Hillary Clinton would save about $1.7 million a year under Donald Trump's tax plan
You may or may not agree with Hillary Clinton's tax proposals, but they're clearly not self-serving. Under the policies she supports, Lynnley Browning at Bloomberg News estimates, Clinton and husband Bill Clinton would have paid at least $224,000 more in 2015, based on the tax returns Clinton's presidential campaign released last week. Under Donald Trump's proposed tax overhaul, on the other hand, the Clintons would have saved an estimated $1.7 million last year, Browning says. A group of accountants and tax specialists signed off on those numbers as realistic and likely in the right ballpark.
With their reported 2015 adjusted gross income of $10.6 million, the Clintons would have seen their effective tax rate of 34.2 percent (or $3.2 million in income tax) cut down to close to Trump's proposed 15 percent rate for individuals' business income. Since Trump has not released any of his tax returns, it is impossible to know how the dueling tax plans would help or hurt him. He would certainly get a tax cut under his own plan — if he pays any federal income tax at all; he has paid $0 before and may still — and would pay more under Clinton's proposals. You can see how Browning arrives at her numbers at Bloomberg News.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
'Making a police state out of the liberal university'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
8 looming climate tipping points that imperil our planet
The Explainer New reports detail the thresholds we may be close to crossing
By Devika Rao, The Week US Published
-
Try 6 free issues of The Week Junior
Spark your child's curiosity with The Week Junior - the award-winning current affairs magazine for 8-14s.
By The Week Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published