The economic policy unveiled by Republican presidential nominee Donald Trump will benefit the rich by cutting their taxes and do little to create jobs or boost the economy, his Democratic rival Hillary Clinton has said.
“He has given these kinds of plans or policies that don’t really deserve that name. Basically, it’s cut taxes on the wealthy, get out of the way and let the wealthy do whatever they want,” Clinton said at a well-attended election rally in Florida, a key swing State.
Referring to the Trump’s economic policy speech, Clinton said there wasn’t a lot in it for most Americans.
“He’s got – he announced a few days ago that he’s got a dozen economic advisors. Let’s see, he’s got three Wall Street money managers, an oil baron, a former chief economist at one of the big banks at the heart of the financial crisis, he’s got six men named Steve – and they all care about the same things he does, about how to avoid paying their fair share,” she said.
“I intend to make the wealthy pay their fair share to build this economy. He wants to roll back regulations on Wall Street. I want to tighten them and make them cover more people so that we don’t ever end up in the ditch we were in with the Great Recession. He hasn’t offered any plans about infrastructure except building a wall and making Mexico pay for it,” Clinton said.
Trump unveiled his economic policy on Monday in which he promised major tax reforms while asserting that he would adopt a tough posture against China and promote ‘Americanism’ not ‘globalism’.
Trump offered major tax sops across the board.
Trump said his policies would benefit working families while ensuring the wealthy pay their fair share, dramatically cut taxes for everyone and streamline deductions while presenting the biggest tax reform since Ronald Reagan.
“And so everybody who’s independent – I don’t care whether they’re Republican, Democrat, independent – anybody who just looks at his plans has concluded that it’s not going to work. And one particular economist who looked at his plans, somebody who advised John McCain back in 2008,” she noted.
She said that one such analyst said that his policies would cost 3.5 million jobs.
“He’s an independent economic analyst, and he basically said if Trump were able to implement what he’s proposing, heaven forbid, it would cost 3.5 million jobs. He would actually reduce jobs. And then to be fair, he looked at what I’m proposing, and he said what I’m proposing would create at least 10 million new jobs in the first four years,” she said.
Earlier at the 3 Daughters Brewing in St Petersburg, Clinton spent the first stop of her Florida Jobs Tour laying out her vision of bolstering small businesses and building an economy that works for everyone, not just those at the top.
Clinton plans to cut red tape, make it easier for small businesses to have access to credit, and help aspiring entrepreneurs with their student debt, in order to help small businesses create more jobs.