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Clinton to raise taxes for wealthy and close real estate loophole

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Clinton to raise taxes for wealthy and close real estate loophole

Donald Trump, U.S. Republican presidential candidate claims that his experience in business will let him fix the tax code and close loopholes, but it is his rival Hillary Clinton, who proposing changes affecting the wealthy, The Washington Post reports on Thursday.

According to the newspaper, Democratic candidate Hillary Clinton is pressing for changes to the tax code that would affect such wealthy families as that of Donald Trump.

The Urban-Brookings Tax Policy Center provided a new research showing that Clinton’s tax changes would make the average member of the top 0.1 percent pay more than $800,000 extra under her plan. While Donald Trump would cut taxes for everyone, the wealthy would benefit most of all, seeing their incomes rise by over $1 mln.

In particular, Trump would abolish the estate tax on large inheritances, but Clinton by contrast would increase it by 25 percent.

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