Developing an economy that works for all.
It’s been 10 years since the start of the Great Recession. A decade later the unemployment rate is at its lowest since 2000, the stock market has quadrupled, and our economy has grown by nearly $5 trillion.
But while many Americans have fully recovered, far too many have been left behind. Wages have risen, but wealth hasn’t rebounded. Middle class families are still struggling, and wealth inequality has continued to worsen.
To fulfill our nation’s promise as a land of opportunity for all, we need to develop an economy that works for everyone.
We need to:
- Raise the minimum wage. Hard-working Americans should be able to support themselves and their families on the salary from a full-time job, period.
- Make America a nation of small businesses again. As a businessman I know the importance of small business to the health of our economy and society. Too much power concentrated in the hands of a few, big corporations stifles innovation, slows wage growth and destroys jobs. Small companies promote innovation and create jobs that support our middle class.
- Make smart investments in infrastructure. Infrastructure provides the foundation for a healthy economy. Investing in modern and efficient roads, water lines, schools, bridges and ports is necessary for our economy to function and grow, connecting supply chains and distribution and creating millions of jobs each year.
- Make corporations pay their fair share. Despite the claim that US corporate tax rates are much higher than those of our peers, harming our competitiveness, after loopholes and deductions the effective corporate tax rate is now quite low. Corporations need to contribute their fair share of taxes so our government has the revenue it needs to help American families.
- Expand access to affordable childcare. Expanding access to high-quality, affordable childcare is one of the best ways to help low- and middle-income families and ensure the wellbeing and success of our children by giving them access to early learning initiatives.
- Address achievement gaps to address income gaps. Wealth inequality and the widening gap between the academic achievement of rich and poor are fundamentally intertwined. We can’t close one gap without addressing the other.