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Thomas Gallatin / August 9, 2016

Trump Touts America First Economic Plan

He lays out an economic plan of cutting taxes and regulations.

Donald Trump was in Detroit Monday and delivered a stirring speech outlining his plan for renewing the stagnating American economy. He began by giving a brief history of the city of Detroit, from its once grand status as the economic engine of America’s great prosperity throughout much of the 20th century to the now moribund and dilapidated shell it has become today. Trump placed the blame for this economic collapse where it belongs — squarely on the socialist policies of Democrats who for a half century lead Detroit into ruin. He said it exactly right: “The city of Detroit is 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.”

He then pivoted into laying out his economic plan by pushing his “America first” strategy. Trump called for an “across-the-board income tax reduction” to the rates favored by House Republicans — 12%, 25% and 33%. That’s three brackets instead of the current seven. Furthermore, he said, “Under my plan, no American company will pay more than 15% of their business income in taxes. Small businesses will benefit most from this plan. Hillary Clinton’s plan will require small business to pay as much as three times more in taxes than what I am proposing.” He also promised to “cut regulations massively” because regulations are “a hidden tax on American consumers, and a massive lead weight on the American economy.”

“Americanism, not globalism, will be our new credo,” Trump declared, as he laid out his vision for the future. He continued by painting a picture of America freed from government over-regulation where Americans would rise to the top of the world, and their industrious nature would be allowed to thrive once again in creating and developing a bright economic future. He said, “We will put new American metal into the spine of this nation. It will be American hands that rebuild this country, and it will be American energy — mined from American sources — that power this country. It will be American workers who are hired to do the job.”

Finally, Trump pointed to the current Washington governmental practice being endemic with political cronyism. “We can’t fix a rigged system by relying on the people who rigged it in the first place. We can’t solve our problems by relying on the politicians who created them. Only by changing to new leadership, and new solutions, will we get new results. We need to stop believing in politicians, and start believing in America,” he concluded.

If he’ll stick to this message of hitting the Obama-Clinton economic malaise while promising something better, he stands a real chance in November.

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