HFA Statement on Latest Analysis of Trump’s Tax Plan

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In response to new reports on the Hillary Clinton and Donald Trump tax plans from the Tax Policy Center, Hillary for America Senior Policy Advisor Jacob Leibenluft released the following statement:

“This report is further evidence of the clear choice for voters in this election. According to an independent analysis, Hillary Clinton’s plan would provide middle-class tax relief and pay for investments in good-paying jobs by requiring the wealthy, Wall Street and large corporations to pay their fair share. Donald Trump’s plan is the most extreme form of trickle-down economics: adding more than $20 trillion to the debt over the next two decades by providing massive giveaways to the richest Americans. In fact, the report shows Trump will give as much tax relief to the top 1% as everyone else combined – even as he raises taxes on millions of working families with children. And what’s more, the Tax Policy Center has exposed a lie Trump told at Sunday night’s debate: while Clinton would close the carried interest loophole that allows Wall Street money managers to pay a lower rate than many middle-class families, Trump’s plan would actually make that loophole even worse.”

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Bill Clinton and Senator Bernie Sanders Campaign for Hillary

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On Saturday, Bill Clinton campaigned for Hillary Clinton in Wisconsin at an event in Greenfield. Speaking at a local union hall, Bill spoke about a number of Hillary’s key platform points including her plans to raise the minimum wage, lower the cost of higher education, and build the middle class. He framed Hillary as the candidate that will help those who have been “left out and left behind.” He spoke about the importance of continuing the progress made over the last few years and said Hillary is the only candidate who will continue to the accomplishments of the current administration. A video of Bill’s speech will be posted when/if available.

Senator Bernie Sanders, meanwhile, remained on the campaign trail attending two events in Pennsylvania. Sanders’ first event was in Scranton where he spoke to a group of supporters at Scranton High School. During his speech, he said that Hillary will fight for equal pay for women, the expansion of health care, laws that ensure the “billionaire class” pays its fair share of taxes, and a reduction in the cost of higher education. Sanders also referred to Hillary’s opponent, Donald Trump, saying, “We cannot elect a president of the United States whose cornerstone of his campaign is bigotry and dividing us up. We have struggled for too many years, too many people have stood up and fought and some have died… we are not going back to those days.” A video of Sanders’ speech is below.

In Philadelphia, Sanders spoke about the same platform points during his speech, but he also underscored the importance of electing Hillary over Trump. This is especially true following the release of an audio recording that captured Trump using crude and derogatory language to describe women. Sanders went after Trump saying, “I think you’ve got a spoiled brat. I think you’ve got a person who grew up very very wealthy who thinks that he is entitled to do anything that he wants.” He said that Trump’s comments were inexcusable, and he needs “to take responsibility for his own actions.” A video from the Philadelphia rally is below.

Meanwhile, in Raleigh, North Carolina, a fundraiser was held on behalf of Hillary for America at the home of Dr. Ken and Tijuana Crosby. The event featured a conversation with the Little Rock 9: Ernest Green, Carlotta Walls LaNier, and Terrence Roberts.

For all the latest, follow our Scheduled Events page and follow Clinton on TwitterFacebookYouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

News Source: McClatchy DC, Sioux City Journal, The Times-Tribune, CBS Philly

Senators Bernie Sanders and Elizabeth Warren Campaign for Hillary

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Senator Bernie Sanders remained on the campaign trail on behalf of Hillary Clinton on Friday with events in New Hampshire and Maine. In New Hampshire, Sanders spoke at rallies in Keene and Nashua. During each event, he spoke about Hillary Clinton’s plans to continue economic growth, create new jobs by investing in infrastructure and manufacturing, increase the minimum wage, reform the criminal justice system, and reduce the cost of higher education. Sanders also criticized Republican Donald Trump for his divisive language and his policies that benefit the wealthy. A video from his speech in Keene is below.

Sanders’ final event was in Bangor, Maine where he urged voters to look beyond the personalities of the two presidential candidates and focus on the issues. He argued that only Clinton’s plans would benefit the middle and working classes. Sanders blasted trump for running a bigoted and insult-driven campaigning adding, “When you run for president of the United States, there has got to be at least a minimum threshold of decency.” A video from the Bangor event is below.

Senator Elizabeth Warren campaigned in Wisconsin where she spoke in support of Clinton and US Senate hopeful Russ Feingold. At her first stop in Madison, Warren spoke about the importance of voting in the upcoming election and the platform of Clinton. She also spoke about the importance of electing Clinton president and Feingold to the Senate so they can continue the progress made over the last eight years and continue with a progressive agenda. Warren has not been shy of her criticism of Trump, and she did not back off in Madison. She called him a “pathetic, heartless bully” and a “selfish little sleazeball.” A video of Warren’s speech is below.

Her second event was in Milwaukee where she urged voters to get out and support the campaign by volunteering and ensuring that people are informed. She also urged voters to take advantage of early voting if they are unable to make it to the polls on November 8. Warren’s speech was similar to the one she gave in Madison early in the day in which she outlined key parts of Clinton’s platform and called out Trump. A video from the event will be added when/if available.

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Meanwhile, in Boston, Massachusetts, a fundraiser was held on behalf of Hillary for America. The event featured a conversation with Marc Elias.

For all the latest, follow our Scheduled Events page and follow Clinton on TwitterFacebookYouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

News Source: WMUR, Portland Press Herald, The Cap Times, Journal Sentinel, WISN

Hillary For America’s Response to Trump’s Inaccurate Ad

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On Thursday, Hillary for America responded to an ad from Donald Trump that characterized a number of Trump’s key policies. Hillary for America Deputy Communications Director Christina Reynolds responded to the ad with the following statement and breakdown of the claims made.

“Another day, another false ad from Trump. The truth is Trump’s plan actually raises taxes on millions of middle class families, especially working single moms and dads, and showers the wealthy with huge tax cuts. Hillary Clinton has pledged not to raise taxes on the middle class and will work to build an economy that works for everyone, not just those at the top. This stands in strong contrast to Donald Trump, who apparently did not pay a cent in federal income taxes for nearly 20 years and is now trying to hide the fact that his economic plan represents a huge boon to the very wealthy.”

TRANSCRIPT

TRUMP RECORD

VOICEOVER: What does electing Donald Trump president mean for you? Families making $60,000 a year? You get a 20% tax rate reduction.

SUPER: Donald J. Trump Tax Plan, DonaldJTrump.com

MILLIONS OF FAMILIES, INCLUDING SINGLE PARENTS, WOULD SEE TAX INCREASES UNDER TRUMP’S TAX PLAN

Washington Post: “More Than Half Of America’s Single Parents And One-Fifth Of Its Families With Children Could See Their Federal Income Taxes Go Up Under Republican Donald Trump’s Revamped Tax Plan.” “More than half of America’s single parents and one-fifth of its families with children could see their federal income taxes go up under Republican Donald Trump’s revamped tax plan, according to a new analysis of the plan by a New York University professor who previously served as a tax specialist for the Obama administration and the Senate Finance Committee.” [Washington Post, 9/24/16]

Washington Post: “The Analysis Estimates That More Than Half Of Single Parents Would See Tax Increases.” “The analysis estimates that more than half of single parents would see tax increases, because Trump eliminates what is called ‘head of household’ filing status, which gives single parents a higher standard deduction and lower rates than they otherwise would have had. Other researchers have also flagged that possibility. ‘Single parents get hit with all three of the tax increases under Trump’s plan’ — the loss of personal deductions, the loss of head-of-household status and higher rates on some income — said Harry Stein, the director of fiscal policy for the liberal Center for American Progress Action Fund, who has written about the potential effects of the Trump plan.” [Washington Post, 9/24/16]

POLITIFACT SAID IT WAS TRUE TO SAY EXPERTS FOUND TRUMP’S TAX PLAN COULD RAISE TAXES ON SOME MIDDLE CLASS FAMILIES

PolitiFact Said Hillary Clinton Was Correct In Saying Independent Experts Found Trump’s Tax Plan Would Add $5 Trillion To The Debt And Disadvantage Middle Class Families. “Clinton said that, according to ‘independent experts,’ Trump’s tax plan ‘would blow up the debt by over $5 trillion and would in some instances disadvantage middle-class families compared to the wealthy.’ Batchelder’s past work for Senate Democrats and the Obama White House may lead some to question whether she is an ‘independent expert.’ But her estimate of the debt increase was mirrored by findings by the more conservative Tax Foundation and the deficit-hawk Committee for a Responsible Federal Budget. And the Tax Foundation said Batchelder’s analysis of tax increases for some families seemed ‘reasonable.’ We rate Clinton’s statement True.” [PolitiFact, 9/27/16]

