Today is Tax Day, so the RNC thought it would be the perfect opportunity to highlight the hypocrisy of Hillary Clinton’s tax plan.
In a letter to Clinton’s accountant, Rorrie Gregorio, RNC Chairman Reince Priebus asked if the former secretary of state plans to “put her money where her mouth is” with regard to her tax plan for other Americans with similar incomes, which she herself has not offered to pay voluntarily.
“As a part of Mrs. Clinton’s tax policy proposals, she has called for an unprecedented new tax on Americans who earn more than $5 million annually. This 4-percent “surcharge” would effectively create an entirely new tax bracket for people at the top 0.01 percent, such as herself,” Priebus writes.
The RNC chair goes on to point out that the Clintons’ 2014 returns (the most recent year they’ve released) shows they earned nearly $23 million—the highest taxable income they’ve earned since being “dead broke” after leaving the White House in early 2001.
With the Clintons’ tremendous income, I am calling upon them to fully embrace her new tax by applying the “surcharge” to her family’s previous income since 2001 when her family income has been in excess of $10 million on average annually.
Should the Clintons choose to put their money where their mouth is and pay Hillary Clinton’s proposed tax, she and her husband would owe the Internal Revenue Service a cumulative amount of $4,687,898.56 dating back to 2001. To pay the tax for 2014 alone, the Clintons would owe $711,489.92.
As a member of the top .01 percent of American income-earners and a proponent of higher taxes, Clinton should practice what she preaches by sending the U.S. Treasury the over $4.6 million she would have owed under her new tax.
In addition, it is imperative that the Clintons continue to lead moving forward, and pay this 4-percent “surcharge” tax on their 2015 federal income tax filings and each year moving forward.
Mrs. Clinton has a particular obligation to honor her tax agenda considering her and her husband’s past and current use of the tax code. Whether it was the improper use of interest deductions on their Whitewater real estate loans, or their current use of real estate loopholes to avoid fully paying the estate tax, another tax she seeks to raise, the Clintons can no longer hide their hypocritical penchant for gaming the tax system.
The Clintons have always played by their own set of rules, Priebus argued, and the American people are tired of it. Thus, the Clintons ought to pay the IRS what they would owe should her own tax hiking agenda be put in place one day.
If Clinton won’t even release the transcripts of her Wall Street speeches, however, don’t hold your breath waiting for her to voluntarily fork over hundreds of thousands in this year’s filings to prove she’s a champion of the middle class.