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Clinton calls for 4% tax surcharge on US wealthy

Democratic presidential candidate Hillary Clinton speaks during a campaign stop on January 11, 2016 in Waterloo, IowaWhite House hopeful Hillary Clinton on Monday called for a four percent “surcharge” tax on the wealthiest Americans, seeking to ensure that multimillionaires do not pay lower rates than middle-class families. The surcharge proposed by Clinton would impact those who make more than $5 million per year, or about 0.02 percent of the taxpaying public, and would raise more than $150 billion over 10 years. “This surcharge is a direct way to ensure that effective rates rise for taxpayers who are avoiding paying their fair share, and that the richest Americans pay an effective rate higher than middle-class families,” a Clinton aide said.

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