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Hi Democratic presidential frontrunner Hillary Rodham Clinton is promoting tax measures that would increase federal revenues by $1.1 trillion over the coming decade, according to a new analysis. Compared to Republican plans, which typically cut taxes, her proposal could help stabilize the nation’s ballooning debt if she also finds a way to reduce existing government spending.

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Clinton’s proposals for boosting taxes on high-income earners, modifying taxation of multi-national corporations, doing away with fossil fuel tax incentives and increasing the estate and gift taxes would fall hardest on the top 1 percent of taxpayers, while leaving 95 percent of Americans relatively unscathed, according to an analysis released on Thursday by a joint venture of the Urban Institute and the Brookings Institution. Clinton’s tax plan, including some leftover ideas from the Obama administration, would almost certainly encounter stiff opposition from the GOP controlled Congress which opposes any tax increases. Moreover, Clinton has advanced a raft of high-priced plans for the middle class – including relieving college tuition costs and expanding healthcare, family leave and energy production – that would more than offset the $1.1 trillion of new revenue over the coming decade.

While Clinton’s tax proposals are still a work in progress and could end up being more costly, the report says there is little doubt that the wealthiest Americans would be hardest hit by soaring marginal tax rates that would “reduce incentives to work, save and invest.” The 40-page report doesn’t venture a guess as to the long-term effect of these tax increases on the overall economy. However, they would almost certainly slow the growth of the Gross Domestic Product if enacted unless Clinton’s ambitious domestic proposals succeeded in generating new jobs and economic activity.…...

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