News » Politics » Donald Trump “stiffed” small businesses, alleges Clinton

Donald Trump “stiffed” small businesses, alleges Clinton

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Said Trump’s plan would drain American jobs and small businesses.Clinton Vs Trump

Democratic Party presidential nominee Hillary Clinton described the Republican presidential candidate as a business bully, during a tele-town hall conference with small business owners on Tuesday.

“Donald Trump has made a career of stiffing small businesses, driving some of them actually out of business,” Clinton said. “He refused to pay them for the work they’d already done – not because he couldn’t pay them, but because he chose not to pay them.”

The former secretary of state compared her economic plan with that of Donald Trump’s.

“In fact, according to an independent analysis, Trump’s ideas would result in a prolonged recession that would cost 3.4 million jobs. That same analyst analyzed my plan and found that the economy would create more than 10 million new jobs,” Clinton reiterated.

Delineating her plans to boost small businesses Clinton said, “I believe when you succeed, families thrive and our nation prospers. But I also know that in lots of ways, the odds are stacked against too many of you too many times. It’s clear that big corporations get a lot of the breaks.”

The presidential nominee (D) continued: “It’s much harder for you to get a loan, to file taxes, to offer health care to your workers. And from everything I’ve heard and know, you aren’t looking for special breaks. You want commonsense policies that will make life a little bit easier, and that’s why I am releasing our plan today.”

Clinton said that Trump’s new campaign manager Kellyanne Conway, too, stated this in a CNN interview.

“Even his new campaign manager said that Trump, and I quote, “built a lot of his businesses on the backs of the little guy.”

In Colorado, Clinton’s vice presidential running mate reverberated her views in a roundtable with small business owners.

Senator Tim Kaine said that both he and Clinton come from families that started as small business owners. “That has given the Hillary and me a profound understanding for the fact that the American economy really isn’t best measured by, like, what’s going on on Wall Street. It’s best measured by what’s happening with the small businesses.”

Elaborating on Clinton’s plan, Kaine said: “The plan that Hillary has with respect to small businesses that we’re rolling out today is basically a five-parter. First, we just want to make it easier to start a business. Being able to start and having a culture where startups are not complicated but easier is really important. So that involves a lot of about the regulatory and permitting processes at the federal level, but also at the state and local level.”

The Virginia senator said that Clinton’s plan would make it easier for community banks and credit unions to provide finance to budding entrepreneurs and startups. On the tax-filing front, Kaine said that they would simplify tax filing. “And so what Hillary has put on the table is something like – I wish I thought of that – and that is in the corporate income tax world to have, like we do in the individual income tax world, you can itemize, but you also just do a standard tax filing, a very simplified tax filing,” said Kaine.

In comparison to Donald Trump’s economic plans, Kaine said, “Donald Trump has rolled out a tax shelter that is highly unusual, that combines immediate expensing of investments, which is actually, for small businesses, part of the Hillary Clinton plan, but it combines it with the immediate deductibility of all interest, if you debt-fuel your investments. Economists say don’t mix those two things.”

Kaine continued: “That would be a massive mistake, to provide a negative tax rate for the biggest companies in the country if they’re debt-fueling real estate or other investments. We call this the King of Debt loophole, since Donald Trump likes to brag that he’s the kind of debt.”

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