Someone has created a calculator for estimating the effects of each candidate’s tax reforms. Each candidate has presented a broad view of marginal tax rates.
I think this is a clever idea. It gets voters thinking about how each candidate’s programs would fare, other things — e.g., like the economy — being equal.
Problem: it does not tell you the truth, the whole truth, and nothing but the truth.
First, who designed it? The Tax Policy Center. Who are they? A non-profit liberal think tank that works with the Brookings Institution — a Keynesian think tank — and the Urban Institute, a liberal/Left think tank.
Second, it is being promoted by pro-Clinton liberal Ezra Klein. His Vox organization is publicizing the calculator. I found nothing on it on the website of the Tax Policy Center. So, we are not told about its assumptions on the Tax Policy Center.
I tried it. Under Trump and Cruz, I would pay considerably less. Under Clinton, a few hundred dollars more. Under Sanders, I would pay as much more as I would save under Cruz.
Note: Klein is a Clinton supporter. He is anti-Sanders.
What does each of them suggest?
According to a site that is promoting the calculator, the Free Thought Project:
According to the Tax Foundation, Hilary Clinton would add a 4% surtax on income over $5,000,000. She also raises rates on medium-term capital gains (investments held for less than six years) to between 24% and 39.6%.
Ted Cruz establishes a flat rate of 10% on all ordinary income and increases the standard deduction to $10,000 per filer.
(To read the rest of my article, click the link.)
