Hillary Clinton formally gave her acceptance speech last night at the Democratic National Convention in Philadelphia, Pennsylvania. The core takeaway was a phrase she repeated several times, that she will make the economy one that “works for everyone.”
Clinton’s speech suggests heavier tax burdens and regulations on corporations, as she boldly announces her plan to raise minimum wage and her belief that companies should not “take tax breaks with one hand and give out pink slips with another.” Her argument is that companies should share their profits, “not pad executive bonuses.”
Slamming large business was a bulky part of the speech, even when Clinton ironically claims she doesn’t resent success. She addresses that she will take money from companies that have “gotten” (rather than “earned”) wealth in the U.S. so she can use it to support democratic governmental initiatives.
After sharing a policy-making laundry-list for subjects like equivalent pay, ‘women’s health’ issues, social security expansion and free tuition, Clinton says “we’re not only going to make all these investments, we’re going to pay for every single one of them. And here’s how: Wall Street, corporations, and the super-rich are going to start paying their fair share of taxes.”
She did say a few things that could be positive for the future of business. She offers that a “four-year degree should not be the path to a good job,” defending those who want to learn a skill or practice a trade. She also gives her support to American steelworkers, autoworkers and manufacturers by saying she will not give in to unfair trade deals with production-powerhouse countries like China.
Overall however, Clinton’s goal to “make the economy work for everyone” may not reconcile with her announced plans – especially for those who like to save and spend their own money as they choose, including American businesses.