In the broadest terms you can break the Republicans and Democrats into two camps. Republicans want to stimulate growth for the economy by cutting taxes and encouraging businesses to hire new people. Democrats, on the other hand, want to raise taxes to fund government programs that give hand outs to people.
Over the last eight years, we’ve seen how poorly the democrats’ approach has worked. Despite massive spending by the Obama administration, our economy is in shambles. Jobs are being sent overseas at a breakneck pace. Taxes are so high, many businesses are closing or looking to other countries to move their corporate headquarters.
And that’s not even mentioning Obamacare.
The New York Times published an insightful opinion piece about how Donald Trump’s economic plan will reverse these problems, comparing it to the destructive approach of Hillary Clinton.
Yes the Times published an article praising Trump (yet it is not easily viewable from their main page).
Donald J. Trump has campaigned very clearly for change — a policy upheaval to promote faster growth, repair the economic stagnation and end the corrupt pay-to-play system that favors the well heeled. Hillary Clinton has pledged to extend and build on the policies of the Obama administration.
The article, penned by one of Trump’s economic advisors, clearly explains the two candidate’s plans for our economy. It lists how Trump’s tax breaks for the middle class and plans to simplify the tax code will rejuvenate our economy and help foster growth. Clinton’s, on the other hand, will continue Obama’s broken path of higher taxes and punishing the most successful.
To restart growth, Mr. Trump would immediately lower tax rates, including for middle-income voters, and simplify the tax code. Americans would be able to exempt average child-care expenses from taxes, and Mr. Trump’s administration would eliminate the death tax, which falls especially hard on some small businesses and farmers.
To help create a flood of new business investment and jobs, the Trump plan would reduce corporate tax rates to 15 percent while eliminating or capping many tax deductions. This would simplify the tax system, making us much more competitive with countries and a magnet for new jobs.
Mrs. Clinton wants to go in the opposite direction, depressing job growth with an uncompetitive corporate tax rate, higher taxes on estates and short-term capital gains, and a 4 percent surtax on the most successful individuals.
When it comes to the economy, Trump has always had the upper hand. He is a successful businessman who turned a small investment from his father into a billion dollar enterprise. The only thing Hillary has been able to do with money is steal it from special interests.
The article is well worth a full read. The next time your liberal co-workers start to squawk about Trump, you’ll have clear ammunition to put them in their place.
Source: The New York Times