Billionaire businessman and Republican presidential nominee Donald Trump delivered a speech on hiseconomic policy proposals to the Detroit Economic Club on Monday, with the key refrain of all the policies being “America first.”
“When we abandoned the policy of America First, we started rebuilding other countries instead of our own,” declared Trump. “The skyscrapers went up in Beijing, and in many other cities around the world, while the factories and neighborhoods crumbled in Detroit. Our roads and bridges fell into disrepair, yet we found the money to resettle millions of refugees at taxpayer expense.”
According to The Sean Hannity Show, one of the first major proposals of Trump was a 15 percent corporate tax rate, regardless of the size of the business. Lowering the tax from the current rate of 35 percent would make American businesses more competitive globally and would encourage businesses to stay in America instead of moving to other countries.
Trump also proposed streamlining the income tax system, reducing the structure down to three main brackets: 33 percent, 25 percent and 12 percent, with the poorest Americans paying nothing.
He called for an end to the terrible estate tax, more accurately known as the “death tax,” a punitive tax that disproportionately falls on the surviving family members of a deceased individual, at times forcing them to sell a business or property in order to raise the funds required by the tax.
In regard to international trade, Trump proposed a re-negotiation of NAFTA to gain better terms for America and insisted that he would have no part in the Trans-Pacific Partnership.
Trump also discussed repealing Obamacare, which has hurt businesses significantly, as well as rolling back some of the more restrictive regulations placed on energy production in this country.
Trump’s speech was very well received by a number of people. In fact, campaign surrogate and former speaker of the House Newt Gingrich called the speech a “home run.”
Trump hit a home run today with his economic speech. This should end media complaints about lack if details. A vivid pro growth speech.
— Newt Gingrich (@newtgingrich) 8 August 2016
Noted economist Steve Forbes was also impressed by the speech, penning an article that drew clear distinctions between Trump’s economic proposals and those put forward by Democrat presidential nominee Hillary Clinton.
Forbes wrote that while Clinton would raise taxes and increase regulations on businesses of all types and sizes, Trump would cut taxes and roll back regulations in such a way that he “will help create a positive environment for business investing,” something that has been decidedly lacking the past several years.
Trump also received praise from a number of congressmen, senators and business associations, who appreciated the fact that he put forward real solutions for the problems our nation faces with actual details of what he would do to fix them.