VOICEOVER: Working moms? You get paid maternity leave and an average $5,000 childcare tax reduction. TRUMP’S MATERNITY LEAVE POLICY WOULD LEAVE OUT SINGLE MOTHERS, FATHERS AND ADOPTIVE PARENTS

Ivanka Trump Said Her Father’s Paid Maternity Leave Was Meant To Help “The Mother Who Has Given Birth To The Child If They Have Legal Married Status Under The Tax Code.” Q: “OK, so when it comes to same-sex—” IVANKA TRUMP: “So it’s meant to benefit, whether it’s in same-sex marriages as well, to benefit the mother who has given birth to the child if they have legal married status under the tax code.” Q: “Well, what about gay couples, where both partners are men?” IVANKA TRUMP: “The policy is fleshed out online, so you can go see all the elements of it. But the original intention of the plan is to help mothers in recovery in the immediate aftermath of childbirth.” [Cosmopolitan, 9/14/16]

Trump’s Plan Specifically Provides Leave To Mothers, Not To Fathers Or To Those Who Need Paid Leave To Care For A Seriously Ill Family Member. “What about dads? The plan applies to women — specifically, mothers. It doesn’t apply to fathers or those who have to care for a family member with a serious illness, unlike the existing federal legislation. ‘Trump frames it as maternity leave. We don’t target a specific gender under the family paid leave program in the U.S. It’s available to a families as a whole,’ noted Mathur.” [NBC News, 9/14/16]

TRUMP’S CHILD CARE PLAN PROVIDES A DEDUCTION UP TO A STATE’S AVERAGE COST OF CHILD CARE – NOT A REDUCTION OF $5,000

Trump Campaign: “The [Childcare] Deduction Would Be Limited To The Average Cost Of Child Care… The Deduction Would Be Limited To $5,000 Per Year.” “The exclusion would apply to a variety of different kinds of childcare—institutional, private, nursery school, afterschool care, and enrichment activities—affording choice to parents. The deduction would be limited to the average cost of childcare in the state of residence for the age of the child. […] Similarly, the Trump plan would also allow an above-the-line deduction for eldercare costs necessary to keep a family member working outside the home. It would apply to costs like home care or adult day care costs for elderly dependents when those expenses are needed to keeping family members in the workforce. The deduction would be limited to $5,000 per year.” [Donald Trump Childcare Plan, accessed 10/6/16]

A FAMILY MAKING $60,000, SUBJECT TO A 15% INCOME TAX RATE, WOULD SAVE $750 – BECAUSE 15% OF $5,000 IS $750

Joint Filers Making $60,000 Are Subject To A 15% Tax Rate. [Internal Revenue Service, accessed 10/6/16]

TRUMP’S CHILD CARE PLAN WOULD HELP THE RICH FAR MORE THAN THE MIDDLE CLASS

Under Trump’s Plan, Wealthy Families Making $500,000 A Year Would Get A Child Care Tax Break Over 2.6 Times Larger Than The One A Family Making $60,000 Would Get. “The centerpiece of Trump’s child care plan is a tax deduction, which is simply the wrong policy for making child care affordable, since it will always offer the most help to those who need it the least. For example, under Trump’s plan, wealthy families making $500,000 would get a child care tax break that is 2.64 times larger than the same tax break for a family making $60,000. Put another way, Trump would give the wealthy family a tax deduction worth $39.60 for every $100 they pay for child care, since they are in the 39.6 percent tax bracket. Meanwhile, the middle-class family in the 15 percent tax bracket would get a tax deduction worth only $15 for every $100 spent on child care. Even if the middle-class family spends the same amount as the wealthy family for child care, the wealthy family’s tax cut is much larger.” [Harry Stein, US News, 9/14/16]

TRUMP’S CHILD CARE PLAN WILL “BARELY MAKE A DENT” IN THE CHILD CARE COSTS OF FAMILIES WHO DON’T PAY INCOME TAXES

Trump’s Child Care Tax Deduction Wouldn’t Help The 44 Percent Of Families That Don’t Pay Income Taxes, And Trump’s Solution To That, An Annual Rebate “Will Barely Make A Dent” In Most Child Care Bills. “And tax deductions do nothing for the 44 percent of families that don’t earn enough to pay income taxes. Trump’s solution for accommodating these lower-income families is to offer a rebate of $1,200 per year. With average child care expenses exceeding the cost of rent and college tuition in most states, this rebate will barely make a dent in most families’ child care bills.” [Vivien Labaton, CNBC, 9/14/16]

TRUMP’S TAX DEDUCTIONS WOULDN’T HELP FAMILIES PAY CHILD CARE COSTS ON A WEEKLY OR MONTHLY BASIS

Trump’s End-Of-Year Tax Break Wouldn’t Help Families That Pay Child Care Costs On A Weekly Or Monthly Basis. “Second, most families have to pay their child care provider weekly or monthly, so an end-of-year tax break is no help. Trump’s child care plan assumes parents can pay thousands of dollars up-front each month to even qualify for his deduction, and then wait up to a year to get reimbursed. When you’re struggling every week to make ends meet, an end-of-year deduction or rebate is too little too late.” [Vivien Labaton, CNBC, 9/14/16]

TRUMP CLAIMED HE OFFERED CHILD CARE FOR HIS EMPLOYEES, BUT IT WAS ACTUALLY A PROGRAM FOR RESORT GUESTS TO GET AMENITIES LIKE CHILD SPA SERVICES

“Trump Kids” And “Trumpeteers” Were Programs For Guests Of Trump’s Hotels And A Golf Club, Not His Employees. “The billionaire real estate mogul, who previously voiced his opposition to government-funded universal pre-K programs, said in Newton, Iowa, in November 2015 that he had visited many companies that offered workers on-site child-care centers — and added that he offered such programs himself. […] Trump pointed specifically to two programs: ‘They call ’em Trump Kids. Another one calls it Trumpeteers, if you can believe it. I have ’em. I actually have ’em, because I have a lot of different businesses.’ […] But the two programs Trump cited — ‘Trump Kids’ and ‘Trumpeteers’ — are programs catering to patrons of Trump’s hotels and golf club. They are not for Trump’s employees, according to staff at Trump’s hotels and clubs across the country.” [Associated Press, 8/11/16]

VOICEOVER: Business owners, your taxes get cut from 35% to 15% so you can expand and create more jobs. TRUMP PLEDGED TO LOWER THE CORPORATE TAX RATE TO 15%, AND MAKE PASS THROUGH INCOME SUBJECT TO THAT RATE, WHICH COULD SAVE HIM MILLIONS

HEADLINE: “Donald Trump’s New Tax Plan Could Have A Big Winner: Donald Trump’s Companies” [Washington Post, 8/10/16]

CBPP: “Mr. Trump’s Plan Would Set The Individual Tax Rate On Pass-Through Business Income At 15 Percent, Ten Percentage Points Below His Proposed 25 Percent Top Tax Rate On Ordinary Income.” “Mr. Trump’s plan would set the individual tax rate on pass-through business income at 15 percent, ten percentage points below his proposed 25 percent top tax rate on ordinary income.  If the ability to escape a 2.9 percent payroll tax (the payroll tax rate that would otherwise apply) encourages wealthy pass-through business owners to reclassify their labor earnings as ‘business’ income, a ten percentage-point tax-rate differential would provide a far greater incentive for such taxpayers to try to classify more of their ordinary earnings as pass-through business income.” [Center On Budget And Policy Priorities, 8/8/16]

Tax Policy Center Expert: Pass-Through Provision “Is A Really Nice Deal” For Trump. “’It’s a really nice deal’ for Trump and pass-through owners like him, said Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center.” [Washington Post, 8/10/16]

