US  Presidential candidate Hillary Clinton seeks surcharge tax on wealthiest tier of Americans

#MANCHESTER :  New Hampshire  U.S. Democratic presidential candidate Hillary Clinton on Monday proposed a 4 percent tax on the wealthiest sliver of taxpayers who earn more than $5 million per year.

The so-called “surcharge” on the wealthiest 0.02 percent would generate $150 billion over the next decade, according to a Clinton campaign aide.

The suggested tax follows Clinton’s promise last month as she campaigned alongside billionaire investor Warren Buffett to build on the “Buffett rule,” which would establish a minimum tax rate of 30 percent on those earning more than $1 million per year. Buffett has criticized tax policies that allow the rich to pay lower rates than the middle class.

“I want to go further and impose what I call a fair share surcharge on multi-millionaires because right now, we’re behind and we need to get the wealthy and the corporations to pay for their fair share, so I can keep my promise, which is I will not raise taxes on the middle class,” Clinton said at a campaign stop in Iowa on Monday.

The Democratic front-runner #HillaryClinton,  is just weeks out from the first party-nominating contests in Iowa and New Hampshire, where she is trying to fend off her chief rival, U.S. Senator Bernie Sanders of Vermont, a democratic socialist who has made reducing income inequality the theme of his campaign.


#HillaryClinton proposals have included a $350 billion plan to reduce college debt; a $275 billion plan to invest in infrastructure and a $30 billion plan to assist coal-dependent regions as the country transitions to renewable energy.

At the same time, she has promised not to raise taxes on families earning less than $250,000 per year, and whose support she needs to secure the Democratic nomination ahead of the election in November.

#HillaryClinton will release more tax proposals later this week that were “designed to ensure the wealthy pay their fair share,” her campaign said.