8 Ways Trump and Clinton Differ on the Economy

Monday, Republican presidential nominee Donald Trump’s campaign released a new 30-second ad titled “Two Americas: Economy” that contrasts his economic policies with those of his Democratic opponent, Hillary Clinton.

First the ad details the shortcomings of Clinton’s plan. They include:

Middle Class Crushed

Additionally, the liberal New York Times found that under the current Obama economy, an average middle-income family “makes substantially less money in inflation-adjusted terms than it did 15 years ago. And there is no evidence that is reversing.”

Spending Goes Up

Numerous media outlets, lobbyist groups and governmental agencies have all reported that Clinton is proposing a total of $1.98 trillion in new and expanded spending over the next 10 years, if she is elected.

Taxes Go Up

According to a March report by the Wall Street Journal, Clinton’s tax proposals would “raise $1.1 trillion over the next decade, and the highest-earning 1 percent of households would pay more than 77 percent of the tab.”

Hundreds of Thousands of Jobs Disappear

A January analysis of Clinton’s tax proposals would “lead to 0.8 percent lower wages, a 2.8 percent smaller capital stock, and 311,000 fewer full-time equivalent jobs. The smaller economy results from somewhat higher marginal tax rates on capital and labor income.”

As the Wall Street Journal‘s James Freeman put it in January, “Although the Clinton tax hikes are ostensibly targeting the rich, with proposed changes such as a new surtax on high incomes and a Buffett Rule that sets a minimum tax rate on high earners, the Tax Foundation projects a decline of at least 0.9 percent in after-tax incomes for all taxpayers due to slower growth. So for everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it just a bit worse.”

The ad then addresses Trump’s economic plan, which includes:

Families Get Tax Relief

As the New York Times had to admit earlier this month, Trump “intends to lower taxes across the board in line with a proposal earlier in the year by House Republicans, which reduced the 15 percent income tax bracket to 12 percent. The Tax Foundation estimated that plan would raise after-tax income for families in the 20th-to-40th percentiles by 0.5 percent, and for middle-income taxpayers by 0.2 percent.”

Millions of New Jobs

Last fall, the Tax Foundation’s analysis of Trump’s economic plan stated it would lead to 5.3 million more full-time equivalent jobs.

Wages Go Up

The Tax Foundation also said the Trump plan would lead to 6.5 percent higher wages.

Small Businesses Thrive

Earlier this month, CBS Marketwatch reported that Trump’s plan “promises relief to freelancers and unincorporated small businesses who are taxed at the higher personal income tax rates.”

The ad is now running on broadcast and cable television in the key battleground states of Ohio, Pennsylvania, North Carolina, Florida, New Hampshire, Iowa, Nevada, Virginia and Colorado. In several of those states, Trump’s ad spending is far surpassing that of Hillary Clinton.

“Mr. Trump’s positive message of economic opportunity is working and we see the national and battleground state polls all moving in the right direction,” campaign spokesman Jason Miller said. “With Hillary Clinton dodging the media and off the campaign trail almost entirely this week, continuing to take many communities’ votes for granted, we see this as the right time to show voters the benefits of an American economy under the leadership of Mr. Trump.“