Clinton vows to push for broader business tax reform

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Press Trust of India Washington
Last Updated : Jul 14 2015 | 2:13 PM IST
Democratic presidential hopeful Hillary Clinton has called for building a "growth and fairness" economy that is inclusive as she vowed to push for broader business tax reform to spur investment in America.
"We have to build a growth and fairness economy. You can't have one without the other," Clinton said as she unveiled the economic policies of her presidential campaign.
The 67-year-old former Secretary of State, who announced her second presidential bid in May, would be the first woman president of the United States if elected November next year.
"We can't create enough jobs and new businesses without more growth, and we can't build strong families and support our consumer economy without more fairness. We need both," she argued yesterday.
"While America standing again, we are not yet running the way we should. Corporate profits are at near record highs and Americans are working as hard as ever. But paychecks had nearly budged in real terms. Families today are stretched in so many directions, and so are their budgets. Out of pocket costs of health care, child care, hearing for aging parents, are rising a lot faster than wages," she said.
Clinton said advances in technology and expanding global trade have created new areas of commercial activity and opened new markets for US exports.
"Too often they are polarizing our economy, benefiting high skilled workers, but displacing and downgrading blue-collar jobs and other mid-level jobs that used to provide solid incomes for millions of Americans," she said.
Proposing an agenda to raise incomes for Americans, for strong, fair growth and long-term growth, Clinton said she wants to see the US economy work for the struggling, the striving and the successful.
"I will push for broader business tax reform to spur investment in America, closing those loopholes that reward companies for sending jobs and profits overseas," she said, adding that comprehensive immigration reform should be another engine of strong growth.
Observing that inequality is a drag on the entire economy, Clinton said she would crack down on those who exploit employees by mis-classifying them as contractors or even steal their wages.
Clinton pledged to make prescription drugs more affordable and also supported the Buffet rule.
"Hard-working families need and deserve tax relief and simplification. Those at the top have to pay their fair share. That's why I support the Buffet Rule, which makes sure millionaires do not pay lower rates than their secretaries. I have called for closing the carried interest loophole, that lets wealthy financiers pay an artificially low rate," she said.
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First Published: Jul 14 2015 | 2:13 PM IST

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