The mischievous columnist in me wants to ask: Why is Hillary Clinton trying to lose jobs and lower wages?
My more responsible columnist side quickly adds: Of course that’s not Clinton’s goal. Yet it is the predictable — indeed, it’s the predicted — outcome of two important recent policy pronouncements. First, her call to repeal the so-called Cadillac tax on high-cost health plans. Second, her newfound opposition to the Trans-Pacific Partnership trade agreement.
This is not my economic analysis. It’s the assessment of the Obama administration.
Let’s start with the Cadillac tax on health-care plans that cost more than $10,200 for a single person and $27,500 for families. Beginning in 2018, employers who offer such insurance will have to pay a 40 percent tax on the excess amount.