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RTX76YH7
Where the top 2020 candidates stand on jobs, taxes and the economy
Republican Donald Trump is touting tax cuts and economic gains during his presidency as a reason why he should get re-elected in November 2020.

Democrats hoping to thwart his bid for a second term say, however, that Trump's economy has only benefited the rich while leaving behind the working class. Many are proposing broad changes such as a rollback of Trump's tax cuts and free college tuition.

One sign of how broad the appetite for change is among Democrats: All but one of the dozen candidates who qualified for the Oct. 15 Democratic debate want to more than double the federal minimum wage to $15 an hour from $7.25.

The one who did not support such an increase, businessman Andrew Yang, instead wants to pay every American adult $1,000 per month.

Here are some of the views of the top 2020 presidential candidates on jobs, taxes and government assistance.
USA-ECONOMY/UNEMPLOYMENT
RTX6MAUG
February 11, 2019
Republican Donald Trump is touting tax cuts and economic gains during his presidency as a reason why...
Cambridge, UNITED STATES
A "Now Hiring" sign sits in the window of Tatte Bakery and Cafe in Cambridge
Republican Donald Trump is touting tax cuts and economic gains during his presidency as a reason why he should get re-elected in November 2020.

Democrats hoping to thwart his bid for a second term say, however, that Trump's economy has only benefited the rich while leaving behind the working class. Many are proposing broad changes such as a rollback of Trump's tax cuts and free college tuition.

One sign of how broad the appetite for change is among Democrats: All but one of the dozen candidates who qualified for the Oct. 15 Democratic debate want to more than double the federal minimum wage to $15 an hour from $7.25.

The one who did not support such an increase, businessman Andrew Yang, instead wants to pay every American adult $1,000 per month.

Here are some of the views of the top 2020 presidential candidates on jobs, taxes and government assistance.

Pictured: A "Now Hiring" sign sits in the window of Tatte Bakery and Cafe in Cambridge, Massachusetts, February 11, 2019. (Reporting by Trevor Hunnicutt in New York; Editing by Soyoung Kim and Peter Cooney) REUTERS/Brian Snyder
USA-TRUMP/
RTX763FI
October 04, 2019
Republican President Donald Trump:

Trump credits his administration's efforts to deregulate industries...
Washington, UNITED STATES
Trump returns to the White House in Washington
Republican President Donald Trump:

Trump credits his administration's efforts to deregulate industries and cut taxes for a bullish stock market and a historically low unemployment rate.

"Do you think it was luck that got us to the best Stock Market and Economy in our history," the president asked on Twitter last month. "It wasn't!"

Yet economic growth rates have slowed this year as the benefits of the 2017 tax cut fade and tariffs imposed on Chinese imports hurt American farmers and manufacturers.

Trump is now considering additional tax cuts for the middle class, and White House economic adviser Larry Kudlow said in September that such a plan would be announced in mid-2020.

Trump also wants to make new investments in infrastructure, from roads to airports, and negotiate new trade deals, particularly with China. REUTERS/Kevin Lamarque
USA-ELECTION/BIDEN
RTX76VXK
October 09, 2019
Former Vice President Joe Biden:

Biden, a top contender for the 2020 Democratic nomination, would roll...
Manchester, UNITED STATES
Democratic 2020 U.S. presidential candidate and former Vice President Joe Biden speaks at a campaign...
Former Vice President Joe Biden:

Biden, a top contender for the 2020 Democratic nomination, would roll back some of the 2017 tax cuts. Doing so would help pay for his plans to improve and expand the Affordable Care Act, formally known as Obamacare, which was passed in 2010 but which Trump has sought to replace.

Biden wants to roll back some of Trump's tax cuts by raising the marginal tax rate on the highest income earners back to 39.6%, from 37%, and would also raise some taxes on investment profit.

Like many of the Democratic candidates, he also supports expanding some tax credits for lower-income workers and raising the federal minimum wage.

"It's time to reward work, not just wealth," Biden says regularly in campaign events. Yet Biden has stopped short of endorsing some of the more aggressive economic proposals of his rivals, from universal income guarantees to imposing federal taxes on wealth.

Mayor Pete Buttigieg of South Bend, Indiana

Hailing from a city ravaged by the loss of automobile manufacturing, Buttigieg has emphasized efforts to renew a U.S. economy he sees as tilted to the wealthy.

"Our country is in trouble," he said in a debate in July. "GDP is going up and life expectancy is going down. Think about what that means. And it's only getting tougher."

Buttigieg proposes plans to pour billions of dollars of investment into the African-American community and into rural areas. He has also proposed legislation requiring companies to disclose gender pay disparities and boosting paid sick leave and family-leave policies. REUTERS/Mary Schwalm
USA-ELECTION/BUTTIGIEG
RTX74GTD
September 24, 2019
Mayor Pete Buttigieg of South Bend, Indiana:

Hailing from a city ravaged by the loss of automobile manufacturing,...
Davenport, UNITED STATES
Pete Buttigieg, South Bend Mayor and Democratic presidential hopeful, speaks at a campaign event at Saint...
Mayor Pete Buttigieg of South Bend, Indiana:

Hailing from a city ravaged by the loss of automobile manufacturing, Buttigieg has emphasized efforts to renew a U.S. economy he sees as tilted to the wealthy.

