AP FACT CHECK: Trump exaggerates Clinton tax impact

AP News
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Posted: Oct 20, 2016 12:30 AM

WASHINGTON (AP) — A claim from the final presidential debate and how it stacks up with the facts:

DONALD TRUMP: "Her plan is going to raise taxes and even double your taxes."

THE FACTS: Clinton's plan wouldn't raise taxes at all for 95 percent of Americans, according to the nonpartisan Tax Policy Center. The very wealthiest would take the greatest hit, though a doubling is highly questionable.

Two-thirds of her proposed increases would hit the top 0.1 percent of richest Americans, the center estimates. The main components of her tax plan: a minimum 30 percent tax on those earning at least $1 million a year, and a 4 percent tax surcharge for those earning more than $5 million a year. She would also cap the value of tax deductions and exclusions for wealthier taxpayers.

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Contributed by Associated Press writer Christopher S. Rugaber.

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This story corrects that Clinton's tax plan would impose a 4 percent, not 5 percent, tax surcharge for those earning more than $5 million a year.