Hillary Clinton slams Donald Trump's economic plans in MI

Carla Harmon
August 12, 2016

Taxes. Much of her talk on taxes was an attack on Trump's plan, although she did call for giving USA companies a tax credit to encourage profit sharing with employees (something he has not offered). Asked by CNBC how he planned to reverse the advantage that Clinton has opened over him, Trump said he simply planned to do "the same thing I'm doing right now". "I'm a product of the middle class". And on trade, Clinton reminded her audience that Trump doesn't practice what he preaches, as he outsources many of his own company's jobs to foreign countries. "Engineers, builders, laborers, shippers and countless others went to work each day, provided for their families and lived out the American dream", Trump said to the Detroit Economic Club. She slammed Trump's plans to reduce taxes as a boon for the rich.

His comments come as many in the African-American community are anxious about the effects of a Supreme Court decision that invalidated a key provision of the 1965 Voting Rights Act. Trump has pledged to cut their taxes so they do not move. She said lack of trade-law enforcement was especially lax during the Republican George W. Bush Administration, which of course came after her husband's. They say they love Trump because he speaks the truth but he's really not serious when he makes outrageous comments.

Clinton bashed his plans as an "outlandish, Trumpian" take on "the failed theory of trick-down economics" that even some Republicans reject.

Clinton's own plan would raise taxes on the wealthiest taxpayers in various ways. She'd create a "millionaire's tax, " which would establish a minimum tax rate of 30 percent for taxpayers with adjusted gross income over $1 million. "My eyebrows went up", she said, at a proposal that "would be about a $4 billion gift to him and his family".

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Trump, meanwhile, would call for individual tax cuts across the board - for consolidating the existing seven individual income tax brackets to just three, and setting a top rate of 33 percent, down from 39.6 percent. He'd also cut the statutory tax rate on corporate income to 15 percent from 35 percent. Other economists criticize aspects of that model.

And Democrats are particularly anxious about fresh Federal Bureau of Investigation concerns that the Russian hackers who penetrated servers at the Democratic National Committee may have also breached private email accounts of many more key members of the party, including those with the Clinton campaign. She said that according to independent analysis "under my plans, we'll create about 10.4 million new jobs".

There's evidence that Clinton's attack on Trump's record and media reports about his background have had some effect.

Democratic vice presidential candidate Tim Kaine says voting is a "sacred act".

Trump's campaign responded to the speech with a flurry of press releases highlighting Clinton's support of some past trade deals and claiming she would "100% enact the TPP if she gets the chance".

Mrs. Clinton's speech also painted sharply divergent visions of where the country is headed. "This is the time to borrow".

Later Wednesday, Trump stirred up another fuss by calling President Barack Obama the "founder" of the Islamic State militant group - and Clinton its co-founder. But he added that the military has been depleted and America's infrastructure is in disgusting condition.

Many expressed concern that Clinton could support the Trans-Pacific Partnership trade proposal and the North American Free Trade Agreement, which they blamed for many manufacturing jobs leaving MI.

Jobs. Because she was appearing in a manufacturing-oriented state, and one that is key to her election, Clinton stressed that she would boost these jobs through infrastructure projects, an area where she and Trump agree.

"Frankly, many moderates may be increasingly turned off by the fact that we have to continue to discuss whether a presidential candidate has sufficient self-control for the office", he said.

Besides tax reform, Clinton also spoke at length about trade, assuring Americans that she would "stop any trade deal that kills jobs or holds down wages, including the Trans-Pacific Partnership". "I oppose it now, I'll oppose it after the election, and I'll oppose it aspresident".

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