Republican presidential candidate Donald Trump delivers an economic policy speech to the Detroit Economic Club.
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“As the Wall Street Journal noted, President Obama has issued close to 400 new major regulations since taking office – each with a cost to the American economy of $100 million or more”, Trump said.
Trump added that the Obama administration regulations and restrictions decreased USA energy jobs by at least “half a million”, and decrease personal incomes by up to $7,000 per person per year, citing a study by The Heritage Foundation.
About 10 women have individually stood up and shouted “Mr. Trump”, followed by questions that have been drowned out by boos.
His big tax reductions and abolition of death duties would blow a multi-trillion dollar hole in the budget deficit, according to the Tax Institute and other groups.
The Clinton campaign fired off a blast against the Trump plan Monday morning, arguing that it was rooted in big tax breaks for corporations and businesses and would likely lead to a recession.
More broadly, Trump will say he will not propose any new financial regulations until the economy shows “significant growth”, the aides said.
A recent EPIC-MRA poll found Democratic nominee Hillary Clinton leading Mr. Trump by 11 points in MI.
“This is about two choices – Donald Trump or Hillary Clinton”, he told reporters prior to Donald Trump’s speech given to members of the Detroit Economic Club and their guests Monday afternoon.
Trump did not miss an opportunity to capitalize on the protests, sending out a fundraising missive to supporters just hours after leaving the stage.
He denied being an isolationist, even as he vowed to renegotiate an existing free trade deal with Mexico set up by president Bill Clinton, abandon the “catastrophic” 12-country Trans-Pacific Partnership and threatened to slap tariffs on China for “currency manipulation” and theft of USA intellectual property.
He said he wants to simplify the tax code to three brackets – 12%, 25% and 33% of income. “We’ll make a phenomenal deal with the low interest rates”. The current corporate rate is 35 percent. He said the plan was to lower the corporate tax burden and encourage USA companies with operations overseas to repatriate profits at a reduced tax rate.
“We will build the next generation of roads, bridges, railways, tunnels, sea ports and airports that our country deserves”, he promised.
He said Clinton might publicly oppose the TPP ahead of the November election, but she would change her stance if she became president.
“This is a city controlled by Democratic politicians at every level, and unless we change policies, we will not change results”, he said.
“It will present a night and day contrast to the job-killing, tax-raising, poverty-inducing, Obama-Clinton agenda”.
Her campaign is already hitting back at Trump’s comments from Monday, pointing out that he has been campaigning for more than a year, and this is the first time he’s unveiling an economic plan.
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“We now begin a great national conversation about economic renewal for America”.
