, bailouts and guarantees , funded by taxpayers . The top 50 US firms spent $ 2.6bn between 2008 and 2014 on lobbying the US government , Oxfam said . “ For every $ 1 spent on lobbying , these 50 companies collectively received $ 130 in tax breaks and more than $ 4,000 in federal loans , loan guarantees and bailouts , ” said Oxfam .
Even if someone does agree to work for him , does anyone , after this campaign , imagine Trump will be constrained by reasoned advice based on facts and logic ? “ Taxes . ” Trump ’s contribution to the tax debate has been a plan ( even in its revised state ) that would add trillions to the debt , deliver huge tax cuts for the rich and keep a big benefit for commercial real estate moguls like him . ( He wo n’t be “ ending the interest deductibility on new loanstransaction.transferownership.borrowlend[ that ] would devastate the value of commercial real estate — which is a major business for Trump , ” and therefore will be increasing the revenue loss by another $ 1.2 trillion . ) Does anyone think anything like that is remotely viable ? Even if it were , Democrats may have the Senate majority , or at the very least enough to filibuster such an absurd plan .
[ 12 ] This is not for a lack of desire — more than half of America ’s millennials say they want to start a business — but barriers like student debt and a lack of access to credit are holding young people back . [ 13 ] Hillary is committed to breaking down barriers and leveling the playing field for entrepreneurs and innovators who are launching their own start - ups . Hillary will allow entrepreneurs to put their federal student loanstransaction.transferownership.borrowlendinto a special status while they get their new ventures off the ground . For millions of young Americans , this would mean deferment from having to make any payments on their student loans for up to three years — zero interest and zero principal — as they work through the critical start - up phase of new enterprises . Hillary will explore a similar deferment incentive not just to founders of enterprises , but to early joiners – such as the first 10 or 20 employees .
Last May , Trump revealed that he took on debt with no intention of paying it all back , which strikes me as fraud . “ I ’ve borrowed knowing you can pay back with discounts , ” he told CNBC in May , boasting “ I ’ve done well with debt . ” Back then Trump threatened endless litigation unless 70 banks he owed money gave him millions more in new loanstransaction.transferownership.borrowlendat low interest rates and provided him with $ 5.4 million a year for personal spending , the equivalent of $ 10 million in today ’s money . Back then , one billionaire told The New York Times he did n’t know how to spend that much on himself and his family . What made the litigation threat credible was Trump ’s refusal to pay more than 150 illegal immigrants who demolished the Bonwit Teller department store to make way for Trump Tower .
Hillary will also invest $ 20 billion in youth jobs and pathways for individuals from disadvantaged communities — through support for models like linked learning , P - Tech , apprenticeships , and Career Academies . Increase Access to Capital for Growth - Oriented Small Businesses and Start - Ups , with a Focus on Minority , Women , and Young Entrepreneurs : Technological innovation and job creation is often driven by smaller companies and start - ups — today , small businesses create two out of every three new jobs . [ 9 ] But the percentage of bank loanstransaction.transferownership.borrowlendthat have gone to small businesses has declined by one - third since 2000 ; venture capital funding is highly clustered — with 70 % of all VC funding going to three states , 40 % going to one region[10 ] , 7 % going to firms with women founders , and a mere 1 % directed to African - American women founders . [ 11 ] The result is that too few Americans are benefiting from the opportunity to access capital and put their job - creating ideas to the test . Hillary will support entrepreneurship ecosystems in all parts of the country , with the federal government playing its part to increase access to capital for SMEs and start - ups , especially for minority , women and young entrepreneurs .
The greatest single political problem in the Western world is sclerosis of the imagination . In Congress , on the hustings , and in the media , the United States is reduced to two camps . One side is calling for swingeing strokes of a spending scythe on the government with the threat of a shutdown behind it , and the other side is offering more redistributive taxing and , through the quaint and incompletely recycled ex - communist Bernie Sanders , a trillion - dollar bribe in the forgiveness of all student loanstransaction.transferownership.borrowlend. In the media , we have shrieking heads with very few people saying anything intelligible . In Canada , there are cries of alarm over the deficit , though it is hardly a surprise and seems to top out at less than a third , as share of gross domestic product , than where the U.S. sat for seven years ( 1.5 per cent against five to seven per cent ) .