"Our country is in trouble," he said in a debate in July. "GDP is going up and life expectancy is going down. Think about what that means. And it's only getting tougher."

Buttigieg proposes plans to pour billions of dollars of investment into the African-American community and into rural areas. He has also proposed legislation requiring companies to disclose gender pay disparities and boosting paid sick leave and family-leave policies. REUTERS/Elijah Nouvelage
USA-ELECTION/GUNS
RTX75U1E
October 03, 2019
U.S. Senator Kamala Harris of California:

The former prosecutor supports reversing Trump's tax cut on...
Las Vegas, UNITED STATES
U.S. Democratic presidential candidate Sen. Kamala Harris (D-CA) listens to a question from the audience...
U.S. Senator Kamala Harris of California:

The former prosecutor supports reversing Trump's tax cut on corporations and high-paid workers and using the extra revenue to expand tax rebates for the middle class.

Harris also wants to expand support for college tuition and paid family leave and provide tax credits to people who spend at least 30 percent of their income on rent and utilities.

She proposes paying for a proposed expansion of government-provided healthcare benefits by raising taxes on companies and the top 1% of income earners, as well as new levies on stock and bond transactions. REUTERS/Steve Marcus
USA-ELECTION/SANDERS
RTX74KGK
September 25, 2019
U.S. Senator Bernie Sanders of Vermont:

Sanders, a U.S. senator from Vermont and a self-described "democratic...
Hamtramck, UNITED STATES
Democratic U.S. presidential candidate Senator Bernie Sanders addresses striking United Auto Workers...
U.S. Senator Bernie Sanders of Vermont:

Sanders, a U.S. senator from Vermont and a self-described "democratic socialist," won a devoted following with a message during the 2016 Democratic nominating race about income and wealth inequality.

In his second run for the party's nomination, Sanders has rolled out aggressive proposals, including guaranteeing all Americans a job, canceling student loan and medical debt, paying for tuition-free public colleges and raising taxes on the wealthy.

Sanders and a fellow progressive presidential candidate, U.S. Senator Elizabeth Warren of Massachusetts, also support a wealth tax.

Sanders said his proposed "tax on extreme wealth" would begin at 1% for those with a net worth above $32 million and rise in increments to 8% on wealth over $10 billion, hitting the wealthiest 180,000 Americans.

Many of Sanders' proposals, however, are controversial and seem unlikely to garner the necessary support from Congress if the Senate stays in Republican hands after next year's elections. REUTERS/Rebecca Cook
USA-ELECTION/WARREN
RTX760XN
October 04, 2019
U.S. Senator Elizabeth Warren of Massachusetts:

Before joining Congress, Warren rose to prominence for...
San Diego, UNITED STATES
U.S. democratic presidential candidate Elizabeth Warren holds an outdoor rally in San Diego, California...
U.S. Senator Elizabeth Warren of Massachusetts:

Before joining Congress, Warren rose to prominence for pushing to strengthen consumer protection after the 2008 global financial crisis.

As a presidential candidate, she has become known for a sweeping series of plans for economic reforms, including a wealth tax. That plan would tax 2% of people's net worth above $50 million and 3% for wealth over $1 billion.

Warren also supports hiking Social Security benefits for older Americans, canceling some student-loan debt, making tuition free at public colleges and breaking up technology companies, such as Alphabet Inc's Google, Amazon.com Inc, Facebook Inc and Apple Inc, which she regards as monopolies. REUTERS/Mike Blake
USA-ELECTION/BOOKER
RTX765NJ
October 05, 2019
U.S. Senator Cory Booker of New Jersey:

Booker has focused his campaign on the "common pain" felt by...
Los Angeles, UNITED STATES
Democratic presidential candidate New Jersey Sen. Cory Booker attends the SEIU's Unions for All summit...
U.S. Senator Cory Booker of New Jersey:

Booker has focused his campaign on the "common pain" felt by Americans because of racial and wealth inequality.

"The dream of this country is under threat right now," he said at a Democratic debate in July, noting that young people now may end up in worse shape financially than their parents.

The former Newark, New Jersey, mayor proposes giving American newborns $1,000 each and making additional annual contributions to the savings accounts of children from lower-income households.

The proposal is intended to give more people a chance at homeownership by giving them some cash that they could use to buy a house, but Booker would also propose giving renters a tax credit so they would not have to pay more than 30 percent of their income on shelter.

