Hillary Clinton delivered a speech on the economy earlier today in New York City. Here are the talking points the Clinton campaign sent along to friends and allies, hoping that they'll repeat these lines on cable news and in conversations:
Friends & Allies Talking Points – Clinton’s Economic Vision Hillary for America
July 11, 2015
For Hillary Clinton, the defining economic challenge of our time is ensuring that the real incomes of everyday Americans are rising steadily and strongly. To improve the economy, she believes that economic growth alone is not enough. She firmly believes that, yes, we must grow but that we must grow together – with middle-class incomes rising alongside corporate profits and executive compensation.
Hillary Clinton understands that our current economic challenges are unique. She knows that, while both Presidents Clinton and Obama had successful economic records, the challenges we face today are unlike those in 1992 or 2000 or 2008.
In facing these challenges, Republicans continue to offer the same top-down policies, only in different packaging. While Republicans are increasingly seeking to address the economic plight of middle class Americans, if you look beyond their rhetoric, they are proposing the same top-down policies that rely on the Reagan-era economic theory that tax cuts for the wealthy will fuel growth which, in turn, will indirectly improve outcomes for the middle class.
Hillary Clinton believes we must be deliberate about seeking to increase middle-class incomes and not merely hope it occurs as a byproduct of growth pursued for its own sake. In that vein, she will propose a three-point approach for achieving a specific kind of growth that lifts middle-class wages:
1. STRONGER GROWTH: Increase private and public investment and unleash workforce participation.
· To create more good-paying jobs, Clinton will call for increased private and public investment, with a specific focus on stepping up funding for infrastructure and R&D, including establishing an infrastructure bank, expanding college affordability and job training to boost wages and skills, making America the world’s clean energy superpower, and providing tax relief to small businesses, which create 60 percent of new jobs in America.
· She will say we need to break down barriers to joining the workforce – especially for women – so more Americans get the chance to work, produce, and earn. The movement of women into the workforce between 1970 and 2009 was responsible for more than $3.5 trillion in economic growth, but that progress has stalled. Key policy areas to address this include child care, paid leave and paid sick days.
2. FAIRER GROWTH: Reward work more fairly to reduce inequality.
· Clinton will note that research confirms that concentrating an enormous amount of wealth in a very small number of hands actually holds back long-lasting growth. By contrast, when there’s a strong middle class, then growth is stronger and more durable.
· The current rules for our economy reward some work, especially financial trading, much more than other work, like building and selling things. To address this problem, Clinton will point to President Obama’s new rules on overtime as a good start and will also urge raising the minimum wage, fighting wage theft, reducing health care costs, supporting collective bargaining, and reforming our tax code to make sure the wealthiest pay their fair share, among other proposals that will expand opportunity, raise incomes, and reduce inequality.
3. MORE DURABLE GROWTH: Encourage long-term thinking and more sustainable business strategies.
· Clinton will observe that our economy is plagued by a mindset of quarterly capitalism. Too much of our economy has become focused on making a quick buck instead of building real value, which creates bubble-driven growth that is not lasting, and that propels middle-class households temporarily, only to rip away those gains.