Clinton says Trump hasn't offered any 'credible solutions' for economy

Cheryl Sanders
August 12, 2016

Clinton's 40-minute address - one of a handful of major economic speeches she's delivered this year - came as a rebuttal to a new set of tax proposals, unveiled by Trump at his campaign event on Monday, including a new tax loophole targeting what's called "pass-through income" - income that passes through a business directly to its owners.

"He has not offered any solutions for any real economic challenges we face", Clinton said. The 33 percent top income tax rate is higher than his originally proposed 25 percent. "He'd pay a lower rate than millions of middle class families".

"He is missing so much of what makes MI great", Clinton, the Democratic presidential nominee, said in Warren, Mich.

That's her goal in a speech scheduled for Thursday afternoon at a manufacturing company in Warren, Michigan. She slammed Trump's plan, which she called "trickle-down economics" that would only help millionaires like Trump and his friends by cutting taxes for corporations and the wealthiest citizens. The top rate now is almost 40 percent.

Her appearance follows a Trump speech on the economy, also in MI, on Monday. In addition, tax returns are publicly available for the years Bill Clinton was president. He says he is under audit and won't release his tax information until the audit is concluded.

Clinton contended those policies would boost Trump, who claims an often disputed net worth of $10 billion, more than they would aid working families.

Protesters listed Clinton's use of a private email server for handling classified US security information and inaction in Benghazi when four Americans were attacked and killed as items for her rap sheet. Clinton has tried to sway voters with her plans for investment in job training, reducing college costs and taxing the wealthy.

CBS2's Tony Aiello reported Clinton said her plan to grow jobs and the economy includes investing $275 billion to build infrastructure, rewriting the tax code to penalize companies that move jobs overseas, and new tax incentives for firms that share profits with employees. Other economists criticize aspects of that model.

She called on him again to release his tax returns.

Trump outlined a revamped economic package in his speech Monday.

The second part of Clinton's strategy is challenging his business record. Clinton in recent weeks has made a point of stopping at small businesses in swing states where she's recounted his history of manufacturing products overseas, hiring foreign workers over USA citizens and refusing to pay some contractors. "That doesn't happen in third-world countries", Clinton said. "Go back home and sleep", Trump said. In a Bloomberg Politics national poll conducted August 5-8, 61 percent of likely voters said they're less impressed with the Republican nominee's business acumen than when the campaign started.

"He's offered no credible plans to address what working families are up against today", Clinton said.

But Trump has proved to be a shifting target for Clinton on economic policy. Beyond promising rate cuts for individuals and businesses Trump has strayed from Republican orthodoxy on entitlements and government spending. "This is the time to borrow", he said. US spending is projected to fall about $1.4 trillion short of the $3.3 trillion needed through 2025 for airports, highways and other infrastructure, according to the American Society of Civil Engineers.

Yet, as Trump attempts to run an economic populist campaign that hits Clinton on trade and taxes, it's an open question whether the history books will be updated with the term "Trump Democrats" after November. She said it's not enough to "rant and rave" about trade deals that have hurt Americans, and that the United States cannot "cut ourselves off from the world".

Amid pressure from progressives a year ago, Clinton broke with her own past statements, saying she could not support the deal because of "unanswered questions" and currency manipulation that could possibly affect American jobs. But she said bluntly Thursday that she will not waver on the current version of the deal.

Trump said he had no intention of changing his inflammatory approach to presidential politics, pledging in a CNBC interview to "just keep doing the same thing I'm doing right now".

-With assistance from Rich Miller, Michelle Jamrisko and Ben Brody.

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