Presidential Candidates and Entrepreneurship

Donald Trump

Donald Trump (Entrepreneurship and Innovation)

Tweets directed specifically to entrepreneurs

All tweets here are taken from (Forbes) and begin with the address "Entrepreneurs: "

• "There's nothing wrong with bringing your talents to the surface. Having an ego and acknowledging it is a healthy choice."
• "Learn to trust yourself. Being an entrepreneur is not a group effort."
• "Look at the solution, not the problem. Learn to focus on what will give results."
• "Identify your goals, know precisely what you want to achieve. Then study the best people in your field and learn from them."
• "Keep the big picture in mind. There are always opportunities and possibilities & thinking too small can negate a lot of them."

Protecting American Innovation from China (Intellectual Property)

This quote is taken from Donald Trump's 4-tiered "Trump Plan" on U.S.-China Trade Reform:

"Protect American ingenuity and investment by forcing China to uphold intellectual property laws and stop their unfair and unlawful practice of forcing U.S. companies to share proprietary technology with Chinese competitors as a condition of entry to China’s market." (DTW - E&I)

Spurring Small Businesses through Lower Tax Rates

"Too many companies – from great American brands to innovative startups – are leaving America, either directly or through corporate inversions. The Democrats want to outlaw inversions, but that will never work. Companies leaving is not the disease, it is the symptom. Politicians in Washington have let America fall from the best corporate tax rate in the industrialized world in the 1980’s (thanks to Ronald Reagan) to the worst rate in the industrialized world. That is unacceptable. Under the Trump plan, America will compete with the world and win by cutting the corporate tax rate to 15%, taking our rate from one of the worst to one of the best.

This lower tax rate cannot be for big business alone; it needs to help the small businesses that are the true engine of our economy. Right now, freelancers, sole proprietors, unincorporated small businesses and pass-through entities are taxed at the high personal income tax rates. This treatment stifles small businesses. It also stifles tax reform because efforts to reduce loopholes and deductions available to the very rich and special interests end up hitting small businesses and job creators as well. The Trump plan addresses this challenge head on with a new business income tax rate within the personal income tax code that matches the 15% corporate tax rate to help these businesses, entrepreneurs and freelancers grow and prosper." (DTW - TR)

Bernie Sanders

From FeelTheBern

Supporting Small Businesses: The backbone of a healthy economy is made up of small businesses on the “Main Streets” of America, not giant corporations on Wall Street. Bernie wants to make sure that small businesses have access to low-interest loans and other forms of support, so that they can thrive. He has a record of supporting legislation to help small businesses succeed. [1]

Entrepreneurship & Innovation: The United States has long been a world leader in entrepreneurship and innovation, which in turn are the engines that drive our economy. To continue this tradition of leadership and growth, Bernie has supported increasing access to education and training, and opposing intellectual property regimes [2]

Bernie also has some fascinating material on patents here: http://feelthebern.org/bernie-sanders-on-small-business-and-entrepreneurship/#entrepreneurship-and-innovation

Supporting Small Businesses

• Opposes tax breaks for corporations (BSWII)
• Supports low-interest loans and other forms of support for small businesses (BSWII)
• Supports net neutrality (YT)

Patent System Reform

• The way the patent system is currently structured has the effect of stifling innovation (BSWEI)
  • For example, in the pharmaceutical industry, much of research spending by private companies goes toward attempting to make drugs similar to those already patented rather than discovering new medicines and treatments
• Introduced the Medical Innovation Act in 2005 and 2007 to allow generic versions of new medications to be manufactured immediately in order to affordably satisfy demand, while introducing a prize fund to reward pharmaceutical innovations (Congress)

Quotes from the Democratic Debates

• "I think everybody is in agreement that we are a great entrepreneurial nation. We have got to encourage that. Of course, we have to support small and medium-sized businesses. But you can have all of the growth that you want and it doesn’t mean anything if all of the new income and wealth is going to the top 1 percent." (DD1)
• “You would all be amazed… about the amount of information private companies and the government has in terms of the Web sites that you access, the products that you buy, where you are this very moment. And it is very clear to me that public policy has not caught up with the explosion of technology. So yes, we have to work with Silicon Valley to make sure that we do not allow ISIS to transmit information...” (DD4)

Bernie Sanders(Entrepreneurship and Innovation

Hillary Clinton

Jump Starting Small Businesses

Hillary's four ways to jump start small business: http://www.inc.com/hillary-clinton/four-ways-to-jump-start-small-business.html

1. Cut the red tape
2. Expand access to capital
3. Tax relief
4. Expand access to new markets

"I want to be a small-business president, a president who does make it easier to start and run a small business in this country, so it seems less like a gamble and more like an opportunity. We have to level the playing field for our small businesses," Clinton said. [CNBC]

Support of Small Business

• Cut red tape in process to start businesses (HCW - SB)
• Provide tax relief and simplify tax filing (HCW - SB)
• Encourage tapping of new markets (HCW - SB)
  • Use innovative new platforms so companies can sell anywhere in America and the world (e.g. Amazon and Ebay)
• Improve access to capital by easing burdens on community banks (HCW - SB)
  • Easing burdens on community banks that provide credit to small-business owners and families looking to invest in their futures—without compromising protections for consumers or introducing new risks into the financial system

Technology

• "One of the best ways to drive jobs and improve our nation’s competitiveness is to invest in infrastructure and scientific research." (HCW-AI)
• "I understood that new technologies would reshape how we practiced diplomacy and development. We discussed how these tools were value-neutral. We had to act responsibly to maximize technology's benefits while minimizing the risks. Technology was opening up new avenues to solve problems and promote America's interests and values. We would focus on helping civil society across the world harness mobile technology and social media to hold governments accountable, document abuses, and empower marginalized groups, including women and young people." (OTI-HCT)

Quotes

• “We have to do the best possible job of sharing intelligence and information. That now includes the internet, because we have seen that ISIS is a very effective recruiter, propagandist and inciter and celebrator of violence. That means we have to work more closely with our great tech companies. They can't see the government as an adversary, we can't see them as obstructionists. We've got to figure out how we can do more to understand who is saying what and what they're planning.” (DD3)
• “I would hope that, given the extraordinary capacities that the tech community has and the legitimate needs and questions from law enforcement, that there could be a Manhattan-like project, something that would bring the government and the tech communities together to see they're not adversaries, they've got to be partners.” (DD3)