Trump Claimed His 2015 Income Was “In Excess” Of $557 Million Excluding Dividends, Interest, Capital Gains, Rents, And Royalties. “Mr. Trump’s income as reported in the PFD statement is in excess of $557 million (which does not include dividends, interest, capital gains, rents and royalties). Mr. Trump’s net worth has increased since the last statement was filed in July of 2015. As of this date, Mr. Trump’s net worth is in excess of $10 billion dollars.” [Donald Trump, Press Release, 5/17/16]

VOICEOVER: Donald Trump. Prosperity for you, America great again. TRUMP’S ECONOMIC POLICIES WOULD PUSH AMERICA TOWARDS A RECESSION AND LEAD TO 3.5 FEWER MILLION JOBS

A Moody’s Analytics Report On Trump’s Economic Proposals On Taxes, Trade, Immigration And Spending Found That Trump’s Policies Could Sharply Reduce Economic Output And Reduce Employment By 3.5 Million Jobs During His First Term. “A new analysis concludes Donald Trump’s economic proposals, taken at face value, could produce a prolonged recession and heavy job losses that would fall hardest on low- and middle-income workers. The Moody’s Analytics report, which a person close to the Trump campaign strongly disputed, is the first that attempts to quantify the cumulative economic benefits and costs of Mr. Trump’s proposals on taxes, trade, immigration and spending. It determines that full adoption of those policies would sharply reduce economic output during his first term and reduce employment by 3.5 million jobs.” [Wall Street Journal, 6/20/16]

Moody’s Concluded That Trump’s Trade And Immigration Policies Would Sharply Boost The Prices Of Labor And Goods And Contribute To A Recession In 2018. “The report singles out trade and immigration policies as the most detrimental to the economy in the short run because they could sharply boost labor and goods prices at a time when there’s less slack in the labor market. ‘It is a massive supply shock to the economy that’s very pernicious, and the Fed doesn’t know how to respond to that,’ said Mr. Zandi. Moody’s concludes that those price pressures would force the central bank to raise interest rates at a faster-than-desired pace, contributing to a recession in 2018 that could produce a 25% drop in the S&P 500.” [Wall Street Journal, 6/20/16]

TRUMP REPEATEDLY CLAIMED AMERICAN WAGES WERE ALREADY “TOO HIGH”

Trump Opposed Raising The Minimum Wage Because: “Wages Too High, We’re Not Going To Be Able To Compete Against The World.” Trump said he wouldn’t raise the minimum wage, and the reason is that America ‘is a country that is being beaten on every front.’ The problem, he said: ‘Taxes too high, wages too high, we’re not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard, and they have to get into that upper stratum.’” [The Week, 11/10/15; Republican Primary Debate, Milwaukee WI, 11/10/15]

Trump: “We Have To Become Competitive With The World.  Our Taxes Are Too High, Our Wages Are Too High.  Everything Is Too High.” TRUMP: “But you know what? We have to become competitive with the world.  Our taxes are too high, our wages are too high.  Everything is too high.” [Morning Joe, MSNBC, 11/11/15; The Hill, 11/11/15]

TRUMP PLANS TO ELIMINATE THE ESTATE TAX, WHICH COULD SAVE HIS FAMILY $4 BILLION

HEADLINE: “Trump Pledges To Repeal Estate Tax” [The Hill, 12/5/15]

CNN: Trump’s Family Could Owe $3.997 Billion In Estate Tax. “Donald Trump says that he is worth $10 billion. We’ll go with his numbers, though it is worth pointing out that other estimates put Trump’s net worth around $4.5 billion. Trump falls into the top tax bracket and would owe 40% on his assets above the $5.45 million lifetime exemption, which leaves his estate with a $3.997 billion tax liability. […] So it’s TRUE that 99.8% of Americans would not benefit from the elimination of the estate tax. It is also TRUE that Trump’s family could owe just less than $4 billion in estate taxes if the family does not use any loopholes or exemptions.” [CNN, 9/25/16]

TRUMP’S TAX PLAN WOULD CREATE A NEW LOOPHOLE FOR REAL ESTATE DEVELOPERS, COSTING MORE THAN A TRILLION DOLLARS

New York Times: “It’s Hard To Imagine A Tax Code More Favorable To Real Estate Developers Than The One We Already Have. Donald Trump Has Come Up With One.” [James Stewart, New York Times, 9/1/16]

New York Times: Trump’s Tax Plan “Piles On New [Tax Breaks] For Real Estate Developers Like Mr. Trump Himself — At An Estimated Cost Of More Than $1 Trillion In Tax Revenue Over A Decade.” “Thanks to some major loopholes in the existing tax code that treat real estate developers as a special privileged class, it’s entirely possible (even likely) that Mr. Trump pays little or no federal income tax. But Mr. Trump’s new tax proposal doesn’t just preserve those breaks, it piles on new ones for real estate developers like Mr. Trump himself — at an estimated cost of more than $1 trillion in tax revenue over a decade.” [James Stewart, New York Times, 9/1/16]

Republican Economist Douglas Holtz-Eakin: “If You Want To Create A Recipe For An Abusive Tax Shelter, Take Those Elements And Bake For 15 Minutes.” [James Stewart, New York Times, 9/1/16]

TRUMP (V/O): I’m Donald Trump and I approve this message.  

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Hillary Clinton’s Vision for An Economy Where Our Businesses, Our Workers, and Our Consumers Grow and Prosper Together

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On Monday, Hillary Clinton and Hillary for America announced a plan that will ensure that businesses, workers, and consumers can all grow and prosper together. This would be a stark contrast from today’s economy in which one typically suffers at the expense of the others. HFA released details of her plan which are outlined below. The full plan can be read on The Briefing.

Hillary Clinton believes we need to build an economy that works for everyone, not just those at the top. But today, there are still powerful interests fighting to protect their own profits and privileges at the expense of everyone else. Too many of the rules and incentives in our economy encourage those at the top to abuse their power and take advantage of consumers, workers, small businesses, and taxpayers. That makes it tougher for even well-meaning CEOs to take the high road.

In recent months, we’ve seen three egregious examples of these problems. We saw a drug company, Mylan, excessively raise the price of lifesaving EpiPens without justification. We saw one of our country’s biggest banks, Wells Fargo, bully thousands of employees into committing fraud on unsuspecting customers. And now we’ve learned the latest on Donald Trump: In one year, he lost nearly a billion dollars; he stiffed small businesses, laid off workers, and walked away from hardworking communities; and he apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs. That’s what he calls “smart” business.

Today, Clinton is offering her vision for an economy where our businesses, our workers, and our consumers grow and prosper together. She’s outlining a set of proposals to rewrite the rules so that more companies that do right by workers, small businesses, customers, and taxpayers.

Clinton will:

  1. Eliminate Tax Breaks that Allow Corporations and the Wealthy to Avoid Paying Their Fair Share
  1. Protect Consumers from Unfair and Deceptive Practices
  • Strengthen consumer financial protection, including by restricting practices that businesses like Wells Fargo have used to lock the consumers they’ve harmed out of court
  • Respond to unjustified price increases in long-standing, lifesaving drugs like EpiPens
  1. Promoting Free and Fair Competition and Stopping Big Businesses from Hurting Small Business
  • Crack down on big companies that repeatedly exploit their power to stiff small businesses – and give small businesses the power to respond
  • A new commitment to promote competition, address excessive concentration and the abuse of economic power, and strengthen antitrust laws and enforcement
  1. Rewrite the Rules So Workers Share in the Profits They Create

Full fact sheet available here.

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News Source: The Briefing

HFA Release on Trump’s Policies

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Leading up to tonight’s presidential debate between Republican Donald Trump and Democrat Hillary Clinton, Hillary for America released a series of responses to Trump’s proposals on the economy, taxes, child care, maternity leave, foreign policy, health care, immigration, trade, and the Veterans Administration. A copy of the release is below.

In a prebuttal to the first presidential debate, Hillary for America released a review of Donald Trump’s few policy proposals from experts and journalists, who have judged them variously as incoherent, unrealistic, excessively costly, and devastating for working families – where he has even bothered to address the issues at all. Whether it’s a dangerous immigration plan based on mass-deportation and a “great and beautiful wall,” a half-baked child care plan that would leave millions of middle-class families to fend for themselves, tax and economic proposals to benefit the rich and explode the national debt while leaving middle-class families holding the bag, or a broader economic agenda that would plunge our country into recession and cost us millions of jobs — Trump’s policy proposals have been panned by experts and critics across the political spectrum.

