How Trump, other GOP candidates would tackle income inequality
From Donald Trump to the those trailing him in the polls, plans to strengthen the American middle class and reduce inequality have become major talking points for GOP presidential hopefuls.
Republican presidential candidate Donald Trump walks from the area with security after speaking at a rally organized by Tea Party Patriots in on Capitol Hill in Washington on Sept. 9, 2015.
Carolyn Kaster/AP/File
Donald Trump, front-runner in the GOP presidential candidate race, has plans to make the wealthy pay. He wants to eliminate tax breaks for the rich, raise taxes on the wealthy, and lower CEO pay.
鈥溾�� You see these guys making enormous amounts of money, and it鈥檚 a total and complete joke,鈥� he said in .
The billionaire鈥檚 details on how he plans to accomplish his economic goals are a little vague. He admitted lowering CEO pay would be difficult with cronyism and other factors at work. But, the populist economic approach and many of his other views have been resonating with voters, as Trump sits at 33 percent of the votes according to a September Washington Post-ABC
Other Republican candidates are following Trump, with many taking swings at inequality in their public approach to economic issues. Here are a few highlights:聽
Chris Christie
New Jersey governor Chris Christie has been lamenting income inequality and blaming it on the federal government since May. During an appearance in New Hampshire, a strategic state for presidential candidates, he blamed President Obama for the state of the middle class.
鈥淭he Fed鈥檚 easy money policies and the president鈥檚 anti-growth policies have made the rich even richer and made our middle class work longer and harder for less pay and less promise for the future,鈥� Christie
Christie furthered his critique in August, according to , and offered an additional explanation:聽鈥淗ere鈥檚 the problem: Middle-class wages are stagnant for 15 years, and in fact they鈥檙e behind the rate of inflation.鈥�
Ted Cruz
Ted Cruz (R., Texas) also has decried income inequality. While simultaneously criticizing Obama鈥檚 and Hillary Clinton鈥檚 economic plans and indicating that under their policies, income inequality has increased, Cruz addressed inequality as a major issue.聽
鈥淭oday the top 1 percent earn a higher share of our national income than any year since 1928,鈥� Cruz following Obama鈥檚 2015 State of the Union address.
Jeb Bush
In March, former Florida governor Jeb Bush unveiled his 鈥淩ight to Rise鈥� 聽campaign plan, which is also the name of his presidential super PAC, during a聽聽in March.聽聽He pledged to address income inequality, poverty, and education to aid American economic mobility.
鈥淭he opportunity gap is the defining issue of our time. More Americans are stuck at their income levels than ever before鈥� This should alarm you. It has alarmed me,鈥� he said.
Democratic front-runner Hillary Clinton attacked the slogan at an appearance in July, saying,聽鈥淚 don鈥檛 think you can credibly say that everybody has a 鈥榬ight to rise鈥� and then say you鈥檙e for phasing out Medicare or for repealing Obamacare. People can鈥檛 rise if they can鈥檛 afford health care. They can鈥檛 rise if the minimum wage is too low to live on.鈥�
Mr. Bush, like many politicians on both sides, has also focused on the risk of having extra-large banks playing an outsized role in the US economy.聽
鈥淲e have more banks with more concentrated assets in the United States, and the systematic risk is perhaps greater now鈥︹�澛犅燘ush at an event in Berlin in June.
Rand Paul
Rand Paul (R-Ky.) has also expressed concerns with banks getting too big and the pontential impact on income inequality. In an interview with聽, Paul spoke about introducing a wall that separates commercial and investment banking.聽
In August, however, Paul also said聽, 鈥淭he thing is, income inequality is due to some people working harder and selling more things, so if people voluntarily buy more of your stuff, you鈥檒l have more money.鈥�
Scott Walker
Scott Walker, governor of Wisconsin, has been largely dismissive of income inequality and continues to stick with messages of self-reliance.
鈥淚n America the opportunity is equal for each and every one of us, but in America, the ultimate outcome is up to each and every one of us individually,鈥� he said during his .