In Detroit today, Donald Trump laid out his goals for the American economy.
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Although Clinton seems to have been helped by the Democratic unity at the convention, she also appears to have benefited from Trump’s criticism of the parents of a captain in the U.S. Army, Humayun Khan, who was killed in Iraq.
“I want to jump-start America”, Trump said, “and it won’t even be that hard”. It can be done.
“Every policy she has tilts the playing field toward other countries at our expense”, Trump said.
“Every policy she has tilts the playing field towards other countries at our expense, and that’s why she tried to distract us with exhausted political rhetoric that seeks to label us, divide us, and pull us apart”, says Trump. That should help satisfy the party base, if they believe him.
He would sharply reduce corporate tax to 15 percent from the current 35 percent, and set a 10 percent tax on what he described as trillions of dollars that U.S. businesses have “now parked overseas” but want to repatriate into the country.
Governor Pete Ricketts said that Clinton’s visit last week shows she is anxious about this election and now is the time to support Donald Trump and back the republican nominee. Five of the 13 are “major donors whose families combined to give Trump’s campaign and his joint fundraising account with the Republican Party more than $2 million”, and fundraisers have reportedly solicited donations from two others. After all, 67 percent of respondents say the real estate mogul does not have “the kind of personality and temperament it takes to serve effectively as president”, according to a ABC News/Washington Post poll released Sunday ― while 6 in 10 respondents say Clinton does.
That’s not great news for Trump. “Massively”, he said for emphasis.
Freezing all pending federal regulations would include many Wall Street regulations created by the Dodd-Frank legislation passed in the wake of the financial crisis. But he fought the urge to extend that toughness to the protesters who interrupted his speech.
THE FACTS: The plan is expected to raise electricity rates, but by investing in and incentivizing energy efficiency programs, the EPA says it will lower overall consumer bills by 8 percent – around $8 a month – when the plan is fully implemented in 2030. Trump has blasted Clinton’s stance on trade deals, painting her as changing positions for political gain. He highlighted the setbacks Detroit has suffered and argued that Clinton’s policies on trade, crime, immigration and education have hurt the city and threaten to hurt the country. “100 percent”, he said.
The GOP nominee continued to leave large question marks about how he would pay for his plans and avoid ballooning the federal budget deficit. The plan risks favoring the higher-income taxpayers who most rely on itemized deductions, but the absence of specifics left the impact unclear.
But adding a tax deduction for child care will have a cost.
When Trump speaks in Detroit, he is expected to reiterate his plan for reducing the corporate tax rate to 15 percent from the current 35 percent – in an effort to draw new investment – as well as eliminating the estate tax and calling for a temporary moratorium on new regulations. He also sees a big loophole for the wealthy in Trump’s plan for “pass-through” income.
Anti-Trump Republican operative Rory Cooper also wasn’t swayed.
In his remarks, Trump said he would offer more details in the coming weeks. “When we were governed by the America first policy, Detroit was absolutely booming …”
“At some point, you can’t live in a world completely divorced from economic reality”, said Edward Kleinbard, a business and law professor at University of Southern California.
Reporter: The Republican establishment is nervous that Trump’s candidacy will hurt them in Congressional elections.
He hammered Clinton for her support for the North American Free Trade Agreement and predicted that she will approve the Trans-Pacific Partnership if she’s elected. Instead of the preferred “I”, when drawing a distinction with his Democratic rival Hillary Clinton, Trump said: “She is the candidate of the past”.
As secretary of state, Clinton praised TPP.
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“Three cheers for getting rid of the death tax”, Ryan spokeswoman AshLee Strong wrote on Twitter during Trump’s speech. “For many American workers, their tax rate will be zero”, Trump said, adding that it would be “the biggest tax revolution since the Reagan Tax Reform” in 1980s. In Trump’s estimation, those have failed. To stem illegal immigration, he said he would build a wall along the USA southern border with Mexico.
