Democratic nominee Hillary Clinton has released her tax returns, following in the footsteps of all modern presidential candidates. The release, which in a normal presidential race would be a dull point of procedure, has acquired a special significance this year after Republican nominee Donald Trump declared that he will not be releasing his tax returns. The Clintons are a wealthy family and as such they pay a substantial portion of their income in taxes. In fact, Clinton’s proposed tax policies would raise her own tax burden, unlike Trump’s which would benefit the wealthy like himself.
In the 2015 fiscal year, the Clintons earned $10.75 million and gave $1 million – nearly 10% of their gross adjusted income – to charity. They paid a federal tax rate of 34.2% and a local tax rate of 43.2% on their non-deductible earnings. A substantial portion of their income fell into the highest tax bracket. Yes, the Clintons are a very wealthy family, but they also are willing to pay their fair share to benefit the good of all Americans. They even think that they should be paying more in taxes and are willing to lobby for it.
Trump, by contrast, claims to be the ‘blue collar billionaire’ hero of the poor whites and the working class. However, once he released his full set of economic policies, economic analysts quickly revealed that a president Trump would benefit the richest, not the poor. Furthermore, he refuses to release he tax returns claiming that they are under ‘routine audit,’ although he won’t release returns that aren’t being audited.
The right likes to claim that Clinton is the least transparent candidate and only looks out for the interests of the rich. But she has been completely upfront and transparent, revealing her income, proving that she pays all the taxes she owes without any accounting trickery, and fighting to raise her own tax rate for the benefit of all Americans. Trump must have something he’s hiding in his returns, and his policies will only better himself and his fellow billionaires.
Marisa completed her undergraduate degree in 2013 at the University of Wisconsin with a double major in creative writing and media studies. She is an advocate of progressive policies and focuses her interests on gender equality and preventing sexual and domestic violence.