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Published On: Wed, Aug 10th, 2016

TRANSCRIPT: Donald Trump’s economic, tax plan speech in Detroit

 

Today, I will outline my economic vision. In the coming weeks, we will be offering more detail on all of these policies, and the ones we have already rolled out can be viewed on my campaign website.

Our opposition, on the other hand, has long ago run out of ideas. All Hillary Clinton has to offer is more of the same: more taxes, more regulations, more bureaucrats, more restrictions on American energy and American production.

If you were a foreign power looking to weaken America, you couldn’t do better than Hillary Clinton’s economic agenda.

Photo/donkeyhotey donkeyhotey.wordpress.com

Photo/donkeyhotey donkeyhotey.wordpress.com

Nothing would make our foreign adversaries happier than for our country to tax and regulate our companies and our jobs out of existence.

The one common feature of every Hillary Clinton idea is that it punishes you for working and doing business in the United States. Every policy she has tilts the playing field towards other countries at our expense.

That’s why she tries to distract us with tired political rhetoric that seeks to label us, divide us, and pull us apart.

My campaign is about reaching out to everyone as Americans, and returning to a government that puts the American people first.
Here is what an America First economic plan looks like.

First, let’s talk tax reform.

Taxes are one of the biggest differences in this race.

Hillary Clinton – who has spent her career voting for tax increases – plans another massive job-killing $1.3 trillion-dollar tax increase. 9 Her plan would tax many small businesses by almost fifty percent.

Recently, at a campaign event, Hillary Clinton short-circuited again – to use a now famous term – when she accidentally told the truth and said she wanted to raise taxes on the middle class.

I am proposing an across-the-board income tax reduction, especially for middle-income Americans. This will lead to millions of new good-paying jobs.

The rich will pay their fair share, but no one will pay so much that it destroys jobs, or undermines our ability to compete.

As part of this reform, we will eliminate the Carried Interest Deduction and other special interest loopholes that have been so good for Wall
Street investors, and people like me, but unfair to American workers.

Tax simplification will be a major feature of the plan.

Our current tax code is so burdensome and complex that we waste 9 billion hours a year in tax code compliance. My plan will reduce the current number of brackets from 7 to 3, and dramatically streamline the process. We will work with House Republicans on this plan, using the same brackets they have proposed: 12, 25 and 33 percent. For many American workers, 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 will offer the biggest tax revolution since the Reagan Tax Reform, which unleashed years of continued economic growth and job creation.

We will Make America Grow Again.

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