In an effort to ‘jump start’ the US economy and also his faultering election campaign, which has been batterered by a series of recent controversies, Donald Trump has outlined his economic vision.
During a speech in Detroit, the Republican presidential nominee vowed to dramatically slash taxes and regulations.
“All policies should be geared toward keeping jobs and wealth inside of the United States. Under my plan, no American company will pay more than 15 percent of their business income in taxes…..In other words, we’re reducing taxes from 35 percent to 15 percent.”
Under my plan, no American company will pay more than 15 percent of their business income in taxes…..In other words, we’re reducing taxes from 35 percent to 15 percent.
Trump also promised to make child care costs tax-deductible and end ‘death’ tax in a bid to reverse plummeting poll numbers against his democratic rival Hillary Clinton.
Trump proposes tax rates of 12%, 25% and 33% » https://t.co/uB3×0La7f7— CNBC Now (@CNBCnow) August 8, 2016
Campaigning in the battleground state of Florida, she was quick to slam the real estate mogul’s proposals, describing them as a repackaging of traditional Republican trickle-down economics.
‘‘His (Trump) tax plans will give super big tax breaks to large corporations and the really wealthy just like him and the guys who wrote the speech right …..we’re going to make the wealthy pay their fair share in taxes for a change,’‘ Clinton said
‘‘And, as I have said throughout this campaign – I am not going to raise taxes on the middle class. But with your help we are going to raise it on the wealthy because that’s where the money is,” she added.
Donald Trump's economic plan is a bad deal for working families—and a big tax cut for Donald Trump.https://t.co/D0oOe6bwza— Hillary Clinton (@HillaryClinton) August 9, 2016
Trump's tax plan in a nutshell: cut rates for those at the top and leave working families to pick up the tab.https://t.co/T582AX5v2l— Senator Tim Kaine (@timkaine) August 9, 2016
Clinton is due to give a speech on the economy in Michigan later this week. Latest polls give her a substantial lead of around eight points over her Republican rival.