ECONOMIC PLAN

Donald Trump’s economic playbook has only one trick: to get ahead and stiff others. From a decades-long pattern of scamming small businesses and outsourcing jobs, to a proposal to cut taxes for billionaires like himself and his family at the expense of everyone else, Trump’s self-serving strategy is clear. According to a former economic advisor to John McCain, Trump’s policies would destroy nearly 3.5 million jobs. In fact, economists and business leaders across the political spectrum agree that his economic plan would plunge our country back into recession.

Mark Zandi of Moody’s Analytics: The economy will be significantly weaker if Mr. Trump’s economic proposals are adopted:

“Quantifying Mr. Trump’s economic policies is complicated by their lack of specificity…Mr. Trump’s economic proposals will also result in larger federal government deficits and a heavier debt load…. the economy will be significantly weaker if Mr. Trump’s economic proposals are adopted…four basic conclusions regarding the impact of Mr. Trump’s economic proposals can be reached: 1) they will result in a less global U.S. economy; 2) they will lead to larger government deficits and more debt; 3) they will largely benefit very high-income households; and 4) they will result in a weaker U.S. economy, with fewer jobs and higher unemployment.”

WSJ: Economists Who’ve Advised Presidents Are No Fans of Donald Trump:

“Republican presidential nominee Donald Trump…garners no support from any of the White House economists who have advised U.S. presidents for the past half-century. The Wall Street Journal this month reached out to all 45 surviving former members of the White House Council of Economic Advisers under the past eight presidents, going back to Richard Nixon, to get their views on this year’s presidential election. Among 17 Republican appointees who responded to Journal inquiries, none said they supported Mr. Trump.

National Association of Business Economics: Business Economists Say Hillary Clinton Is Best for the Economy . . . About 14% picked Mr. Trump:

“A majority of business economists in a new survey said Hillary Clinton is the best choice to oversee the U.S. economy as president. Her Republican rival, Donald Trump, didn’t even come in second.”

Politico: Economists savage Trump’s economic agenda:

“…if Trump’s policies were enacted it would be some form of disaster for the economy. If you force 11 million undocumented immigrants to leave in a year, you would be looking at a depression. It would not help the people he is talking to, they would be the first to go down.”

Washington Post Editorial: Trump’s economic plan goes from worse to bad:

“[Trump’s] prescriptions have progressed from preposterous to merely intellectually dishonest; their foreseeable impact on the U.S. economy, from destabilizing to merely dangerous.”

U.S. Chamber of Commerce: Does a recession sound ‘great’ to you?:

“For those keeping track, under Trump’s trade plans, we would see higher prices, reduced spending power, fewer jobs, and a weaker economy, both here at home and abroad, according to the analysis. Of course, that’s the last thing our country and the global economy need right now.”

TAXES

Donald Trump has put out so many different tax plans during this campaign that we’re losing count. But his latest effort is more of the same: doubling down on tax cuts that benefit billionaires like himself and his family, while maintaining his Trump Loophole — the massive backdoor tax cut that would let the wealthy pay less than half the current tax rate on a significant portion of their income. He has also proposed a tax cut that would save his own family $4 billion (that is, if Trump is worth as much as he says he is) – while doing nothing for 99.8% of Americans. And even as Trump is exploding the debt by more than $5 trillion with tax cuts weighted towards millionaires and billionaires, his plan includes a bait-and-switch that would result in millions of middle-class families, including half of all single parents, paying higher taxes.

Washington Post: A new study says Trump would raise taxes for millions:

“More than half of America’s single parents and one-fifth of its families with children could see their federal income taxes go up under Republican Donald Trump’s revamped tax plan…”

TPM: Trump’s Economic Plan Runs Afoul Of Deficit Hawks By Ballooning The Debt:

“The organization of deficit hawks projected that Trump’s plans would increase the deficit by $5.3 trillion over a decade.”

Vox: Donald Trump’s “new” tax plan: a giveaway to the rich that he pretends helps the middle class:

“ Long story short: This is big money, going from very successful businesses to their wealthy shareholders, that Trump is proposing to tax at a much lower rate.

Fundamentally, Trump is still offering voters the same approach to taxes he’s been offering all campaign: massive cuts for corporations of all kinds, big rate cuts for top earners, and benefits supposedly aimed at the middle class that offer less than they initially appear to.”

NPR: Analysis: Trump Tax Plan Would Cost Trillions, Boost Incomes For The Rich:

“The right-leaning Tax Foundation released an analysis Monday that said Trump’s campaign would shrink federal revenues by as much as $5.9 trillion over 10 years…In that top 1 percent, the income growth is particularly high — 10.2 to 16 percent.”

Trump claims his irresponsible tax cuts for the wealthy would be paid for by economic growth – but, as we just made clear, his agenda plunges the economy back into recession.

CHILD CARE

Under Donald Trump’s child care plan, close to 80% of families might, at most, get only four cents on the dollar for child care costs—and millions of these families could very well get nothing or even face a tax increase under Trump’s overall plan. This, while Trump’s plan would provide around 40 cents on the dollar or more to taxpayers in the top bracket. It’s no surprise this regressive policy came from the man living in the penthouse of Trump Tower, who has relied on government his entire life to help pad his own pockets.

The Guardian: Trump’s child care plan is good for the rich. But what about the rest of us?:

“Trump’s plan completely fails to address the day-to-day realities of America’s working families, because it fails to address the underlying problem: it does nothing to make child care affordable. In the United States, the average cost of center-based child care for the typical working family with an infant and preschooler is about $18,000, a steep price for families to cover. If a family cannot afford child care, a tax deduction is irrelevant – a family can’t deduct something that they can’t pay for to begin with.”

Esquire: Why Donald Trump’s New Child-Care Plan Is a Joke:

“However, as reporter Jeremy Diamond clarified, the plan does not entail six weeks of full paid maternity leave. Instead, it offers six weeks of full unemployment benefits. Trump also announced a plan for parents to deduct child-care expenses from their income taxes, capped at the ‘average cost of care’ per state, and deductibles for stay-at-home parents.

All said, Trump’s plan is a big government idea very obviously meant to cater to female voters—and very obviously Ivanka’s brainchild.”

Salon: Trump’s child-care policy: A combination of the useless and the inadequate:

“As Trump hinted last month, the centerpiece of his plan is a provision letting parents deduct the costs of child care from their taxes. The problem here is that people who need the most help affording child care — poor and low-income families — frequently don’t have any federal income tax burden. If they’re already paying zero dollars in federal income tax, an extra deduction won’t do them any good; they’ll still be paying zero dollars.”

MATERNITY LEAVE

Trump’s “maternity leave” plan is demeaning and damaging–casting women as the sole caretaker for a child and undercutting women in the workplace. By only providing leave to married mothers who give birth, the plan tells us which parents Trump doesn’t believe count: single moms, women who can’t physically have a child, same-sex couples that use a surrogate, parents who adopt, and all fathers. It’s not only demeaning, it’s also harmful. Studies have shown that providing paid leave to new mothers, but not to new fathers, negatively affects women’s return to the workplace, can discourage employers from hiring or promoting female employees, and can increase the gender pay-gap.

Huffington Post: Trump’s Maternity Leave Plan Is His Biggest Insult To Women Yet:

“Let’s repeat that: Trump’s solution for struggling American families leaves out men. More than any other problem with the plan ― and there are lots ― omitting half the population is its profoundest and most revelatory flaw, confirming once again Trump’s antiquated, sexist and harmful worldview: Men work. Women do the child-raising. The end.”

Vox: Donald Trump’s plan to fund a paid family leave program is totally absurd:

“Since everything we know so far about Trump’s plan fits into two tweets, it’s hard to say for sure what he’s envisioning. But 88 percent of workers right now aren’t covered by family leave, so requiring businesses to pay for it on their own would be a very big burden. And if leave is really “guaranteed,” it’s going to require something more than a tax credit to make that happen.”

VICE: Donald Trump’s Maternity Leave Plan Is a Big Deal, Too Bad It Sucks:

“Another way Trump’s plan falls short of Clinton’s in scope is that it doesn’t do much for the poor. Most of the childcare benefits would come in the form of income tax breaks, which won’t benefit the poorest Americans, who don’t pay income taxes and would have to pony up for childcare up front.”

