10 Things You Should Know about Hillary Clinton’s Stance on Business

With the political season heating up and debate, after debate filling up our TV screens, candidates are discussing and delivering their plans for what they will do when they reach the White House. The candidates offer a varying range of different points of view on a number of topics and a handy chart may be the only way to discern who is saying what. But one topic that may jump to the forefront is each candidate's take on the business world.

 

A recent poll by NBC News found that nearly two-thirds (64 percent) of those polled believe business corporations are not towing the line fairly between making a profit and listening to the public. Candidates also toe the line very carefully between what the public wants and corporate interests, but it’s important to remember the American public still work for these businesses.

 

Former Secretary of State Hillary Clinton is one of these candidates and has given a glimpse through her website and speeches about her thoughts about what she will do for the business sector. Here are 10 things you should know about Hillary Clinton’s stance on business:

 

 

During her preliminary campaign run, Secretary Clinton stopped by a fundraiser for Massachusetts gubernatorial candidate Martha Coakley in October 2014 and had some choice words about businesses. Clinton argued against trickledown economics and wanted to cut taxes to help businesses thrive.

 

“Don’t let anybody tell you that it’s corporations and businesses that create jobs,” Clinton said. “You know that old theory, trickle-down economics. That has been tried, that has failed. It has failed rather spectacularly.”

 

Clinton backtracked very quickly and said, "Let me be absolutely clear about what I've been saying for a couple of decades: Our economy grows when businesses and entrepreneurs create good-paying jobs here in an America where workers and families are empowered to build from the bottom up and the middle out -- not when we hand out tax breaks for corporations that outsource jobs or stash their profits overseas."

 

 

Businesses are tied to the overall picture of the economy. When the economy is doing well, a business will thrive. During a speech in July in New York, Secretary Clinton said she would like to start regulating financial institutions better to help the economy.

 

“Today’s marketplace focuses too much on the short-term, like second-to-second financial trading and quarterly earnings reports, and too little on long-term investments,” Clinton said.

 

 

One idea her campaign has outlined would be for workers to take more of an ownership stake in the business they work for. Five Thirty Eight said that Clinton has proposed a profit-sharing plan, which would give workers a slice of ownership, evenly distribute company stock gains and most importantly improve worker morale and productivity.

 

 

During the same press conference in July, Clinton said that there are a number of avenues to try for economic growth, including concentrating on small businesses and opening doors for them.

“Small businesses create more than 60 percent of new American jobs on net, so they have to be a top priority,” she said. “I'm going to be talking [on the campaign trail] about how we empower entrepreneurs with less red tape, easier access to capital, tax relief and simplification.”

 

 

Sometimes businesses need a little push in order to go from small time to big time. That can be achieved by trying a new platform, experiment with a new business model or opening up another location and starting a franchise. According to her campaign’s website, Secretary Clinton will encourage more businesses to tap into new markets that will allow them to sell their products anywhere in America.

 

 

In July, Secretary Clinton outlined an economic agenda at a speech in New York. Like any good politician, she kept most of the specifics close to the vest, but one idea that was brought up was tax incentives for corporations. The “rising incomes, sharing profits” tax credit would allow companies to have a two-year credit, on par with 15 percent of profits that would then be passed out to employees, according to The New York Times. That would then be capped at 10 percent of wages and cost somewhere between $10 billion to $20 billion over 10 years. Clinton said the goal would be for businesses to give back to their employees.

 

 

It may be difficult for smaller businesses to get the help they need from higher ups because of government red tape. A little assistance from the government could make all the difference in the world. Outlined at Clinton’s campaign site, she will try to slash the red tape involved with getting a business off the ground and reaching out to others for help.

 

 

Too many times a business may have difficulty going the extra mile because they have roadblocks when getting assistance from the government. Secretary Clinton will lay out a plan to help business owners navigate their way to getting funding.

 

 

Secretary Clinton has discussed trying to halt the crazy whirlwinds that are occurring with the trading market. To combat these issues, Secretary Clinton has suggested creating a tax for high-frequency trading; particularly on order cancellations to help stabilize the market.

 

 

Along with adjusting taxes for bigger corporations, Secretary Clinton said she would like to make it easier for businesses to get some tax relief. Her plan revolves around simplifying tax filing for smaller businesses that may not have the luxury of having corporate lawyers at their disposal. With this in place, businesses would find some relief and concentrate on other parts of the business such as marketing or attending to the number one priority, customers.