trending Market Intelligence /marketintelligence/en/news-insights/trending/YleXvQq8wBbveXHj1Ww0JA2 content esgSubNav
In This List

Heated disputes on tax, economic policy open 1st presidential debate

Case Study

Identifying PPE Suppliers During the Pandemic

Blog

European Energy Insights - May 2021

Blog

Metals & Mining Insights May 2021

Blog

[Report]: 2021 Corporate Renewables Outlook


Heated disputes on tax, economic policy open 1st presidential debate

Tax, trade and broader economic policy dominated the earlyportion of the first presidential debate of the U.S. elections.

Republican presidential candidate Donald Trump emphasizedrepatriating manufacturing and other jobs that have moved overseas, whileDemocratic candidate Hillary Clinton described policies aimed at creating jobs.

One way to discourage U.S. companies from manufacturingproducts overseas would be to tax those products as they enter the country,Trump said.

"If you think you're going to make your air conditionersor your cars or your cookies … and bring them into our country without a tax,you're wrong," he said.

Countries like China that manipulate their currencies treatAmerica as a "piggy bank" to rebuild their own economies, Trump said.

In her response, Clinton pivoted to domestic tax policy,saying America "needs to have a tax system that rewards work and not justfinancial transactions."

Clinton called Trump's own income tax plan "trumped-uptrickle-down" economics. Cutting taxes on wealthier Americans has notimproved the economy in the past and will not work going forward, she said.

Clinton also accused Trump of rooting for the mortgagecrisis because it allowed him to buy property cheaply.

"That's called business, by the way," Trumpinterjected.

Later in the debate, Clinton accused her opponent of notpaying income taxes for years after Trump lamented the size of the federal debt.

"Maybe it's because you haven't paid any federal incometax for a lot of years," Clinton said.

"It would be squandered, too, believe me," Trumpresponded.

In her opening remarks, Clinton also said she wants morecompanies to implement profit-sharing programs, adding that workers that helpcreate corporate profit for executives should share in them more directly.

She also reiterated her position that individuals withcollege debt should be able to refinance that debt at lower rates.