiFi falls under her $275 billion net tax increase from unspecified “business tax reform.”
“Nothing is ever as expensive as something our government provides for ‘free’ said Grover Norquist, president of Americans for Tax Reform.
Clinton has outlined several onerous tax increases she wants to impose on the American people. The tax increase proposals up to at least $1 trillion:
$350 Billion Income Tax Increase for a “New College Compact” – Clinton has proposed a $350 billion income tax hike in the form of a 28 percent cap on itemized deductions.
$275 Billion Business Tax Increase for “Infrastructure”—Clinton has called for a tax hike of at least $275 billion through undefined business tax reform. According to the Clinton campaign document, “Hillary will fully pay for these [Infrastructure] investments through business tax reform.” The official campaign document on the $275 billion tax hike describes the “free” WiFi:
“She will invest new federal resources so that train stations, airports, mass transit systems, and other public buildings can have access to gigabit connectivity and can provide free Wi-Fi to the public.”
$400 Billion “Fairness” Tax Increase — According to her published plan, Clinton has called for a tax increase of “between $400 and $500 billion” by “restoring basic fairness to our tax code.” These proposals include a “fair share surcharge,” taxing carried interest capital gains as ordinary income, and raising the Death Tax.
Clinton has also proposed several tax increases not included in the tally above. Because her campaign has failed to release specific details for many of her proposals, the true figure is likely much, much higher than $1 trillion.
For instance:
Capital Gains Tax Increase — Clinton has proposed an increase in the capital gains tax to counter the “tyranny of today’s earnings report.” Her plan calls for an overly complex, byzantine capital gains tax regime with six brackets for those whose total taxable income puts them in the top 39.6 percent bracket. Her campaign has not said how much this will increase taxes.
Tax on Stock Trading — Clinton has proposed a new, unquantified tax on stock trading. The tax increase would only further burden markets by discouraging trading and investment. Inevitably, costs associated with this new tax will be borne by millions of American families that hold 401(k)s, IRAs and other savings accounts.
“Exit Tax” – Clinton has proposed a series of measures aimed at corporate inversions including an “exit tax” – on income earned overseas. The term “exit tax” is used by the campaign itself. This proposal would completely fail to address the underlying causes behind inversions. Her campaign document describing this proposal says it will raise $80 billion in tax revenue, but claims some of the $80 billion will be plowed into tax relief. It does not specify a dollar amount.
To learn more about Hillary’s ever-growing list of tax increase proposals, visit ATR’s dedicated website, www.HighTaxHillary.com