Newsmax TV & Webwww.newsmax.comFREE - In Google Play
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
Tags: Editor's Pick | rubio | america | obamacare

Rubio To Newsmax: Obama’s New Tax Policy Will Cost Jobs

By    |   Tuesday, 10 July 2012 04:37 PM

Sen. Marco Rubio tells Newsmax that President Obama’s refusal to extend the Bush-era tax cuts for Americans earning more than $250,000 a year is “all about class warfare” and is designed to placate the “left-wing extremists” in his party.

The Florida Republican also states that raising taxes on the wealthiest Americans won’t put a dent in the deficit and will “cost a bunch of jobs.”

Rubio outlines what the government can do to encourage economic growth that has been lagging during the Obama administration.

Rubio is the author of the new book “An American Son: A Memoir.” He was elected in 2010 in a three-way race that included then-Gov. Charlie Crist. Rubio is considered a key figure in the tea party movement and has been talked about as a possible running mate for Mitt Romney.

In an exclusive interview with Newsmax.TV, Rubio was asked if Obama’s vow to veto any legislation calling for an end to tax cuts for those earning more than $250,000 actually is a huge tax hike on wealthier Americans.

“That’s exactly what it is,” Rubio declares. “First of all, I reject class warfare and the constant effort of this White House to divide one group of Americans against another.

“The second thing I would say is what problem does this solve? The revenue that’s generated by this tax increase on what he calls the wealthiest Americans doesn’t even make a dent on the debt. On the other hand, it’s going to cost a bunch of jobs because if you’re a small dry cleaner somewhere, your business makes [money], not you personally, and now your taxes are going to go up next year.

"You’re probably going to lay somebody off, maybe even close the store or maybe not hire someone you were planning to hire. How is that good for our economy?"

Rubio accuses Obama of waging class warfare: “The point is, this is all about class warfare. This is about the president trying to convince people in this country that their lives would be better if only he had the power to take stuff away from another group of Americans who he says are not paying their fair share.

“This is ridiculous. This is the kind of policies that this president is pursuing because he cannot run on his record. The country is not better off than it was four years ago, so he can’t run on his record.”

Story continues.

Rubio points out that Obama’s intention to raise taxes on some Americans directly contradicts what he said just a year and a half ago, when he “thought it was a bad idea for taxes to go up on anybody."

"He himself said when the economy’s not doing well is not the time to raise taxes on anybody. Those were his words.

“Well, the economy’s just as bad today, if not worse. So why is it a good idea now? And the answer is because the liberal base of his party, the left-wing extremists in his party, are demanding that taxes be raised on somebody.

Editor’s Note:
Marco Rubio’s "An American Son," is a NY Times Best-Seller — Get it FREE With Special Offer!

“At the end of the day there’s a fundamental difference of opinion between the president and his party and Republicans and probably the rest of America. He believes the economy grows because of government. We believe the economy grows because of the American people and the work they do in the private sector as small businessmen and women. Someone’s going to have to decide which road we’re going to go on, and that’s what elections are about, especially the one in November.”

Rubio comments on the so-called “fiscal cliff” the nation is facing at the end of 2012.

“By the end of the year, taxes are going to go up on everybody if something doesn’t get worked out on this. In addition to that, you’re going to see all the taxes from Obamacare kick in, and you’re going to see the defense [cuts] kick in, which means people are going to start getting laid off right around election time if they work in the defense industry.

“So all these things are going to come to fruition, and on top of that, the U.S. hits the debt ceiling again. It will be back again probably before the election. All this happening at one time, at a time when our economy’s not growing, where millions of Americans are unemployed, where other economies around the world are not growing as well, where Europe is in chaos.

“This is all a big mess, and look at the lack of leadership from the White House on this issue. They’re just looking for political talking points they can use in their next television commercial.”

Rubio was asked what can be done to create economic growth and jobs and cut the nation’s long-term deficit.

“No 1 is to understand how growth is created and that it’s the private sector that does it,” he tells Newsmax.

“The growth is created when someone goes out and starts a new business or grows their existing business. What government can do to help people do that is have a predictable and affordable tax code, a predictable and affordable regulatory code, a concise energy policy that takes into account that we are the most energy-rich country in the world.

“We can do these sorts of things. I think the American people will take care of the rest. The American people aren’t out of good ideas. They haven’t forgotten how to start businesses or create jobs. But the federal government is making it harder on them.”

In May, Rubio joined with Sen. Mark Warner, a Virginia Democrat, to introduce the Startup Act 2.0 legislation to help new businesses add to their payrolls.

“How it works is pretty straight forward,” Rubio explains.

“What it does is create all sorts of tax treatments for startup businesses. Almost all job creation happens through startup businesses, new businesses that are created.

“But these companies struggle to comply, especially during the early years, with many of the regulations and requirements that the IRS imposes on them, because if you’re a startup you can’t afford to hire all the lawyers and accountants that it takes to comply.

“So this legislation would create a period of time where these companies are able to adjust to all these different regulations.

“It’s common sense, and it’s stuff that Republicans and Democrats agree on and yet we can’t even get a vote on it in the Senate. Instead we have to waste time on some of these stunts that happen on the floor of the Senate, stuff that has no chance of passing and is only being pursued for the purposes of creating talking points for the next Obama television commercial.

“If you want to see an example that’s wrong here in Washington, the lack of urgency here in Washington, look at the Startup Act.”

President Obama on Monday tried to portray Mitt Romney as “out of touch” with the average American.

“I think that’s absolutely unfair. The one who’s out of touch here is the president,” Rubio says.

“He’s completely out of touch with how the free-enterprise system works and how it’s helped America over the last 200 years.

“At the end of the day, what we’re talking about here is how do you grow the economy?

“Mitt Romney understands that what it takes to grow the economy is for someone to take the money they’ve made and reinvest it to try to make more money by opening a new business that hires people, who can then make money off that and raise their families.

“Mitt Romney understands that. President Obama apparently believes that what it takes to grow the economy is government and politicians. He thinks presidents and the U.S. Senate create jobs. That’s just not true.”

In his Newsmax interview, Rubio also explains why Obamacare will create an “IRS problem” for millions of Americans, and talks about his prospects for the 2012 vice presidential nomination.

See other excerpts from the Newsmax interview with Marco Rubio:

Editor’s Note:
Marco Rubio’s "An American Son," is a NY Times Best-Seller — Get it FREE With Special Offer!

© 2021 Newsmax. All rights reserved.

Tuesday, 10 July 2012 04:37 PM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
© Newsmax Media, Inc.
All Rights Reserved
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App