Clinton Says Economic Growth Necessary to Overcome Inequality
(Washington, D.C.) – In recent comments before the Peter G. Peterson Foundation Fiscal Summit, former President Clinton highlighted the importance of job creation for reducing income inequality. According to reports, Clinton noted the U.S. income tax code is progressive, and that "we can't just tax our way out of this." Clinton called for reform that lowers corporate rates to encourage firms to bring profits earned abroad back to the U.S. for investment – generating economic growth. Clinton said that to reduce income inequality, the United States needs "tight labor markets and a changing job mix." Elsewhere in his remarks, Clinton defended President Obama's handling of health care reform, and endorsed a minimum wage increase.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"President Clinton has identified one of the critical problems with Washington's current approach on the economy. Yet, this White House seems to be focused only on more regulation, more spending, and more taxes – which we have already seen will not help the economy grow. Former President Clinton is recommending tax cuts and other measures to spur job creation – which will do more to raise wages and help families than any tax increase or new regulation from Washington. While some of Clinton's recommendations are misguided- and would harm the economy – the primary focus should be on these important points.
The Senate has so far refused to consider a number of measures passed by the House, which may help job creation. It is time for members in both parties to reach across the aisle and find common ground on measures that may help get our economy moving again."