Clark Offers Economic Plan in N.Y. Speech

Democratic presidential candidate Wesley Clark on Wednesday outlined an economic plan that he said would move $100 billion in tax cuts for the wealthy into “job creating funds.”

“My job creation plan is a clear alternative to the failed policies” of President Bush, the retired Army general told supporters and reporters in Manhattan. “Tax cuts for the rich have made us poor.”

Delivering a 20-minute policy speech at a park along the East River, Clark said he would take the money that Bush gave the wealthy in tax cuts and create three funds: for homeland security, business tax incentives and relief for state governments.

Clark, who declared his candidacy last week, said he would allocate $40 billion for improvement of homeland security and the creation of security-related jobs such as police, fire and the Coast Guard.

Another $40 billion would be earmarked for state governments struggling under federal tax cuts, and $20 billion would be used as tax incentives for businesses who hire new employees.

The plan, Clark said, “will not increase the deficit. It simply moves $100 billion from tax cuts for households making more than $200,000 a year and directs it into job-creating funds that will help middle income and working class families.”