Trump: Clinton ‘lost every Republican she ever had’ with estate tax plan

Donald Trump says Hillary Clinton’s proposal to “tax estates at 65%” will cost her the support of “every Republican” who considered voting for her.

The GOP presidential nominee tweeted Friday that “Hillary Clinton just lost every Republican she ever had, including Never Trump, all farmers & sm. biz, by saying she’ll tax estates at 65%.”

{mosads}Clinton is only proposing to tax estates valued at more than $1 billion per couple at that rate.

Clinton has previously said that she would raise the estate-tax rate from 40 percent to 45 percent and lower the amount that’s exempt from the tax from $10.9 million per couple to $7 million per couple.

On Thursday, the Democratic presidential nominee’s campaign said in an updated fact sheet that Clinton “will go further than that for estates valued in the tens and hundreds of millions, with higher rates as values rise, up to a 65% rate on estates valued at over $1 billion per couple.”

In contrast, Trump’s tax plan calls for repealing the estate tax, which he calls the “death tax,” though capital gains held until death over $10 million would be taxed. Republicans generally oppose the estate tax.

Trump’s tweet isn’t the first time his campaign has criticized Clinton’s estate-tax proposal. The Trump campaign on Thursday called Clinton’s proposal hypocritical because she has taken advantage of loopholes to “exempt her Chappaqua estate.”

The Clinton campaign fired back at the Trump campaign’s statement, saying that Clinton’s taxes would increase under her proposals and criticizing Trump for refusing to release his tax returns.

The conservative-leaning Tax Foundation estimated that only about seven estates would be subject to the 65 percent tax in the proposal’s first year of enactment, and that the tax would raise about $600 million in its first year. 

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