On Wednesday, Clinton will propose spending the revenue raised by the “exit tax” to boost manufacturing jobs in the United States, according to campaign aides who spoke to the AP on condition of anonymity ahead of the official campaign announcement. Now Clinton is putting more heat on the industry, laying out a new proposal to curb corporate tax inversions weeks after Pfizer ($PFE) announced that it would merge with Allergan ($AGN) to reap the benefits of a lower tax rate. “I want the Treasury Department to do everything it can to stop that kind of behavior and call it for what it is: gaming the tax system”.
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Clinton’s manufacturing plan relies on some parts of economic development strategies devised during her husband Bill Clinton’s presidency from 1993 to 2000.
As Fortune reports, Clinton “has been criticized throughout her campaign, particularly by rival candidate Bernie Sanders, for having close ties to Wall Street”.
“The proper role of Wall Street is to help Main Street grow and prosper”, Clinton wrote.
“Nobody is arguing with that”, she said.
“We’re not winning, but it’s too soon to say that we are doing everything we need to do”, Clinton said, saying there could be additional steps on the air, ground and the internet.
“• Talked about how Americans see her as untrustworthy: “Obviously, I don’t like hearing that, George, but I think people who have worked with me, people who voted for me twice in NY, people I’ve had a very long relationship with and working on their behalf, are going to know what I do and when I say I’ll do it, I’ll move everything I can to get it done”.
Regarding Syria, where Israeli leaders have accused the Obama administration of insufficient investment in ending its civil war, Clinton echoed a key Israeli demand: That allied forces simultaneously work to defeat both the Assad regime, backed by Iran, and militant Islamist Sunnis.
Clinton, born just before Israel’s independence in 1948, said she belonged to a generation that thrilled to Israel’s successes, but that the admiration was receding.
Meanwhile, underneath strain from the banking business, a variety of principally Republican lawmakers have pushed to roll again reforms which have restricted the banks’ riskiest conduct and compelled them to construct giant capital cushions, at a price to profitability.
“• Said U.S. should not declare war on ISIS because it is a “legal term” and that only Congress has the authority to declare war”.
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But a Michigan State University economist has doubts about whether a new tax credit for manufacturers is really going to stem the tide of manufacturing production moving overseas given the rising value of the USA dollar. Companies like Facebook, Apple and Google have largely kept silent about encryption and privacy practices since Paris, though it seems unlikely that they’d reverse the increasingly advanced encryption tools they have been adding over the last couple of years. Since then at least 45 others companies have used the scheme to avoid paying almost $10 billion in USA taxes.
