U.S. Democratic presidential candidate Hillary Clinton speaks during a campaign event at the Frontline Outreach and Youth Center in Orlando

Clinton proposes 65 percent tax on U.S. billionaire estates

U.S. Democratic presidential candidate Hillary Clinton speaks during a campaign event at the Frontline Outreach and Youth Center in OrlandoBy Emily Stephenson WASHINGTON (Reuters) – Democratic U.S. presidential nominee Hillary Clinton on Thursday proposed raising taxes on inherited property to 65 percent for the largest estates as she bolstered plans for tax hikes on the wealthiest Americans. Known by conservative opponents as the “death tax,” the estate tax, levied on property such as cash, real estate, stock or other assets transferred from deceased persons to heirs, currently is imposed only on inherited assets worth $5.45 million or more for an individual. Clinton’s plan, posted on her campaign’s website, would raise the estate tax from the current 40 percent to 45 percent, the rate that existed in 2009.

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