Washington Post: Why Trump’s maternity leave plan is unconstitutional:

“In sum, if Trump’s maternity leave plan were ever enacted into law, it would likely be struck down by the courts as unconstitutional. Trump has demonstrated utter contempt for constitutional rights and limitations on government power on a shockingly wide range of issues. His discriminatory maternity leave plan is another addition to a troubling list.”

Washington Post: Donald Trump’s new paid maternity leave plan might exclude single mothers: “The plan is discriminating against fathers, fathers and mothers who adopt, LGBT parents and apparently some set of unmarried parents,” said Carmel Martin, executive vice president for policy at the Center for American Progress, a liberal think tank.”

FOREIGN POLICY

Donald Trump hasn’t said much in terms of real plans to keep our country safe. But foreign policy experts agree, the ideas Trump has mentioned are dangerous, reckless, and wrongheaded. Yet Trump continues to spew fact-free rhetoric about global issues that would make us less secure, including consistent claims that he has a “secret” plan to defeat ISIS, threats to break up NATO along with accusations that NATO countries are “ripping off the United States”, and reckless comments on nuclear weapon.

Washington Post: It’s almost like Donald Trump’s secret plan to defeat ISIS never actually existed: “But on the list of things on which Trump have over-promised and under-delivered, this surely ranks toward the top. He promised he had a “foolproof” way of ending a foreign policy challenge of massive consequence, and now he’s punting to the generals.”

Time: Why ISIS Supports Donald Trump:

“The bottom line is this: Trump’s erratic and belligerent slogans are no substitute for policies based on facts and sound judgment.”

PoliticsUSA: The Reviews Are In: Trump ISIS Speech Was Full Of Lies And Gibberish That Made No Sense:

“The consensus among non-partisan observers is that the speech that Donald Trump gave about ISIS was so full of lies, inconsistencies, and gibberish that it made no sense.”

New York Times: Donald Trump Says NATO is ‘Obsolete,’ UN is ‘Political Game’

“President Obama on Friday rebuked Mr. Trump for his comments, saying he worried the real estate billionaire “doesn’t know much about foreign policy or nuclear policy or the Korean Peninsula or the world generally.”

CNN: The danger of Trump’s NATO comments

“The bottom line is this: Trump’s erratic and belligerent slogans are no substitute for policies based on facts and sound judgment.”

CNN: Japan and South Korea hit back at Trump’s nuclear comments

“Howls of inaccuracy came from the South Korean Foreign Ministry, the U.S. ambassador to South Korea, and even the White House.  Ambassador Mark Lippert said Seoul pays for 55% of all non-personnel costs. And former U.S. Ambassador to South Korea Christopher Hill was more succinct. He told CNN, “I don’t know what he’s talking about but clearly neither does he.”

Business Insider: ‘Total catastrophe’: Experts say Donald Trump’s position on nuclear proliferation would be a disaster

“ But experts from two nonpartisan organizations opposed to the spread of nuclear weapons told Business Insider his position would be dangerous. Jeffrey Lewis, the director of the East Asia Nonproliferation Program at the Middlebury Institute of International Studies, said Japan building nuclear weapons would be a “total catastrophe for Japan and US nuclear power programs.”

The Atlantic: With His Finger on the Trigger: The insane risks of Donald Trump’s stance on nuclear weapons:

“Stephen Walt, a prominent realist scholar, has written, “realists prefer to ‘speak softly and carry a big stick;’ Trump’s modus operandi consists of waving the big stick while running a big mouth.” His loose talk during the campaign has already damaged America’s alliances. And on the central question of nuclear weapons, he has clearly exposed himself to be weak-kneed in his acceptance of international proliferation.”

HEALTHCARE

Donald Trump has promised that he would immediately work to repeal Obamacare, taking health insurance away from 20 million people – and letting the insurance companies write the rules all over again. Trump’s suggested healthcare plan would cost hundreds of billions more, would nearly double the uninsured rate and does not address people with pre-existing conditions. Americans cannot afford that.

Newsmax‎: Trump’s Healthcare Plan Could Cost 25 Million Americans Their Coverage:

“Commonwealth Fund, a nonpartisan foundation that studies healthcare, released a study on Friday analyzing the two candidate’s plans. If Trump becomes president, up to 25 million people could lose their coverage, most of them low-income and already in poor health. Under Clinton, 9.6 million more people could gain access to healthcare.”

Chicago TribuneStudy finds 20M would lose health coverage under Trump plan:

“A new study that examines some major health care proposals from the presidential candidates finds that Donald Trump would cause about 20 million to lose coverage while Hillary Clinton would provide coverage for an additional 9 million people.”

CNBCObamacare repeal would lead to 24 million more people without health insurance:

“If the next president and Congress repeal Obamacare — as many Republican elected officials want to do — there could end up being more people without health insurance than before the law went into effect, a new study says. A total of 24 million more people would lose health coverage by 2021 if the Affordable Care Act was repealed, according to the study issued Monday by the Robert Wood Johnson Foundation and the Urban Institute.”

IMMIGRATION

Donald Trump’s immigration plan remains the same as it’s always been: Send a deportation force into American communities to tear apart families and deport 16 million people from the United States—including every undocumented immigrant and American citizens born here to undocumented parents. Experts say Trump’s immigration policies would be detrimental to the economy. Oh, and he wants to ban all Muslims from entering the United States and falsely claims Mexico will pay for his giant concrete wall.

David LeopoldDeconstructing Donald Trump’s horrifying 10-step assault on immigration, due process and other cherished American values: “Rhetorical gymnastics aside, what’s crystal clear after Wednesday’s immigration speech is that Donald Trump’s ugly vision of America would rip American families apart, devastate communities, wreak havoc on our economy, and threaten our security at home and abroad.”

The Daily Pennsylvanian: Trump’s immigration plan would cost 4 million jobs, according to Wharton model:

“If Trump were to deport 10 percent of undocumented workers per year during two terms in office, based on the limitations of the model, the U.S. would have about 156 million jobs in 2030, compared to the 160 million jobs that the country would have with the its current immigration policies.”

Washington Post: Donald Trump’s “Humane” 1950s Model for Deportation, ‘Operation Wetback,’ Was Anything But:   “

Like usual, [Trump] doesn’t know what he’s talking about,” Rodolfo Acuña, professor emeritus of Chicano Studies at California State University, Northridge, told The Huffington Post … Brownell said, ‘Just give them some live ammo, let them shoot a few people. Then everyone will be scared and they won’t come across the border,” he said. “Really humane.”

CityLabThe Price of Mass Deportation; Trump wants to deport 11 million immigrants. Here are the likely economic consequences of that:

California could lose $100 billion of its GDP, annually. Texas could lose $60 billion. New Jersey, $25 billion. All but 5 U.S. states would see at least 1 percent of their GDP disappear each year. The resulting nationwide losses would build up to about $4.7 trillion in ten years.

TRADE

Donald Trump may talk tough on trade, but his own record of outsourcing contradicts his message: Trump clothing in Mexico, Trump ties in China, Trump shirts in Bangladesh, Trump furniture in Turkey and Germany, Trump mirrors in India, Trump barware in Slovenia. Trump even used to defend outsourcing, saying it created jobs in the long run. Meanwhile, Trump’s statements on trade have been either erratic and irresponsible, full of lies, or (occasionally) taken straight from Hillary’s fact sheets and onto his teleprompter.

Throughout this campaign, Trump’s statements on trade have been erratic and irresponsible — full of bluster, empty promises, and recklessness that would put American jobs at risk. Trump repeatedly rejects the idea that Americans can compete and win in the global economy and does not offer a concrete plan to actually create good-paying jobs here in America.

New York TimesWhy a President Trump Could Start a Trade War With Surprising Ease :

“Mr. Trump is proposing a reordering of the global economic system that would fundamentally reshape the structure of American industry. He could start a trade war that would threaten not only American exporters who need access to foreign markets, but also any business that relies on commodities or products made overseas.”

VoxStudy: Donald Trump’s trade policies could cost 4 million jobs:

“The study, from the Peterson Institute for International Economics, attempted to quantify the impact of Trump’s proposed trade policies. Its conclusion: If a President Trump did what Candidate Trump promised, the US economy would lose more than 4 million jobs and fall into a recession.”

