Changes

Part of Trump's reasoning seems to stem from his belief that there are too many taxes and regulations on small businesses. He said of this plan, the first step towards a solution is "We have to stop jobs from leaving the United States. The first thing you do is don't let the jobs leave." [https://www.washingtonpost.com/news/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/] The vagueness he displayed last night isnPart of Trump't new; s reasoning seems to stem from his belief that there are too many taxes and regulations on small businesses. However, Trump has a general lack of focus or specificity regarding tech and innovation policy. To the extent there is a sector focus, it is on traditional manufacturing, which he demonstrated on Monday night. [http://www2.itif.org/2016-clinton-vs-trump.pdf?_ga=1.265865103.1823216071.1474990123] To learn more about Trump's plan in detail, please see McNair's blog post Trump|Pence and Entrepreneurship. During the debate, Clinton characterized Trump's plan as "trumped-up trickle down economics". [https://www.washingtonpost.com/news/the-fix/wp/2016/09/26/the-first-trump-clinton-presidential-debate-transcript-annotated/]. Planet Money describes trickle-down economics as a pejorative term for supply-side economics, and as the tax approach famously associated with Ronald Reagan. [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the-debate] The idea is that cutting taxes for the wealthy will help the whole economy, because the money that wealthy people are not paying in taxes will be spent in other ways. Rich people will buy things, or hire people, and that money will then trickle down to the rest of the economy. Trickle-down economics' effectiveness is contentious among economists and an issue that divides the candidates in this election.