Hillary Clinton previews new tax policy proposals
Following up on December's promise to expand the Buffett rule, Hillary Clinton is expecting to release additional tax proposals over the next month that would raise the tax rates of America's wealthiest economic class.
"It's clear that those at the top are still gaming the system and leaving hard-working American families holding the bag," Clinton said in a statement Saturday.
"The Buffett rule is one idea that would help achieve greater fairness in our tax system," the Democratic front-runner continued, "and in the coming weeks, I will be laying out additional proposals that go beyond the Buffett rule."
The rule -- named for billionaire Warren Buffett and originally suggested by President Obama in 2011 -- would require those earning over $1 million yearly to pay an effective tax rate of at least 30 percent.
Last month at an Omaha, Nebraska, rally, Clinton pledged that she would "fight hard to implement the Buffett rule" and hinted at the possibility that she would "want to go even further."
Clinton's renewed tax push comes just as the Internal Revenue Service released new data on the 400 wealthiest American households. According to the IRS report, in 2013 these top earners only paid, on average, a 22.9 percent effective tax rate.
Reacting to the report, Clinton said Saturday that such a rate was still too low.
"That's not fair, and it's not good for our economy, placing burdens on middle class families and holding back investments that would help us grow," the Democratic hopeful said.
She added that a Clinton administration would seek to close the tax loopholes that any of the ultra-wealthy may be able to exploit.
"As president, I'll do what it takes to make sure the super-wealthy are truly paying their fair share," she said.