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Every policy that has failed Forgotten America is a policy supported by Hillary Clinton

Donald Trump’s speech to the Economic Club of Detroit was another clarion call to America’s forgotten working families to vote for Trump – and it was also another reminder that, despite the establishment media narrative to the contrary, there is real substance to the Trump vision for America’s economic renewal. (Here is a link to the full text of the speech.) 

Donald Trump speechBut most importantly it was a reminder that every policy that has failed Detroit, and the rest of Forgotten America, is a policy supported by Hillary Clinton. 

Trump’s indictment of Clinton and, we might add the Republican establishment that has been complicit in these economic disasters is familiar to those who follow conservative economic issues, but largely unreported by the establishment media:

When we were governed by an America First policy, Detroit was booming. Engineers, builders, laborers, shippers and countless others went to work each day, provided for their families, and lived out the American Dream. 

But for many living in this city, that dream has long ago vanished. When we abandoned the policy of America First, we started rebuilding other countries instead of our own. The skyscrapers went up in Beijing, and in many other cities around the world, while the factories and neighborhoods crumbled in Detroit. Our roads and bridges fell into disrepair, yet we found the money to resettle millions of refugees at taxpayer expense. 

Today, Detroit has a per capita income of under $15,000 dollars, about half of the national average. 

40 percent of the city’s residents live in poverty, over two-and-half times the national average. The unemployment rate is more than twice the national average. Half of all Detroit residents do not work. 

Detroit tops the list of Most Dangerous Cities in terms of violent crime – these are the silenced victims whose stories are never told by Hillary Clinton, but victims whose suffering is no less real or permanent. 

In short, the city of Detroit is the living, breathing example of my opponent’s failed economic agenda. 

What’s different is Trump’s direct commitment to reverse those policies, something that you never heard from John McCain or Mitt Romney except in the most general terms. 

Taxes are one of the biggest differences in this race. 

Hillary Clinton, as Trump pointed out, has spent her career voting for tax increases and she plans another massive job-killing $1.3 trillion-dollar tax increase. 

Her plan would tax many small businesses by almost fifty percent and has not been bashful about saying she wanted to raise taxes on the middle class. 

Trump is proposing an across-the-board income tax reduction, especially for middle-income Americans.  

In a consumer-driven economy this will lead to millions of new good-paying jobs. 

Perhaps most importantly, Trump’s plan is focused on consumers and middle-income taxpayers, not Big Business and Wall Street. 

As part of this reform, he proposes to eliminate the Carried Interest Deduction and other special interest loopholes that have been so good for the Wall Street – Washington – Silicon Valley Axis, but unfair to American workers.  

Tax simplification, said Trump. will be a major feature of the plan. 

Donald Trump’s plan would reduce the current number of brackets from 7 to 3, and dramatically streamline the process.  

Interestingly, Trump committed to work with House Republicans on this plan, using the same brackets they have proposed: 12, 25 and 33 percent. For many American workers, said Trump, their tax rate will be zero. 

While we will develop our own set of assumptions and policies, agreeing in some areas but not in others, we will be focused on the same shared goals and guided by the same shared principles: jobs, growth and opportunity. 

These reforms, noted Trump, will offer the biggest tax revolution since the Reagan Tax Reform, which unleashed years of continued economic growth and job creation. 

Trump further pointed out that the average American worker today pays 31.5 percent of their wages to income and payroll taxes. On top of that, state and local taxes consume another 10 percent. 

The United States also has the highest business tax rate among the major industrialized nations of the world, at 35 percent noted Trump. 

With taxes at almost 40 percent when you add in taxes at the state level, Trump charged that “we punish companies for making products in America – but let them ship products into the U.S. tax-free if they move overseas.” 

“This is backwards,” said Trump. “All of our policies should be geared towards keeping jobs and wealth inside the United States.” 

And of course he’s right – and more importantly, Hillary Clinton has no answer to his indictment. 

Under Donald Trump’s plan, no American company will pay more than 15% of their business income in taxes.  

Small businesses will benefit the most from this plan, noted Trump. Hillary Clinton’s plan will require small business to pay as much as three times more in taxes than what Trump proposed, and her onerous regulations will put them totally out of business. (More on Trump’s plans for regulatory reform tomorrow.) 

As Trump pointed out, his proposal to lower business tax will also end job-killing corporate inversions, and cause trillions in new dollars and wealth to come pouring into our country. To help unleash this new job creation, Trump’s plan will allow businesses to immediately expense new business investments. 

Trump also announced a plan to bring back trillions of dollars from American businesses that is now parked overseas by applying a 10 percent tax, rather than the full corporate or capital gains rate. This money will be re-invested in states like Michigan, said Trump. 

Finally, said Trump, “no family will have to pay the death tax. American workers have paid taxes their whole lives, and they should not be taxed again at death – it’s just plain wrong. We will repeal it.” 

The Trump plan would also help reduce the cost of childcare by allowing parents to fully deduct the average cost of childcare spending from their taxes. 

No one will gain more from these proposals than low-and-middle income Americans and we are reminded once again of Trump’s first economic policy speech in Monessen, Pennsylvania:

But if we are going to deliver real change, we’re going to have to reject the campaign of fear and intimidation being pursued by powerful corporations, media leaks and political dynasties. The people who rigged the system for their benefit will do anything and say anything to keep things exactly the way they are. 

The people who rigged the system are supporting Hillary Clinton because they know as long as she is in charge, nothing is going to change. The inner cities will remain poor. The factories will remain closed. The borders will remain open. The special interests will remain firmly in control. Hillary Clinton and her friends in global finance want to scare America into thinking small. 

And later:

We allowed foreign countries to subsidize their goods, devalue their currencies, violate their agreements and cheat in every way imaginable, and our politicians did nothing about it. Trillions of our dollars and millions of our jobs flowed overseas as a result. I have visited cities and towns across this country where one-third or even half of manufacturing jobs have been wiped out in the last 20 years. Today, we import nearly $800 billion more in goods than we export. We can’t continue to do that. This is not some natural disaster, it’s a political and politician-made disaster. 

Donald Trump has it exactly right – the current economic disaster visited on America’s working families isn’t some natural disaster, it’s a political and politician-made disaster, and Hillary Clinton supported every bit of it. 

Click the link to read Donald Trump’s speech to the Economic Club of Detroit “AN AMERICA FIRST ECONOMIC PLAN: WINNING THE GLOBAL COMPETITION.” 

Tomorrow, more on Donald Trump’s speech to the Economic Club of Detroit: Regulatory reform.

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