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Clinton’s Tax Hikes Would Kill Nearly 700,000 Jobs

- October 19, 2016

Clinton Claimed That Her Tax Plan Could “Produce 10 Million New Jobs.” CLINTON: “Most of the gains in the last years since the great recession have gone to the every top. So we are going to have the wealthy pay their fair share. We are going to have corporations make a contribution greater than they are now to our country. That is a plan that has been analyzed by independent experts which said that it could produce 10 million new jobs.” (Hillary Clinton, Presidential Debate, University of Nevada Las Vegas, Las Vegas, NV, 10/19/16)

Clinton’s Tax Plan Would Eliminate 700,000 Jobs, Shrink The U.S. Economy By 2.6 Percent, And Reduce The Wages Of U.S. Workers By 2.1 Percent

The Tax Foundation Estimates That Because Of Their Negative Effect On Growth, Clinton’s Proposed Tax Hikes Would Decrease The Size Of The U.S. Economy By 2.6 Percent. “The plan would increase marginal tax rates on individuals and businesses, which would lead to a 2.6 percent lower level of GDP. The smaller long-run economy would also lead to lower levels of wages and full-time equivalent jobs.” (Kyle Pomerlau, “Details And Analysis Of Hillary Clinton’s Tax Proposals, October 2016,” Tax Foundation, 10/12/16)

  • The Tax Foundation: “We Estimate That [Clinton’s] Plan Would Reduce Long-Run GDP, Reduce Wages, And Reduce The Equilibrium Level Of Full-Time Equivalent Jobs.” (Kyle Pomerlau, “Details And Analysis Of Hillary Clinton’s Tax Proposals, October 2016,” Tax Foundation, 10/12/16)

A Smaller U.S. Economy Under Clinton’s Tax Hikes Would Lead To Nearly 700,000 Fewer American Jobs And Lower Wages For Workers. “According to the Tax Foundation’s Taxes and Growth Model, Secretary Clinton’s tax plan would reduce the economy’s size by 2.6 percent in the long run (Table 2). The slightly smaller economy would lead to 2.1 percent lower wages, a 6.9 percent smaller capital stock, and 697,000 fewer full-time equivalent jobs. The smaller economy results from somewhat higher marginal tax rates on capital and labor income.”’ (Kyle Pomerlau, “Details And Analysis Of Hillary Clinton’s Tax Proposals, October 2016,” Tax Foundation, 10/12/16)

Bloomberg Headline: “Clinton’s Tax Plan Seen Costing 697,000 Jobs Amid Lower Wages” (John Voskuhl, “Clinton’s Tax Plan Seen Costing 697,000 Jobs Amid Lower Wages,” Bloomberg, 10/12/16)

Clinton’s Tax Plans Reduce “Incentives To Work, Save, And Invest.” “We predict that the reduced incentives to work, save, and invest would reduce the end-of-period GDP by 2.6 percent below the level it would have been without the policy change.” (Kyle Pomerlau, “Details And Analysis Of Hillary Clinton’s Tax Proposals, October 2016,” Tax Foundation, 10/12/16)


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