Hillary Lays Out Vision for Economy

Democratic presidential candidate Hillary Clinton reacts to applause at the end of speaking at the New School in the Manhattan borough of New York City, July 13, 2015.  REUTERS/Mike Segar

July 13, 2015. REUTERS/Mike Segar

In her first major policy speech today since announcing her candidacy for president, Hillary Clinton put higher wages for low-income workers at the heart of her economic policy outline saying “I believe we have to build a growth-and-fairness economy.”

Hillary also spoke out about the rise in corporate profits, taking a jab at big industry, as she said, “Corporate profits are at near-record highs and Americans are working as hard as ever but paychecks have barely budged in real terms.”

Clinton also took on Wall Street today in her speech saying, “Too many of our major financial institutions are still too complex and too risky and the problems are not limited to the big banks that get all the headlines.”

Clinton warned that “serious risks are emerging from institutions in the so-called shadow banking system including hedge funds, high-frequency traders, non-bank finance companies”

Income equality is at an all time low. Many workers are stuck in the gig economy, as I noted in my last post. Hillary Clinton proposed these solutions for economy in her speech today:

  1. Strong Growth – She believes we must grow our economy by making smart investments that boost growth, such as in research and development, infrastructure, clean energy, and tax relief for small businesses and the middle class. And she will call for breaking down barriers to joining the workforce, especially for women, by promoting paid leave and affordable child care so that more Americans are working, producing, earning, and therefore supporting growth.
  2. Fair Growth – She called for giving workers the chance to share in the profits they help produce and outlined how we can achieve fairer growth and reduce inequality by raising the minimum wage, reducing health care costs, supporting collective bargaining, reforming our tax code, and improving the quality and accessibility of our education and training system from early learning through college and beyond.
  3. Long-Term Growth – She will push corporations to abandon “quarterly capitalism” through policies like a reformed tax system that rewards long-term over short-term investments. She also committed to defend Wall Street reform and take them further by pursuing further reforms to tackle size, risk, and complexity, by regulating shadow banks, and by holding individuals – not just corporations – accountable.

Word has it that Hillary has a series of upcoming speeches in which she will lay out more of her vision for economy including “increasing the minimum wage, creating universal preschool and investing in infrastructure.”

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About Pamela Leavey

Pamela Leavey is the Editor in Chief, Owner/Publisher of The Democratic Daily as well as a freelance writer and photographer. Pamela holds a certificate in Contemporary Communications from UMass Lowell, a Journalism Certificate from UMass Amherst and a B.A. in Creative Writing and Digital Age Communications from UMass Amherst UWW.

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