The Daily BeastDonald Trump’s Trade Talk Is Garbage—Literally:

“Two powerful groups, the National Association of Manufacturers and the Chamber of Commerce, moved swiftly to condemn Trump’s [trade policy] speech. Both groups often align themselves with pro-business GOP policy makers, and it is especially unusual for them to take on the Republican presidential nominee so directly.”

CNBC: Trump’s trade policies would send US into recession, study says:

“The study released on Monday by researchers at the non-partisan Peterson Institute for International Economics illustrates how, even as the New York businessman pledges to boost growth and create millions of jobs, most mainstream economists view his economic policies as dangerous quackery.”

VETERANS ADMINISTRATION

The policy reforms Donald Trump has proposed would put us on a path toward the wholesale privatization of the Department of Veterans Affairs (VA). Moving towards privatization as Trump’s plan does would gut the VA of the resources needed to provide high-quality, coordinated care. Fully privatizing the VA – the likely result of Trump’s proposals – is not a fix at all; it’s an ideological crusade that will only compound the problem. It would deprive our veterans of access to the specialized care they require and deserve and leave them at the mercy of a private healthcare market that’s ill-suited to handle their needs. And on top of it, Trump has proposed slashing funding for veterans’ health care by 29% within 10 years.

CBPPTrump’s plans would cut veterans medical care by 29%:

“To help pay for his tax cut plan, Republican presidential nominee Donald Trump is proposing to cut total funding for non-defense programs funded through the annual appropriations process by 1 percent below the previous year’s total each year. While this may sound modest, the cumulative cut would be very substantial.  By the tenth year (2026), non-defense appropriations would be about 29 percent below current levels, after accounting for inflation.”

MSNBCDonald Trump Is Serious About Privatizing Veterans’ Care:

“And what about the rest of Trump’s “10-point plan”? The entire list is online, but it’s woefully thin. It’s really just a series of shallow slogans that mean very little, including the first point: Trump intends to appoint a VA Secretary “whose sole purpose will be to serve veterans.”

NPRIs Donald Trump Proposing Privatizing The VA?:

“The other issue with Trump’s broad proposal is the price tag. According to the nonpartisan Committee for a Responsible Federal Budget, Trump’s plan to reimburse vets for visits to any doctor they like would cost half a trillion dollars over 10 years.”

POLL64% of veterans oppose privatization — with 54% of them strongly opposing it — while only 29% support it.

NO POLICY

Donald Trump has run a campaign devoid of detailed plans – instead it’s been full of bluster, empty words, demagogic rhetoric. He has no real plans to improve the lives of the American people or make this country any better or safer.

National Journal: Trump Policy Shop Still Filling in Blanks:

“As debate looms, GOP nominee’s campaign can’t give clear answers to many basic policy questions.”

AP FACT CHECKTrump says Clinton lacks policies. Seriously?

“THE FACTS: By any measure, Clinton has released far more specific plans on far more topics than her GOP rival. Trump’s website currently lays out eight policy positions, including spelling out his “economic vision,” his plans for child care and immigration reform and his plan to “pay for the wall.” Clinton’s offers position on 38 issues for potential voters to read.”

LA TimesClinton has enough policy to fill a book, while Trump has said little about how he’d govern

“To only has Trump offered no plan to tackle mental healthcare, he’s presented the barest of outlines for most of his governing agenda, even as he now accuses Clinton of “running a policy-free campaign,” as he claimed at recent rally in Iowa. Trump’s vague tax, healthcare and national security proposals have baffled experts on both sides of the political aisle who have struggled to make sense of what Trump is offering. Even Trump’s immigration policy, perhaps the signature issue of his campaign, has proved difficult to decipher.”

PoliticoTrump’s One Unbreakable Policy: Skip The Details

“He has boasted that his main policy adviser is himself and the advisers he does have say he doesn’t read briefing papers. He has mocked Hillary Clinton for surrounding herself with “eggheads” and churning out reams of wonky government reform proposals. Senate Majority Leader Mitch McConnell, who will be speaking on Trump’s behalf at this week’s Republican convention in Cleveland, recently said “it’s pretty obvious he doesn’t know a lot about the issues.”

TIMEIn an interview Trump admits he isn’t worried about creating policy as they are “a waste of paper”

“He [Trump] even mocks her focus on putting out so many policy proposals, a longtime tradition for major party nominees. “She’s got people that sit in cubicles writing policy all day. Nothing’s ever going to happen. It’s just a waste of paper.” (The Clinton campaign counts that paper as a point of pride: 73,645 words of policy and counting.)”

NPRDonald Trump’s Policy Positions Lack Specifics … So Far

“Asked Tuesday morning by Savannah Guthrie on NBC’s Today show about his lack of specific proposals, Trump didn’t answer the question and simply pointed to the record ratings he drew for Fox News.”

For all the latest, follow our Scheduled Events page and follow Clinton on Twitter, Facebook, YouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

Clinton, Kaine Release New Book, “Stronger Together”

stronger-together-9781501161735.in17

On Tuesday, Hillary Clinton and Tim Kaine released a new book titled Stronger Together. Hillary for America released the following description of the book. Buy the book from Amazon, Barnes & Noble, Books-a-Million, Walmart, or your favorite book retailer.

Hillary Clinton and Tim Kaine today released their official campaign book, “Stronger Together” today, a 256-page blueprint for America’s future. The book synthesizes more than fifty detailed policy ideas that Clinton and Kaine have advanced throughout the campaign, including specific and practical solutions to address some of the biggest challenges facing American families and our country.

“We have an old-fashioned idea about politics: People who are running to lead the United States of America should tell you what they’re going to do, why they’re going to do it, and how they’re going to get it done,” Clinton and Kaine write in the book’s preface. “That’s what this book is all about. Over the course of this campaign, we have laid out a comprehensive vision for our country: building an economy that works for everyone, not just those that the top; working with our allies and each other to keep our people safe and our country strong; and forging a strong sense of American unity to tackle the problems and seize the opportunities before us. To that end, we have released more than fifty detailed policy ideas, on everything from apprenticeships to the Zika virus.”

The detailed, specific policy solutions covered in the book stand in stark contrast to the Trump campaign’s soundbites and slogans. According to a recent Associated Press story, “Trump’s campaign has posted just seven policy proposals on his website, totaling just over 9,000 words. There are 38 on Clinton’s ‘issues’ page, ranging from efforts to cure Alzheimer’s disease to Wall Street and criminal justice reform, and her campaign boasts that it has now released 65 policy fact sheets, totaling 112,735 words.”

The book, which includes new introductions from each candidate, is broken into four sections focused on:

  • The economy: How we can build an economy that works for everyone, not just those at the top, by: making the boldest investment in good-paying jobs since World War II; making college debt-free for all Americans; rewriting the rules so companies share profits with employees instead of shipping jobs and profits overseas; ensuring that Wall Street, corporations and the super-wealthy pay their fair share; and putting families first with policies that match how people work and live.
  • Foreign policy: How we can secure American leadership and keep America safe by: defeating ISIS and global terrorism; continuing to strengthen our alliances and partnerships — and stick with them; being firm but wise with our rivals; keeping our military strong and supporting our veterans and military families; shaping the global rules that will keep us safe and make us more prosperous; and staying true to the values that have always made America great.
  • Domestic policy: How we can stand together and build bridges, not walls by providing every child the opportunity to live up to his or her potential; fixing our broken immigration system and keeping families together; reforming our criminal justice system; ending the epidemic of gun violence; breaking down the barriers that stand in the way of equal rights; and protecting our environment and natural resources.
  • Getting results: How we can break through the gridlock to get results by reforming our campaign finance system, protecting voter rights and expanding access to the ballot box.

In her introduction, titled Love and Kindness—And Action, Clinton tells the story of her upbringing, the lessons she learned from her mother’s difficult childhood, and her work as an advocate for children. She writes, “To drive real progress, you have to change both hearts and laws. You need both understanding and action. It’s unusual to hear a candidate for President say we need more love and kindness in our country — but that’s exactly what we need. Each of us stumbles at one time or another. I know I’ve made my share of mistakes and missteps. But life is about how we stand back up — and how we lift each other up, too.”

