Clinton promises to tax the rich to pay for multibillion-dollar agenda

Seeking to paint rival Donald Trump as an ally of Wall Street and Democrats as champions for the middle class, Hillary Clinton on Wednesday touted an economic plan that relies heavily on tax increases for major U.S. companies, Wall Street firms and rich Americans.

At a rally in Cleveland, Mrs. Clinton made no bones about the fact that her tax platform centers on raising more revenue to pay for billions of dollars in new spending, including her plan to offer free college to virtually all Americans, make one of the largest investments in history in infrastructure, raise the national minimum wage and underwrite other progressive goals.

Mrs. Clinton and her running mate, Sen. Tim Kaine of Virginia, tried to contrast their approach with that of Mr. Trump and congressional Republicans. The Democratic duo painted Mr. Trump as a heartless businessman whose own tax plan would funnel more breaks to his wealthy friends and institute loopholes benefiting corporations, while leaving middle-class families out in the cold.

The former first lady also vowed never to raise taxes on the middle class — a reversal from her time in the Senate, when she voted to hike taxes on Americans making just over $40,000 — but made clear the rich will be in her crosshairs if she makes it to the Oval Office.

Mrs. Clinton’s tax plan would raise taxes on Americans making over $250,000 per year, and she has said she would pursue new taxes on corporations and penalties for companies that move jobs abroad.