Rubio admits GOP tax cut is a bust: ‘No evidence that money’s been poured back into the American worker’
Sen. Marco Rubio (R-FL) voted in favor of the Republican Party’s massive tax cut late last year — but now he says that there’s little evidence that handing out big breaks to corporations has significantly trickled down to American workers.
Talking with The Economist, Rubio criticizes his party for believing that large corporate tax cuts will inevitably produce windfalls for workers in the United States — and he says that so far, we haven’t seen very many corporations using their additional money to invest in their employees.
“There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers,” Rubio tells the publication. “In fact they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.”
Rubio also hinted that neither the GOP’s tax cut plan nor Trump’s protectionism will do much to help workers who are seeing more and more jobs disappear thanks to automation and technology.
“I have no problem with bringing back American car-manufacturing facilities, but, whether they’re American robots or Mexican robots, they’re going to be highly automated,” he explains. “My relatives are firefighters and nurses and teachers and electricians. These are people who are not all that excited about the new economy.”