Changes

Offering a sharp contrast to Trump, Clinton characterized approach to revitalizing the economy as being very specific. In fact, she said of her multi-faceted plan at the debate, “I’ve tried to be very specific about what we can and should do." [http://blogs.wsj.com/economics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/] "Generally, Clinton wishes to engage the government as a private industry partner in implementing innovation policies. [http://www2.itif.org/2016-clinton-vs-trump.pdf?_ga=1.265865103.1823216071.1474990123] She wishes to grow federal Research and Development pages [http://www2.itif.org/2016-clinton-vs-trump.pdf?_ga=1.265865103.1823216071.1474990123], and would increase access to capital for small businesses. She said of her multi-faceted plan at the debate, “I’ve tried to be very specific about what we can and should do." [http://blogs.wsj.com/economics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/] To learn more about Clinton's plan in detail, please see McNair's blog post Clinton|Kaine and Entrepreneurship. During the debate, Trump attacked President Bill Clinton's support of NAFTA in the 1990's. Clinton responded by saying, “I think my husband did a pretty good job in the 1990s,” she said. “Incomes went up for everybody.” [http://blogs.wsj.com/economics/2016/09/27/presidential-debate-an-economy-about-to-take-off-or-a-bubble-about-to-burst/]  One place both Clinton and Trump reached consensus was over carried interest. Carried interest goes back to the early days of shipping. The owner of the cargo would pay a ship captain with a percentage of the final sale of the cargo they carried on their ship. That gave the captain an incentive to sell for a high price at the other end of the journey. This same principle applies today to certain investment firms. The managers of the firms take people's money to invest, and just like the old sea captains, they get a cut of the profits. It's essentially their paycheck, but the fund managers don't pay regular income taxes on it. It's taxed at an investment rate. Both candidates want to get rid of the carried interest provision. [http://www.npr.org/sections/money/2016/09/27/495693013/episode-726-terms-of-the-debate]