Clinton proposes a "fair share surcharge" on multimillionaires and billionaires and says she wants to make sure the wealthiest Americans don't pay a lower tax rate than middle-class families. The Democratic nominee wants to implement an "exit tax" on untaxed overseas earnings of U.S. companies. She wants to cut taxes for small businesses, who pay more per employee than larger firms.
In a speech in August, Trump stressed the need to cut corporate tax rates and to make all child care expenses tax-free. The Republican nominee also called for the removal of the estate tax—also known as the "death tax"—and for a reduction of the number of tax brackets from seven to three. The three tax brackets proposed are 12 percent, 25 percent, and 33 percent. Trump also promised in his speech a zero tax rate for many working Americans.
Clinton says she will strengthen trade enforcement and stand up to foreign countries "that aren't playing by the rules." Clinton previously favored the Trans-Pacific Partnership (TPP), but now opposes it, saying the trade deal does not meet her "high standard of raising wages, creating good-paying jobs, and enhancing our national security." Clinton previously favored the North American Free Trade Agreement (NAFTA), which was signed by President Bill Clinton, but during her 2008 campaign she spoke against NAFTA, saying it was a "mistake."
Trump is against the TPP and wants to renegotiate NAFTA. If Canada and Mexico do not agree to a renegotiation, then the United States should submit notice that it intends to withdraw from the trade pact, Trump proposes. He says "we have to keep our companies here" and "tax the goods coming in from companies that left." Trump also vows that China will face consequences for being a "currency manipulator."
Clinton plans to "make the biggest investment in new, good-paying jobs since World War II" during her first 100 days in office, she said at a rally with running mate Tim Kaine in July. Her strategy includes creating jobs through investment in infrastructure, manufacturing, research and technology, clean energy, and small businesses. Clinton said she will raise the federal minimum wage, restore collective bargaining rights for unions, and defend workers' rights.
Trump, who says he has already created tens of thousands of jobs throughout the United States, vows that he "will be the greatest job producing president that god ever created" and that he will bring back jobs from China, Mexico, Japan, and Vietnam. His campaign says he will create 25 million jobs with an economic plan that will boost growth at an average of 3.5 percent per year.