Hillary Clinton will seize on criticism of Donald Trump’s plan to repeal the so-called death tax, which she will say only benefits families with multimillion-dollar estates like his own.
At an event in Miami on Tuesday, Clinton will dismiss Trump’s proposal as further proof of the charge that he is only interested in policies that benefit himself, labelling it the “friends and family discount”, according to a Clinton campaign official.
Trump, who has put himself forward as the champion of the American workers, on Monday laid out his economic agenda, which included a roster of proposals that align with Republican orthodoxy, including slashing tax rates, reducing the corporate tax rate and eliminating the estate tax.
Trump presented his pledge to repeal the estate tax, worth an estimated $25bn a year, as a boon for the working class, but it only applies applies to estates larger than $5.45m for individuals, or $10.9m for married couples – in effect, people like himself and his children.
“American workers have paid taxes their whole life. They shouldn’t be taxed again when they die,” he said Monday.
Clinton will explain how this applies only to people in and around Trump’s tax bracket.
If Trump is truly worth “in excess of $10bn” as he has claimed, she will say, then he would pay 40% for the estate tax, or approximately $3.996bn when he passes his estate along to his heirs.
Clinton will also make the case that it’s “no coincidence” Trump is pushing tax reforms that largely benefit his own family. Clinton has said she will push for a tax system that ensures the wealthiest Americans and large corporations pay higher rates than middle-class households.
