While candidates spent time talking about and paying tribute to the recent tragedy in Paris, the second Democratic debate also focused on the American economy. Here is what small business owners need to know.
On Nov. 14, three Democratic candidates spoke in Des Moines, Iowa, and opened with a solemn and serious discussion about the recent tragedy in Paris, which set much of the debate’s tone.
The second debate—featuring former Secretary of State Hillary Clinton, Vermont Sen. Bernie Sanders and Maryland Gov. Martin O’Malley—proved that the race toward the presidency is also “a contest to be Commander-in-Chief,” Yahoo reported. In an unexpected shift given her experience, Clinton fumbled her foreign policy proposal and was unable to dominate her opponents as expected, according to Yahoo.
But in addition to pressing foreign policy issues, the debate eventually moved toward discussions on business matters, including major small business sticking points from healthcare to labor laws.
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Here’s more on what the candidates said during the debate about key small business issues:
Tax reform
- Sanders wants to make public college free, increase social security benefits and spend $1 trillion on infrastructure. During the debate, he said he plans to accomplish this through imposing a tax on top earners.
- Clinton believes that because wages have not adjusted for inflation since the turn of the century, middle class families need a raise, not a tax increase. She proposed a tax plan that includes “taxing the wealthy more, closing corporate loopholes, deductions and other kinds of favorable treatment.”
- O’Malley: “I believe that we paid for many of the things that we need to do again as a nation by the elimination of one big entitlement that we can no longer afford as a people. And that is the entitlement that many of our super wealthiest citizens feel they are entitled to pay, namely a much lower income tax rate and a lower tax rate on capital gains.”
O’Malley: “I believe capital gains, for the most part, should be taxed the same way we tax incomes from hard work, sweat & toil.” #DemDebate
— The National Memo (@NationalMemo) November 15, 2015
Healthcare
- Sanders said he supports a move to a single-payer system, which would essentially be “Medicare for all.” He also questioned the current Obamacare law by saying, “why do we remain the only (UNINTEL) country on earth that does not guarantee healthcare to all people as a right?”
- Clinton defended Obamacare during the debate but believes there is room for improvement on the law. “We ought to proudly support the Affordable Care Act, improve it and make it the model that we know it can be.”
We should build on the progress we’ve made on health care—not go back to square one. #DemDebate pic.twitter.com/24rXGZDReo
— Hillary Clinton (@HillaryClinton) November 15, 2015
Labor/economy
- Sanders supports a minimum wage increase to $15 an hour. During the debate, he said that “when we put money into the hands of working people they’re gonna go out for our goods. They’re gonna go out for our services. And they are gonna create jobs in doing that.”
- O’Malley also said he supports a $15 minimum wage, but as Governor of Maryland, he had stopped the increase at $10.10 in his own state.
- Clinton supports a $12 national federal minimum wage and said that she does not support the increase to $15 because “there are no international comparisons.”
Sanders calls for $15 an hour minimum wage, Clinton backs $12 an hour https://t.co/LMgdqqOQ4z #DemDebate pic.twitter.com/D6mSUUIUbg
— Bloomberg Business (@business) November 15, 2015
*Note: This news coverage does not equate to an endorsement of any candidate by NFIB.
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