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Debate Round III: Where the candidates stand on the economy

This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. (Mark Lennihan / AP)
This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. (Mark Lennihan / AP)

Six topics were chosen by moderator Chris Wallace for the third and final presidential debate. The 90-minute event will be divided into six 15-minute segments, with both Hillary Clinton and Donald Trump speaking on the topics. Here’s where the two candidates stand on the economy, based on their previous statements.

Economy

Clinton: Clinton proposes tax increases on the highest earners. That plan could send job creation and gross domestic product lower in the short-run, then by 2027, both would be higher than the expected growth without the effects of her plan, according to an analysis by the Wharton School of Business and the Washington-based Urban-Brookings Tax Policy Center. The tax policy center also found, in a companion report, that under Clinton’s plan, federal revenue would increase by $1.4 trillion over a decade, with the top 1 percent of earners paying for about 90 percent of her proposed tax hikes.

Trump: Trump proposes tax cuts for businesses and individuals. The Wharton/Urban-Brookings analysis said that plan could provide a short-term boost to the economy before costing jobs over a decade compared with the current baseline. The tax policy center said Trump’s plan would decrease federal revenue by $6.2 trillion over a decade, and the top 1 percent of earners would receive almost half the benefit of his proposed tax cuts.

The main reason for the differing outcomes is the plans’ effects on the federal debt, according to the analysis by economists and computer engineers. Both the Center and the Wharton group describe themselves as nonpartisan.

Source: Bloomberg