Speaking before the Detroit Economic Club Monday, Donald Trump shed some light on “Trumponomics” and how he’d get America’s economy growing again. Democrats had been behind Clinton, 86-7, before Philadelphia.
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He revamped his previous proposal, unveiled during the GOP primary, by increasing the amount that the highest-individual income earners would pay. Trump’s proposal from previous year had envisioned four brackets: zero, 10 per cent, 20 per cent and 25 per cent.
As he called for urgent change away from Democratic policies, he envisioned a nation refocused on manufacturing at home and wary of trade deals overseas – a country bearing little resemblance to the globally focused economy of recent years. “Our country will reach fantastic new heights – maybe heights never attained before”.
Trump is hoping to make up ground Monday in Detroit where he’ll give a speech on the economy. He did not react harshly as he often has in the past, either quietly thanking the guards or simply powering ahead in his speech.
Republicans now prefer Trump, 83 percent to 11 percent when that margin was 82-10 pre-convention. He ultimately backed Ryan on Friday after a tumultuous week of intra-party fighting.
Trump, whose campaign has been marred by controversy from the beginning, has fallen behind his Democratic rival Hillary Clinton in national polls. On Monday, he obliged, accusing her of jilting American workers and coming up short on promises to constituents.
He said he would “bring back trillions of dollars from American businesses that are now parked overseas” with applying a 10-percent tax, and reinvested the money in states like MI that had serious problems.
“It’s never too late to do the right thing, and America deserves much better than either Donald Trump or Hillary Clinton can offer us”.
He says that he has been working on the plan with his daughter, Ivanka, who is one of his top advisers. She will give her economic speech in MI on Thursday.
“You know that old saying: Fool me once, shame on you, fool me twice, shame on me”, she said.
Trump also would reduce federal regulations that he blames for stifling economic activity.
He also pledged to levy a one-off 10 per cent tax on trillions of dollars in corporate profits now parked overseas in a bid to lure them home.
But a host of independent groups crunching the numbers soon concluded otherwise. He’s calling for cutting business taxes, eliminating regulations and boosting domestic energy production. At the moment, parents can deduct a maximum of $6,000 for child care expenses for two (or more) children from their federal income taxes. He cited comments made by Virginia Gov. Terry McAuliffe during the Democratic National Convention that he expects Clinton to change her position on the Asia-Pacific trade deal and support it if she’s elected to the White House. Trump hasn’t revealed many details about the plan, but the message is clear: Trump wants to look family friendly.
Former President Bill Clinton, appearing on behalf of his wife and Democratic presidential nominee Hillary Clinton, will address thousands of Asian-American and Pacific Islander voters at a forum in Las Vegas.
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Jill Colvin reported from New Jersey.
