JOBS AND THE ECONOMY
1. Education gives us mobility and strength
Education gives people options. Restoring U.S. leadership in education is how we innovate and create a strong economy for everyone. It’s not just universities that play a role here, it’s public K-12, trade schools and apprenticeships. See education for more details
2. The wealth gap threatens our economy
The last time income and wealth inequality were as high as they are now was 1928, and we all know what happened a year later. The richest 1% in America own more wealth than the rest of us combined, while the bottom 90% hold 73% of all debt. Low and middle income people need more money in their pockets.
While the stock market makes record breaking gains day after day, wages are not keeping up. That’s why I will swap corporate tax breaks with a broad-based tax credit that will incentivize companies to profit-share with their workers, giving millions of low and middle income people a piece of our financial prosperity.
Big companies and financial institutions are standing in the way of wage growth and mobility. We should find new ways of enforcing antitrust law to promote competition, and prevent companies from forcing non-competition agreements which keep 1 in 7 workers from pursuing higher pay
3. Barriers and red tape
Regulation is a necessary vehicle to protect workers and the health and safety of consumers, but no bureaucratic agency is without fault or potential to misuse its power, and rules have to keep up with the times.
I support reinstating the bipartisan Byrd Committee in Congress, which historically did the job of identifying non-essential government regulations and expenditures and eliminating them from the budget.
This will prevent government from spending taxpayer money to enforce regulations that are no longer relevant or useful.
The issue of states putting up barriers to entry is also growing and important. In some states you have to undergo more training to become a hairdresser than to sell insurance, and differences in rules make it hard for people to expand their businesses across state lines. We should work with state governments to standardize occupational licensing and make sure people aren’t losing opportunity because of it.
4. Turn off the corporate welfare faucet
The average American spends $2,600 in taxes each year to prop up profits for the biggest corporations in America. This is not what a competitive free enterprise economy looks like, and it leads to billions of dollars spent on finding every loophole in the tax code instead of investing in our country. If we are to have an economy that works for everyone, we must first quit tilting it to work for a select few.