In his introduction, titled Fighting for Right, Kaine describes his service in Honduras and the inspiration he drew from his father-in law, former Virginia Governor Linwood Holton, who integrated the state’s public schools. He writes, “Lin’s example helped inspire me to work as a civil rights lawyer representing people who had been turned away from housing either because of the color of their skin or because they were an American with a disability … All these years later, I am still striving to do what I did then — to fight for right.”

The book was published by Simon & Schuster and is available in paperback, digital and audio formats.

For all the latest, follow our Scheduled Events page and follow Clinton on Twitter, Facebook, YouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

HFA’s Response to Trump’s Latest Misleading Ad

Hillary_for_America_2016_logo.svg

On Monday, Hillary for America Deputy Communications Director Christina Reynolds released the following in response to Donald Trump’s latest campaign ad.

“Donald Trump’s reckless approach to business has devastated working families and communities. He will do and say whatever is in his interest, even if it means swindling working families to make millions for himself. Now Trump is promising the same reckless, self-centered approach to running the country’s economy – with large tax breaks for the wealthy, and a plan that independent experts say would cost millions of jobs. Hillary Clinton is the only candidate who will work to build an economy that works for everyone, not just those at the top, and has a plan that would create jobs, grow incomes and help small business and the middle class. No misleading ad can change that fact.”

V/O: In Hillary Clinton’s America, the middle class gets crushed

SUPER: middle class CRUSHED

“America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas,” Pew Research Center, 5/11/16

 

 

CLINTON’S PLAN WOULD MAKE THE ECONOMY WORK FOR EVERYONE, NOT JUST THOSE AT THE TOP

Hillary for America Fact Sheet: Stronger Together: Hillary Clinton’s Plan for An Economy That Works for Everyone, Not Just Those at the Top [Hillary for America Fact Sheet, 6/22/16]

Hillary Clinton is running for President to build an economy that works for everyone, not just those at the top. And she is setting five big goals to get there:

1  Break Through Washington Gridlock to Make the Boldest Investment in Good-Paying Jobs Since World War II

2  Make Debt Free College Available to All Americans

3  Rewrite the Rules to Ensure That Workers Share in the Profits They Help Create

4  Ensure That Those at the Top Pay Their Fair Share

5  Put Families First by Matching Our Policies to How Families Live, Learn, and Work in the 21st Century Economy

INDEPENDENT ANALYSIS FOUND LOW- AND MIDDLE- INCOME HOUSEHOLDS WOULD BENEFIT MOST FROM CLINTON’S PROPOSALS

Moody’s: “Those Who Would Benefit Most From Secretary Clinton’s Economic Proposals Would Be Low- And Middle-Income Households.” “Those who would benefit most from Secretary Clinton’s economic proposals would be low- and middle-income households.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016]

RESEARCH CITED BY TRUMP CAMPAIGN DOES NOT MENTION CLINTON

“America’s Shrinking Middle Class: A Close Look at Changes Within Metropolitan Areas,” Pew Research Center, 5/11/16

V/O Spending goes up

SUPER: spending goes UP

“Analyzing Clinton’s Health and Education Expenses,” CRFB, 7/27/16

“Estimating the Costs of Candidate Clinton’s Proposals,” American Action Forum, 6/4/16

CLINTON’S PLANS WOULD NOT ADD TO THE NATIONAL DEBT

Wall Street Journal: Study Sees Debt Jumping Under Trump, Staying Steady Under Clinton [Wall Street, Journal, 6/26/16]

Study: Clinton’s proposals would not significantly increase national debt [The Hill, 5/2/16]

Budget group: Debt jumps under Donald Trump, remains steady under Hillary Clinton [CBS News, 6/27/16]

 

 

V/O: Taxes go up

SUPER: Taxes go UP

“Estimating the Costs of Candidate Clinton’s Proposals,” American Action Forum, 6/4/16

 

CLINTON WOULD NOT INCREASE TAXES ON FAMILIES WITH INCOMES LESS THAN $250,000

Politifact Gave A “Pants On Fire” To Donald Trump’s Claim That “Hillary Clinton Wants To Raise Taxes On The Middle Class.” [Politifact, 8/5/16]

Research Cited By Trump Campaign Notes That Clinton Would Not Raise Taxes On Incomes Less Than $250,000

Tax Foundation: “Consistent With The Clinton Campaign’s Pledge Not To Raise Taxes On Households Earning Less Than $250,000, We Assumed That The New Schedule For Long-Term Gains…” “Consistent with the Clinton campaign’s pledge not to raise taxes on households earning less than $250,000, we assumed that the new schedule for long-term gains only would apply to the top marginal tax rate of 20 percent.” [“Details and Analysis of Hillary Clinton’s Tax Proposals,” Tax Foundation, 1/26/16]

V/O: Hundreds of thousands of jobs disappear. It’s more of the same but worse.

SUPER: Clinton’s Tax Plan: hundreds of thousands of jobs disappear

“Details and Analysis of Hillary Clinton’s Tax Proposals,” Tax Foundation, 1/26/16

 

MOODY’S FOUND THAT UNDER CLINTON’S PROPOSALS, THE ECONOMY WOULD CREATE 10 MILLION JOBS

Moody’s: “During Her Presidency, The Economy Would Create 10.4 Million Jobs, 3.2 Million More Than Under Current Law.” “Employment also receives a lift under the secretary’s plan. During her presidency, the economy would create 10.4 million jobs, 3.2 million more than under current law. Unemployment is also lower, with the unemployment rate falling as low as 3.7% in the middle of her term, and ending her presidency in 2020 at 4.4%. Under current law, the unemployment rate hovers just below 5% between now and the end of the decade.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016]

Moody’s: Clinton’s Economic Proposals Will Results In A “Stronger U.S. Economy With Increased GDP And More Jobs” That “Will Mostly Benefit Middle- And Lower-Income Households.” “Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive our analysis, four basic conclusions regarding the impact of Secretary Clinton’s economic proposals can be reached: 1) They will result in a somewhat stronger U.S. economy with increased GDP and more jobs; 2) they will mostly benefit middle- and lower-income households; 3) they have little impact on the nation’s fiscal situation, as they result in somewhat larger deficits but a mostly unchanged debt-to-GDP ratio; and 4) they exhibit faith in the ability of government policy to positively influence economic behavior.” [The Macroeconomic Consequences of Secretary Clinton’s Economic Policies, Moody’s Analytics, July 2016]

V/O: In Donald Trump’s America, working families get tax relief

SUPER: Families Get Tax Relief

“A Pro-Growth Tax Code for All Americans,” GOP: A Better Way, 6/24/16

 

TRUMP’S TAX PLAN WOULD DO LITTLE TO NOTHING FOR THE MIDDLE CLASS, WHILE GIVING PEOPLE LIKE HIM A HUGE TAX BREAK

HEADLINE: “Economists: Trump Tax Plan Offers Almost Nothing For The Middle Class.” [Washington Post, 8/8/16]

Center On Budget And Policy Priorities: Trump’s Proposed 15% Tax Rate On Pass-Through Income “Would Be An Expensive Tax Cut That Would Flow Primarily To The Wealthiest Americans.” “A central element of Donald Trump’s tax plan, which he’s expected to discuss in a high-profile speech in Detroit today, is a special 15 percent tax rate on business income claimed on individual tax returns, known as ‘pass-through’ income.  Mr. Trump says it’s designed to help small businesses, which he contends shouldn’t pay a higher tax rate than large corporations.  Mr. Trump, who has proposed a 15 percent corporate tax rate, proposes a pass-through rate of 15 percent as well. The Trump pass-through proposal would be an expensive tax cut that would flow primarily to the wealthiest Americans.  That’s because more than two-thirds of pass-through business income flows to the highest-income 1 percent of tax filers.” [Center On Budget And Policy Priorities, 8/8/16]

Trump’s Financial Disclosure Revealed He Had Holdings In More Than 200 Pass-Through Entities, Which Would See Their Tax Rate Dramatically Reduced Under His Plan. “A little-noticed provision in Donald Trump’s tax reform plan has the potential to deliver a large tax cut to companies in the Republican presidential nominee’s vast business empire, experts say. Trump’s plan would dramatically reduce taxes on what is known in tax circles as ‘pass-through’ entities, which do not pay corporate income taxes, but whose owners are taxed at individual rates on their share of profits. Those entities are the most common structure for small businesses and increasingly popular for larger ones as well. They are also a cornerstone of the Trump Organization. On his 2015 presidential financial disclosure report, Trump listed holdings of more than 200 limited liability corporations, which is a form of pass-through.” [Washington Post, 8/10/16]

