Posted on 12/30/2017 6:12:11 AM PST by upbeat5
Sen. Marco Rubio says the GOP "probably went too far" in slashing the tax burden on corporations. The Florida Republican told the News-Press of Fort Myers that corporations will largely use their major tax cut to buy back shares or increase dividends to shareholders which "isn't going to create dramatic economic growth." "If I were king for a day, this tax bill would have looked different. I thought we probably went too far on (helping) corporations," Rubio told the newspaper in the interview published Friday. "By and large, you're going to see a lot of these multinationals buy back shares to drive up the price. Some of them will be forced, because they're sitting on historic levels of cash, to pay out dividends to shareholders."
"That isn't going to create dramatic economic growth. (But) there's a lot of things in the bill that I have supported for a long time (such as) doubling the Child Tax Credit. And it is better significantly better than the current code," he continued. The tax plan that President Donald Trump signed into law last week permanently chops the corporate tax to 21 percent from 35 percent. Republicans say the change which starts Monday will drive domestic investment, boost wages and fuel economic growth over time.
(Excerpt) Read more at cnbc.com ...
Hi Jay. Please see my previous respond regarding bonuses. Also, I think that Rubio is correct in his assertion but for the wrong reason. What he really laments is that he wasnt able to give away even more money in the form of EITC payments as cash welfare.
How is it that you got a tax increase? Do you own a lot of property in a high tax state? I am not arguing, just asking.
Has little Marco ever held a job outside of gov’t
Gang of 8 Pansy and RINO
I’m sure Jeb is devastated too.
“If it is stock buy backs (which many firms have indicated they will do now that the law has passed), that is not the same as building new factories or increasing stagnant wages.”
Do you have an 401K or IRA? I do and mine has gone nuts in the last year, with the last two weeks accounting for a very large gain. I’m part of the middle class and this has helped me tremendously.
A public corporations first responsibility is to its shareholders. Which means, schools, municipalities and other investors have a financial interest. Once they are done with that, then they will grow the business, especially when their taxes have just been lowered significantly. And again, those savings are now passed on to consumers.
His hopes to be POTUS will be dashed.
“.....Marco Rubio doesn’t have a scrotum.”
______________________________________________
But he fondles them at foam parties.
He is such a tool. One econ-blog or Conservative site noted when he was going for a higher tax rate he was doing the bidding of the EU because they are scared ****less that they won't be competitive.
So how much money is he getting from their lobbying arm?
******************
Maybe he should move to England.
And the worst Robert (4th) Reich
And there you have it. Marco Rubio wants to be king.
This is Rush Limbaugh’s “full-throated conservative.”
Sorry, trick question. He never was. He just pretended to be during his Senate election campaign.
every now and then rubio does or says something that absolutely ruins his chances for further office and shows who he really is
Yes, I am in a high tax state. I have taken some steps to mitigate the damage, such as pre-paying some 2018 property taxes, and I will do some other things.
“”By and large, you’re going to see a lot of these multinationals buy back shares to drive up the price. Some of them will be forced, because they’re sitting on historic levels of cash, to pay out dividends to shareholders.”
exactly. who do you think crafted this tax bill? goldman sachs and their ilk.
I haven’t read the article, but the headline proves little Marco has never owned and worked a company, nor has he had to meet a payroll.
Rubio is an empty suit, who sprouts memorized lines, behaved like a juvenile jerk during the debates, and feels the Senate sessions are not worth attending.
“That’s because the tax law eliminates or caps most of our deductions”
exactly! and makes any cuts for individuals temporary; reduces the not quite doubled standard deduction by eliminating the $4050 personal exemption and the $1250 exemption for those over 65; and adjusts the tax rate by the chained CPI; thus, further deflating the regular CPI inflation adjustment for your tax rate categories, and eliminates the deduction for those who use a tax preparer. it’s also interesting if you look at the tax rate category reductions, and see whom got the biggest cuts.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.