• Trump unveils economic plan to ‘jump-start’ United States

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    WASHINGTON D.C.: Republican Donald Trump said on Monday (Tuesday in Manila) he would slash taxes, block onerous financial regulations and unleash the energy sector as he pledged to “jump-start America” with a new economic plan if he is elected president. The brash billionaire unveiled his proposals in a speech in economically depressed Detroit as he resets his campaign and focuses on policies that draw a sharp contrast with Hillary Clinton. “We are in a competition with the world, and I want America to win,” Trump told the Detroit Economic Club, as he highlighted “disastrous” policies that he said have snuffed out US jobs in the nearly eight years of Barack Obama’s presidency. “I want to jump-start America. It can be done, and it won’t even be that hard,” he said. Trump laid out a series of policies to revitalize a limping economic engine, including a sharp reduction of corporate tax from 35 percent to 15 percent, something he floated back in September as a way to lure back US corporations that relocated abroad. He would also set a 10 percent tax on the “trillions of dollars from American businesses that is now parked overseas” and gets repatriated into the United States. Personal taxes would drop too, with the top rate at 33 percent, compared with 39.6 percent today. Trump said he wants to “cut regulations massively,” a move he said would lift the “anchor” weighing down small businesses, something Republicans have sought for years during Obama’s tenure.

    AFP

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