TRUMP DIDN’T EVEN CITE HIS OWN TAX PLAN IN HIS AD

HEADLINE: “Trump Ad Credits Tax Plan He Doesn’t Support” [NBC News, 8/29/16]

Donald Trump’s New Ad Cites Two Contradictory Tax Plans — One That Trump Has Explicitly Ruled Out and Another That He Has Yet To Endorse. “Donald Trump’s new $10 million TV ad cites two contradictory tax plans — one that Trump has explicitly ruled out and another that he has yet to endorse — raising more questions about what policies the GOP presidential nominee supports. […] For the ad’s claim that ‘working families get tax relief,’ it refers viewers not to an analysis of Trump’s own tax proposals, but to a white paper by House GOP leaders about their own tax reform plan. […] Trump has not endorsed the House GOP plan outright, but his new proposal, announced earlier this month, has some similarities. […] Things get even more confusing as the commercial continues. The ad’s next two claims that Trump would make ‘wages go up’ and ‘small businesses thrive’ refer to his old tax plan from last year, which had drastically different rates, including a 0% bracket at the bottom and a top rate of 25%. The on-screen citation directs viewers to a Tax Foundation analysis of that now-defunct proposal from September 2015. Trump erased his old plan from his website shortly before he announced his new one in a speech to the Detroit Economic Club earlier this month.” [NBC News, 8/29/16]

V/O: Millions of New Jobs Created

Millions of new jobs

Details and Analysis of the 2016 House Republican Tax Reform Plan,” Tax Foundation, 7/5/16

 

TRUMP’S ECONOMIC POLICIES WOULD REDUCE EMPLOYMENT BY NEARLY 3.5 MILLION JOBS

A Moody’s Analytics Report On Trump’s Economic Proposals On Taxes, Trade, Immigration And Spending Found That Trump’s Policies Could Sharply Reduce Economic Output And Reduce Employment By Nearly 3.5 Million Jobs During His First Term. “A new analysis concludes Donald Trump’s economic proposals, taken at face value, could produce a prolonged recession and heavy job losses that would fall hardest on low- and middle-income workers. The Moody’s Analytics report, which a person close to the Trump campaign strongly disputed, is the first that attempts to quantify the cumulative economic benefits and costs of Mr. Trump’s proposals on taxes, trade, immigration and spending. It determines that full adoption of those policies would sharply reduce economic output during his first term and reduce employment by 3.5 million jobs.” [Wall Street Journal, 6/20/15]

V/O: Wages go up

SUPER: Wages go up

“Details and Analysis of Donald Trump’s Tax Plan,” Tax Foundation, 9/29/15

 

TRUMP THINKS AMERICAN WAGES ARE ALREADY “TOO HIGH”

Trump Opposed Raising The Minimum Wage Because: “Wages Too High, We’re Not Going To Be Able To Compete Against The World.” Trump said he wouldn’t raise the minimum wage, and the reason is that America ‘is a country that is being beaten on every front.’ The problem, he said: ‘Taxes too high, wages too high, we’re not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard, and they have to get into that upper stratum.’” [The Week, 11/10/15; Republican Primary Debate, Milwaukee WI, 11/10/15]

Trump: “We Have To Become Competitive With The World.  Our Taxes Are Too High, Our Wages Are Too High.  Everything Is Too High.” TRUMP: “But you know what? We have to become competitive with the world.  Our taxes are too high, our wages are too high.  Everything is too high.” [Morning Joe, MSNBC, 11/11/15; The Hill, 11/11/15]

TRUMP: “HAVING A LOW MINIMUM WAGE IS NOT A BAD THING FOR THIS COUNTRY”

Trump: “But I Think Having A Low Minimum Wage Is Not A Bad Thing For This Country.” TRUMP: “Now — I want to create jobs so that you don’t have to worry about the minimum wage.  They’re do a great job that they’re making much more than the minimum wage.  But I think having a low minimum wage is not a bad thing for this country, Mika.” [Morning Joe, MSNBC, 8/20/15; Washington Times; 8/20/15]

V/O: Small businesses thrive

SUPER: Small businesses thrive

“Details and Analysis of Donald Trump’s Tax Plan,” Tax Foundation, 9/29/15

V/O: The American dream achievable. Change that makes America great again. Donald Trump for President.

SUPER: MAKE AMERICA GREAT AGAIN!

 

 TRUMP’S POLICIES WOULD DRIVE AMERICA INTO A RECESSION

Moody’s Concluded That Trump’s Trade And Immigration Policies Would Sharply Boost The Prices Of Labor And Goods And Could Contribute To A Recession In 2018. “The report singles out trade and immigration policies as the most detrimental to the economy in the short run because they could sharply boost labor and goods prices at a time when there’s less slack in the labor market. ‘It is a massive supply shock to the economy that’s very pernicious, and the Fed doesn’t know how to respond to that,’ said Mr. Zandi. Moody’s concludes that those price pressures would force the central bank to raise interest rates at a faster-than-desired pace, contributing to a recession in 2018 that could produce a 25% drop in the S&P 500.” [Wall Street Journal, 6/20/15]

HEADLINE: “Donald Trump’s Trade War Could Kill Millions Of U.S. Jobs” [Wonkblog, Washington Post, 3/25/16]

HEADLINE: “How Donald Trump Could Cause A Recession” [CNN Money, 3/3/16]

The Republican-Leaning U.S. Chamber Of Commerce Argued That Trump’s Proposed Tariffs Would Likely Cause A Recession. “The U.S. Chamber of Commerce is using a recent analysis commissioned by The Washington Post to argue that Donald Trump’s trade policy platform could cause a recession. The business group, which is a consistent backer of Republican politicians, said in a blog post Friday that a recession would set in during the first year under the Republican front-runner’s proposed tariffs because China and Mexico would likely impose retaliatory tariffs.” [Politico, 4/1/16]

For all the latest, follow our Scheduled Events page and follow Clinton on Twitter, Facebook, YouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

Clinton Touts Jobs Plan in Cleveland

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At a rally in Cleveland, Ohio today, Hillary Clinton spoke to a crowd of supporters at John Marshall High School. Clinton spoke about her economic plan, and more specifically, her plan to invest in manufacturing, clean energy, and infrastructure creating millions of jobs across the country. Clinton said that independent analysts have predicted that her plan would create 376,000 job in Ohio alone. She said that one of her primary objectives would be building upon the economy saying, “We’ve got to get the economy working for everyone. Not just those at the top.”

Clinton then went after Donald Trump saying that his economic plan would benefit him and others in the top income brackets. She said that if Trump is worth $10 billion, as he claims, his family’s tax break would net $4 billion. She then outlined how she could better spend that $4 billion on other projects including increasing funding for early childhood programs, provide additional heath care to veterans, provide free community college, expand broadband internet across the country, or fund state and local law enforcement. The Clinton campaign released the full details of how Trump’s tax plans benefit himself and how a Clinton administration could better invest the money. A video from her Cleveland speech below.

For all the latest, follow our Scheduled Events page and follow Clinton on Twitter, Facebook, YouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

News Source: Cleveland Patch

Tim Kaine Campaigns in Cedar Rapids

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Tim Kaine campaigned in Iowa today speaking at a rally in Cedar Rapids. During his first speech in the state since being announced as Clinton’s running mate, Kaine referenced his ties to the mid-west. He said, “I grew up in Kansas City and part of my family on my mom’s side is from Fort Madison, so as a kid, I used to come to Iowa for family. And I have dear friends in Maquoketa and Charles City and Des Moines.” He spoke about Hillary Clinton’s economic plan and how the new jobs created would benefit Iowans. Kaine attacked Donald Trump for not releasing his tax returns calling him a tax dodger. He said that Clinton’s plans would ensure the wealthy pay their fair share and that everyone will have an equal opportunity to prosper in America. A video from the event is below.

For all the latest, follow our Scheduled Events page and follow Clinton on Twitter, Facebook, YouTube, and Instagram. Also, be sure to subscribe to the campaign’s official Podcast, With Her.

News Source: The Des Moines Register