“ I mean I have n’t heard that . But I have nothing to do with Russia , nothing to do , I never met Putin , I have nothing to do with Russia whatsoever . ” Trump went on to say he has no outstanding loanstransaction.transferownership.borrowlendwith Russian banks or Russian investors . “ Absolutely not , ” he said . “ It ’s ridiculous . ”
He added Democrats may say they are afraid or do not like Trump but deep down they have to love him . “ They love him because next to Trump they look like heroes , but next to us , they look like the cowards they are . ” A student from DePaul University and organizer with the International Socialist Organization , Sam Piper , addressed the crisis facing students saddled with tens of thousands of dollars of debt from student loanstransaction.transferownership.borrowlend. “ Jill Stein is the only candidate in this election , who is willing to abolish student debt and make universities tuition - free . ” Stein ’s campaign maintains there are 43 million young and “ not - so - young people ” out there “ locked into predatory student loans . ” They believe they should be bailed out like Wall Street was bailed out .
Nonetheless , the suggestion that outrage at the U.S. banking system for its role in the financial crisis was based in “ misunderstanding ” and “ politicizing ” is risible . Here ’s what one U.S. bank was up to seven years before Clinton ’s speech : In April 2006 , Goldman Sachs provided investors with a bullish report on Countrywide ’s high - quality mortgage loans — loanstransaction.transferownership.borrowlendthe bank had helpfully packaged into AAA - rated mortgage - backed securities , thereby offering those lucky clients a low - risk way of profiting from America ’s housing boom . When the bank ’s head of “ due diligence ” saw the report , he typed a short email to his colleagues : “ If only they knew … ” You need both a public and a private position .
A massive leak of documents shines new light on the fabulous fortunes of the Russian president ’s inner circle A network of secret offshore deals and vast loanstransaction.transferownership.borrowlendworth $ 2bn has laid a trail to Russia ’s president , Vladimir Putin . An unprecedented leak of documents shows how this money has made members of Putin ’s close circle fabulously wealthy . Though the president ’s name does not appear in any of the records , the data reveals a pattern – his friends have earned millions from deals that seemingly could not have been secured without his patronage .
That does not work anymore . ” Generally , banks seeking loan payments are not in the business of thrashing their customers physically . The worst abuses are rooted in the so - called microfinance industry , which extends small loanstransaction.transferownership.borrowlendto tide borrowers over until their next paycheck . Those loans average $ 125 , according to United Credit Bureau statistics . The interest rate is usually 2 percent a day , or 730 percent a year .
Generally , banks seeking loan payments are not in the business of thrashing their customers physically . The worst abuses are rooted in the so - called microfinance industry , which extends small loans to tide borrowers over until their next paycheck . Those loanstransaction.transferownership.borrowlendaverage $ 125 , according to United Credit Bureau statistics . The interest rate is usually 2 percent a day , or 730 percent a year . That adds up fast .
Cruz has faced criticism for his ties to Goldman Sachs . His wife is an investment manager at the firm . Reports emerged last month that Cruz did not disclose loanstransaction.transferownership.borrowlendfrom the financial firm during his 2012 Senate campaign . He has dismissed those charges , saying it was a clerical error that has been corrected .
" Despite having the most powerful economy on earth , the United States too often reaches for the gun instead of the purse in its international conduct , " they write . China does n't just use punitive measures to get what it wants . It routinely gives loanstransaction.transferownership.borrowlendand aid to countries like Venezuela that are at odds with the United States . Beijing also wields its massive sovereign wealth fund to invest -- tactically -- in parts of the world where it also wants to build political ties . The Chinese even engage in " soccer stadium diplomacy " where they fund and construct brand new stadiums , mostly in African countries with natural resources that China wants .