A Quick Guide to the Presidential Candidates’ Stand on: The Economy

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We are six months away from the presidential elections, and it's crucial that Black women’s voices are heard. For the next few weeks, we’ll be taking a quick look at some of the most important issues on the ballot this season to make sure that you understand each candidate’s stand on the issues. This week, it’s all about the economy. 

Job growth is the name of the game for the Democratic frontrunner. Earlier this year, Clinton unveiled an economic plan that would tax companies who move their jobs overseas and eliminate any benefits that they receive for doing so. In turn, she said that she would offer tax incentives to corporations that divide its profits among its employees.

She has pushed for increasing the minimum wage—originally demanding $12, but later $15—and cutting taxes for working families while closing the “tax loophole” among wealthy individuals. She has vowed to invest in infrastructure and clean energy, which will both strengthen our society and create jobs. 

Though Clinton has been criticized for raising campaign dollars from various Wall Street financiers, she promises to impose fees and fines on high-risk corporations and hold firms as well as individuals accountable when they break the law.

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Somewhat surprisingly, Trump has promised to lower the tax bracket for the wealthier portion of Americans while offering tax breaks to the middle class and completely eliminating income taxes on Americans who make less than $25,000. However, upon closer examination, ThinkProgress found that Trump’s plan would have a minimal effect on the majority of Americans (according to its calculations, wealthy Americans would pay $400,000 less, while everyone else would pay just $200 less).

The Republican frontrunner has also vowed to impose higher tariffs in an effort to cut down on business transactions made from overseas and increase the number of jobs on American soil. While experts have said that that proposal could have some benefits, his insinuations of nixing and revamping trade agreements like NAFTA and the Trans Pacific Partnership could have detrimental effects on international relations. 

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Economists have pointed out that Sanders’ economic plan strongly resembles that of Denmark or Sweden, to which Sanders responded, “What’s wrong with that?” Since the beginning of his campaign, the Vermont senator has been outspoken about wealth inequality, calling it the “greatest political issue of our time” and promising to level the playing field if he were to be elected.

He has promised to impose strict taxes on the wealthy and large corporations and has pushed for a $15 minimum wage, which, he said, would eliminate poverty by 2040. Like Clinton, he wants to invest in infrastructure, which would create jobs, and negotiate international trade policies that have contributed to the outsourcing of jobs. 

Additionally, he wants to strip mega-corporations on Wall Street of their power, ensuring that no company is “too big to fail,” expand Social Security and invest federal money into youth jobs.

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Since Kasich, who is reportedly announcing that he will bow out of the presidential race later today, joined the campaign trail, he has been boasting of the economic success that Ohio has seen since he was elected governor. He has told his supporters that he created hundreds of jobs, provided tax relief to citizens and eliminated gaps in the budget. He hopes to bring that to the White House.

Kasich's plans for the country are modeled after the policies he has implemented within Ohio over the last five years. He has mentioned offering tax reliefs—or eliminating income taxes altogether—to small businesses, which would in turn create jobs. During a rally last year, he said that he would require the federal government to balance its budget and cut down on the number of tax brackets. 

Read more here.

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