Trump details plans to Make America Great Again

August 8, 2016 in News by RBN Staff



Calls for sweeping tax cuts, regulation reductions to revive economy

WASHINGTON – Donald Trump detailed his plan to “Make America Great” again in a major speech on the economy, declaring, “I want to jump-start America. It can be done, and it won’t even be hard.”

The major feature was his promise that many Americans would have their tax rate reduced to zero. Trump said no one would benefit from his plan more than middle- and low-income Americans.

Trump said it was time to begin a great national conversation about economic renewal, “especially, especially for those who have the very least.”

He promised to help relieve the financial burden on families “by allowing parents to fully deduct the average cost of childcare spending from their taxes.”

Trump called for an end to the estate tax, also called the death tax, saying, “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.”

Another big promise was to “immediately cancel all illegal and overreaching executive orders,” upon taking office as president.

After becoming embroiled in controversy over the last few weeks, then rebounding after taking a dip in the polls, the Republican presidential candidate refocused his campaign Monday on the issues. He delivered a speech that outlined sweeping proposals, primarily on the economy and providing help for working-class families.

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Trump chose to give the speech in Detroit as a symbol of the nation’s manufacturing decline. He noted the city was booming when the country was “governed by an America-first policy, but for many living in this city, that dream has long ago vanished,” since the nation “started rebuilding other countries instead of our own.” He said Detroit symbolized the failed policies of his opponent, Hillary Clinton.

Trump proposed tax cuts across the board, “especially for the middle class.” He said “the rich will pay their fair share, but no one will pay so much that it destroys jobs, or undermines our ability to compete.” He said his tax cuts would “lead to millions of new good-paying jobs.”

Trump said he will “work with House Republicans on this plan, using the same brackets they have proposed: 12, 25 and 33 percent.”

He reiterated his call for reducing the corporate tax rate from 35 percent to 15 percent to stimulate business growth. He said that will encourage American companies doing business overseas to come back home.

The candidate said tax simplification will be a major feature of his plan because the current code is so complex, “we waste 9 billion hours a year on tax-code compliance.” Trump proposed to reduce the number of current tax brackets from seven to three and promised to dramatically streamline the process.

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

He noted, “The average 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.”

He also said the United States has the highest business tax rate among the major industrialized nations of the world at 35 percent, “almost 40 percent, when you add in taxes at the state level.”

“In other words, 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 backward. All of our policies should be geared toward keeping jobs and wealth inside the United States.”

He said his plan would bring back trillions of dollars from American businesses that is now “parked overseas.”

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Trump said he would cut regulations “massively.” He also called for a temporary moratorium on new federal regulations. Many conservatives believe the enormous number of existing regulations are a crushing burden on small businesses and have stunted the country’s economic growth.

Trump vowed to “ask each and every federal agency to prepare a list of all of the regulations they impose on Americans which are not necessary, do not improve public safety, and which needlessly kill jobs. Those regulations will be eliminated.”

His plan also calls for the removal of bureaucrats and their replacement by “experts who know how to create jobs.”

Trump promised to withdraw America from the Trans-Pacific Partnership, or TPP, trade deal unless it is reworked. He said the deal, which Clinton supports, would hurt automakers even more than NAFTA, which sent many jobs and companies to Mexico. He also pledged to rework existing trade deals that hurt the American economy, and he cited a list of ways in which he said China violates existing agreements.

Trump promised to immediately repeal and replace Obamacare, “saving two million American jobs.” He said he would outline specifics on that in a future speech.

He called for a revival of the Keystone pipeline and a dramatic expansion of new energy development, which he said would unleash an economic boom.

The businessman said lifting restrictions on American energy would increase gross domestic product annually by $100 billion, create 500,000 new jobs and increase wages by over $30 billion over the next seven years.

He said that would also increase federal, state and local tax revenues by almost $6 trillion over four decades

Trump called for an end to the Department of Interior’s moratorium on coal-mining permits, which he said put tens of thousands of coal miners out of work.

He also scorched Clinton for promising to kill coal-mining jobs. And he promised to cancel the Paris Climate Agreement, which imposes numerous economic burdens to battle supposed global warming.

Trump targeted his opponent’s economic policies, saying Clinton would tax and regulate American companies out of business.

He said she “short-circuited” again and accidentally told the truth by promising to raise taxes on the middle class, and he blasted her proposal to increase taxes by $1.3 trillion.

The Republican called the nomination of a Washington outsider more historic than the Democrat’s nomination of an insider, and that, “She is the candidate of the past. Ours is the campaign of the future.”

“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,” he observed.

“If you were a foreign power looking to weaken America, you couldn’t do better than Hillary Clinton’s economic agenda,” said Trump, adding, “Nothing would make our foreign adversaries happier than for our country to tax and regulate our companies and our jobs out of existence.”

He also called the city of Detroit “the living, breathing example of my opponent’s failed economic agenda. Every policy that has failed this city, and so many others, is a policy supported by Hillary Clinton.”

It was Trump’s first speech on the economy after announcing last week he had appointed a team of 13 economic advisers.

Trump did not propose to raise the minimum wage or provide paid family leave, and the Clinton camp immediately attacked him on those two issues.

Prior to the speech, the GOP candidate had become involved in a controversy when Democrats and the media accused him of attacking a Muslim father who lost his son fighting for the U.S. military in Iraq in 2004. Khizr Khan spoke at the Democratic National Convention, waved a copy of the Constitution and taunted Trump to read it. Since then, it has been revealed Khan has previously written in support of Shariah law over other laws.

The Republican nominee concluded his speech in Detroit by saying, “America is ready to prove the doubters wrong. They want you to think small. I am asking you to think big. We are ready to dream great things for our country once again.”