Republican presidential candidate Donald Trump today promised a four per cent growth rate by bringing in massive investment into infrastructure sector, low tax rates and bring US money stacked overseas, a day after his Democratic rival Hillary Clinton slammed his economic plans.
All of this, Trump said, would result in creation of large scale jobs in the country. “I think we’ll get better than 4 per cent growth,” Trump told Fox news.
Responding to a question on Clinton’s plan to invest $275 billion in next five years, Trump said his figures would be at least double the amount. Trump said he would get the necessary money by raising stock bonds and offering this to people.
“Well, I would say at least double her numbers, and you’re going to really need more than that. We’re going to go out with a fund, we’ll get a fund, we’ll make a phenomenal deal with the low interest rates, and we’re going to have to rebuild our infrastructure. We have no choice,” he said, adding that people would put money into the fund.
He promised to bring down the income tax rate. “Don’t forget, just the 2.5 trillion, which I actually think is $5 trillion — that all of these companies have outside of the US, and you know about corporate inversion. A lot of companies are leaving in order to get their money,” he said.
“They’re leaving because taxes are too high. But they’re also leaving to get the money. They can’t bring the money back in. So they have money outside of the country, they’re leaving to get their money because they can’t bring it in.
Just bringing that money in will be tremendous, tremendous,” he said, giving his prescription to revive the economy.
Trump said he is going to make it possible for companies to take their $2.5 trillion back and bring it to this country, which right now it’s prohibited, they can’t do it.
“We have a great plan, and we are going to rebuild our infrastructure. Her (Clinton’s) number is a fraction of what we’re talking about. We need much more money than that to rebuild our infrastructure, our roads,” he said.