Hillary Clinton's plan to raise the payroll tax — a plan she hasn't yet announced, but that Bernie Sanders more or less dragged out of her at the most recent debate — is the topic of my latest column:
Clinton has already proposed a 4 percent surcharge on high-income taxpayers, bringing the top marginal income tax rate to 43.6 percent. Slapping a 12.4 percent payroll tax on top of that would bring the top marginal federal income tax rate to 56 percent, meaning the federal government would take away more than half of every additional dollar that a high-income family earned. Add in state and local income taxes — 13.3 percent in California and 12.7 percent in New York City — and personal income taxation reaches a confiscatory 69 percent, or more than two thirds of every marginal dollar....It's no wonder that Clinton hadn't deigned to tell voters about this under Sanders dragged it out of her in a debate.
Please read the whole thing at CapX (here), the New York Sun (here), and Newsmax (here).