TAX NEWS - JUNE 2010

Hillary Clinton: The Rich Should Pay More In Taxes

03 June 2010 -- While giving a speech last week concerning the administration's national security strategy, Secretary of State Hillary Clinton conveyed her personal opinion that America's wealthiest citizens are not being taxed enough.

The former first lady said during a discussion at the Brookings Institution that she regrets the previous administration's decision to abandon a taxation formula that helps "pull people out of poverty."

"The rich are not paying their fair share in any nation that is facing the kind of employment issues" as the United States is, "whether it is individual, corporate, whatever the taxation forms are," said Clinton.

"Brazil has the highest tax-to-GDP rate in the Western Hemisphere and guess what — it's growing like crazy… and the rich are getting richer," she added.

Before steering the conversation toward "one of the biggest international problems we have" today, Clinton carefully noted that she was expressing her own personal opinions, and not those of the Obama administration, The New York Times reports.