Booker also supports expanding tax credits and creating "a path to debt-free college." REUTERS/Eric Thayer
USA-ELECTION/GUNS
RTX75TYB
October 02, 2019
Former U.S. Representative Beto O'Rourke of Texas:

O'Rourke, a native of the U.S.-Mexican border town...
Las Vegas, UNITED STATES
U.S. Democratic presidential candidate and former Texas Congressman Beto O'Rourke responds to a question...
Former U.S. Representative Beto O'Rourke of Texas:

O'Rourke, a native of the U.S.-Mexican border town El Paso, has blasted Trump's use of tariffs as a "huge mistake" and has vowed to suspend them on his first day in office.

Tariffs "constitute the largest tax increase on the American consumer, hitting the middle class and the working poor especially hard, and farmers in Iowa and across the country are bearing the brunt of the consequences," O'Rourke said at a July Democratic debate. "When have we ever gone to war, including a trade war, without allies, friends and partners?"

The former U.S. congressman proposes imposing new taxes on financial transactions, raising Social Security benefits as well as directing government contracts to small businesses and those owned by women and ethnic minorities. REUTERS/Steve Marcus
USA-ELECTION/GUNS
RTX75U02
October 02, 2019
Businessman Andrew Yang:

The former tech executive is focusing his campaign on what he calls the "Freedom...
Las Vegas, UNITED STATES
U.S. Democratic presidential candidate and businessman Andrew Yang arrives for a forum held by gun safety...
Businessman Andrew Yang:

The former tech executive is focusing his campaign on what he calls the "Freedom Dividend" - Yang wants to give all Americans over the age of 18 a $1,000 check every month.

He has pitched the idea to support the economy, lift people out of poverty and help workers displaced by increasing automation.

Yang has proposed paying for the new benefit partly by levying a 10% value-added tax, a fee attached to purchases made by businesses and consumers.

He would also propose lifting taxes on capital gains and carried interest, two types of profit earned on investments, as well as introducing a new tax on financial transactions. REUTERS/Steve Marcus
USA-ELECTION/GUNS
RTX75TO3
October 02, 2019
Former U.S. Housing Secretary Julian Castro:

Castro, who was housing secretary under former President...
Las Vegas, UNITED STATES
U.S. Democratic presidential candidate and former Housing Secretary Castro responds to a question during...
Former U.S. Housing Secretary Julian Castro:

Castro, who was housing secretary under former President Barack Obama, wants to provide new tax rebates to low-income renters and developers of affordable housing. He also supports increasing tax rebates available to some parents and expanding childcare benefits.

He would pay for the benefits by imposing a new tax on inheritances over $2 million and repeal Republicans' 2017 tax cuts within his first 100 days as president. REUTERS/Steve Marcus
USA-ELECTION/GUNS
RTX75TZ5
October 02, 2019
U.S. Senator Amy Klobuchar of Minnesota:

Klobuchar, who has sponsored or co-sponsored more than 100...
Las Vegas, UNITED STATES
U.S. Democratic presidential candidate, Sen. Amy Klobuchar (D-MN) responds to a question during a forum...
U.S. Senator Amy Klobuchar of Minnesota:

Klobuchar, who has sponsored or co-sponsored more than 100 bills that became law, has proposed a list of more than 100 actions she wants to take in her first 100 days as president.

They include directing her attorney general to review mergers that have already taken place to prevent monopolies from forming, allowing students to refinance loans at lower interest rates and repealing part of the Trump tax cuts. REUTERS/Steve Marcus
USA-ELECTION/IOWA
RTS2M97T
August 12, 2019
Former hedge-fund manager Tom Steyer

Tom Steyer, a former investor who is the only billionaire among...
Des Moines, UNITED STATES
2020 Democratic U.S. presidential candidate, businessman, and political donor Tom Steyer speaks at the...
Former hedge-fund manager Tom Steyer

Tom Steyer, a former investor who is the only billionaire among the Democratic candidates, has said he supports a tax that would cut his own wealth.

He has proposed charging people with a net worth over $32 million a new 1% tax.

For middle-income workers, he wants to increase tax rebates and retirement benefits. He also plans to guarantee two years of free college, refinance student loans at lower interest rates and increase investment in infrastructure. REUTERS/Scott Morgan
USA-ELECTION/IOWA-GUNS
RTS2M3II
August 10, 2019
U.S. Representative Tulsi Gabbard of Hawaii:

The Iraq war veteran and congresswoman from Hawaii has...
Des Moines, UNITED STATES
2020 Democratic U.S. presidential candidate and U.S. Rep. Tulsi Gabbard speaks during the Presidential...
U.S. Representative Tulsi Gabbard of Hawaii:

The Iraq war veteran and congresswoman from Hawaii has centered her campaign on her anti-war stance, not the economy. But she has also said she would serve "the interests of all Americans, not just the rich and powerful" as president and said that many Americans had struggled financially since the 2008 global financial crisis.

She has advocated taking money currently spent on the military and "tax giveaways" to wealthy people and corporations and using that to expand Social Security programs for the old and disabled. REUTERS/Scott Morgan
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