Here's how the top 7 Democratic candidates want to transform the US economy

Here's how the top 7 Democratic candidates want to transform the US economy

Following is a transcript of the video.

How the top Democratic candidates would transform the US economy

1. Joe Biden

Biden often talks about economic inequality. He wants to close the wealth gap by reversing Trump's tax cuts for the wealthy and give everyone an equal chance to access good healthcare, education, and housing.

2. Sen. Elizabeth Warren

After announcing her 2020 candidacy, Warren proposed the "Ultra-Millionaire Tax." She says this plan could generate $2.75 trillion in revenue in 10 years. This money would go towards universal childcare, student loan debt relief, and down payments on a Green New Deal.


3. Sen. Bernie Sanders

Sanders wants to make public college free and eliminate student debt with the "College for All Act." To pay for this, he proposes applying a new tax on Wall Street transactions. Sanders says this tax would bring in $2.4 trillion in 10 years.

4. Sen. Kamala Harris

Harris wants to implement a tax credit for the middle class. Her policy would reverse the Trump tax cut that benefitted big corporations and the top 1%. The new tax revenues would go toward a tax credit of up to $6,000 for working families.

5. Mayor Pete Buttigieg

Buttigieg believes there should be a big investment in US infrastructure. He also wants to reduce the cost of college and make it debt-free for low-income families. Buttigieg wants to accomplish this through a state-federal partnership.


6. Beto O'Rourke

O'Rourke proposed a detailed economic plan to combat climate change. His plan calls for $250 billion in research and development and $1 trillion in climate change tax incentives.

7. Sen. Cory Booker

Booker's signature economic policy is called "baby bonds." It's a government-run savings program for children aimed to close the wealth-gap. Children would receive up to an additional $2,000 each year, depending on family income. Booker believes "baby bonds" will give every American a shot at economic opportunity.