How Every Presidential Candidate Wants To Change The Economy

As the 2016 race for the Oval Office picks up steam, candidates are honing their individual policy stances. And with all of the major candidates having made their bids official after John Kasich's announcement last week, now is as good a time as any to examine their individual platforms.

Below is a brief summary of each candidate's positions with regard to the domestic economy and the financial sector. They are divided by party, then ordered alphabetically.

Democrats

Hillary Clinton

• Raise minimum wage
• Close corporate tax loopholes
• Raise capital gains tax on investments held for more than six years by Americans in top income tax bracket
• Cut middle class taxes

Martin O'Malley

• Reinstate Glass-Steagall
• Tax cuts and regulatory reforms to help job creators
• "Middle-out" economics instead of "trickle-down" economics

Bernie Sanders

• Break up large banks
• Impose fees for high-risk investments
• Introduce $15 minimum wage

Related Link: Clinton To Scrutinize Stock Buybacks

Republicans

Jeb Bush

• Oppose new tax increases
• Aim for 4 percent annual growth

Ben Carson

• "The free market works."
• Eliminate progressive tax system; make everyone pay the same rate.
• Support balanced budget amendment

Chris Christie

• The rich are doing fine; support middle-income workers
• Reform entitlement programs so that wealthy Americans pay more
• Set income tax ceiling at 28 percent

Ted Cruz

• Oppose raising minimum wage
• Oppose raising debt ceiling
• Fight hikes in inheritance and capital gains tax
• Reduce federal regulation of energy sector

Carly Florina

• Remake new budget from scratch each year
• Simplify tax code
• Cut federal payroll and base compensation on performance

Related Link: How Donald Trump Is Outpacing The GOP Pack

Lindsey Graham

• Defund the Affordable Care Act
• Increase revenue (potentially including tax hikes) to balance budget
• Cut spending to raise debt ceiling

Mike Huckabee

• Lower taxes for everyone and eliminate the IRS
• Achieve complete energy independence
• Support balanced budget amendment
• Repeal and replace the Affordable Care Act

Bobby Jindal

• Increase defense spending
• Reduce business and income taxes
• Shift healthcare toward free marketplace

John Kasich

• Support balanced budget amendment
• No income taxes on small businesses
• Support student debt relief
• Defend social safety net

Rand Paul

• More oversight of fed; less of community banks
• "America needs Adam Smith, not Robin Hood."
• Cut taxes and spending
• Trade with China improves economy

Rick Perry

• Regulate Wall Street, but ease off community banks
• Cap federal spending at 18 percent of GDP
• Cut entitlement programs
• Flat tax rate of 20 percent

Marco Rubio

• Eliminate deficit and require balanced budget
• Lower corporate tax rate
• End inheritance, dividends and capital gains taxes

Rick Santorum

• Publicize spending costs of spending amendments
• Eliminate taxes on manufacturers and slice corporate tax in half
• Raise minimum wage

Donald Trump

• Congress must cut spending
• Grow the economy to save Social Security and Medicare
• End corporate taxes and lower individual rates

Scott Walker

• Decrease corporate regulation to allow private sector to create jobs
• Reduce dependence on federal unemployment programs
• Promote expansion of domestic oil and gas industry

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