Marco Rubio Explains Rich People Are Just Too Rich to Pay More Taxes

Categories: Politicks
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President Obama has come out strong in favor of raising taxes on the wealthiest Americans, but Marco Rubio thinks that's a fool's errand. In Rubio's mind, the rich just have too much money to waste on things that will get them out of paying taxes anyway.

From The Huffington Post:
"The billionaires and millionaires that are going to be impacted by higher rates, they can afford to hire the best lawyers, lobbyists and accountants in America to figure out how not to pay those higher rates," Rubio told National Journal's Major Garrett at The Atlantic Washington Ideas Forum. "The people that are going to get stuck by that bill are the small businesses, the partnerships, the S corporations, that cannot hire the lawyers to get them out of it."
Which is kind of true. Mitt Romney only had an effective 14.1 percent tax rate in 2012, and could have paid less. Warren Buffett, the third wealthiest person in the world, was paying a lower income rate than his secretary, and now supports a rule that would insist that people making over a million dollars a year should pay at least a minimum 30 percent tax rate.

Which is why President Obama proposed the so-called Buffett Rule.

Anyway, there's also nothing stopping successful small businesses from hiring decent lawyers and accountants too, is there?

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16 comments
philhazlitt
philhazlitt

This article is missing something vital.  The richest in the world, like Buffet, don't have an income which can be taxed at the rate of his secretary.  The Capital Gains Tax is currently 15%, but if you're income is based all through investment gains, then you avoid the 30% tax rate that I pay.So it's not as if the tax rate under an Expired Bush Tax Cuts will be any less regressive in theory. 

l.udwing
l.udwing

i Agreed it time to recall marco rubio Sheck Out This Video On Youtube has gotten 33,329 youtube views: Marco Rubio,No Somos Rubios Official Campaign Song.1080 HD http://youtu.be/XW4mvJyPZXA

Kristofer Jesus Castellar
Kristofer Jesus Castellar

If this is true then why can't I just shoot RPG's at Cars when they cut me off on my bicycle?

Ked Killjoy
Ked Killjoy

It kills me to see people like Christain say " to keep lazy people fed ". As if everyone is free loading of the government. Are the people that are born sick to the point to where they cant work free loading off the government ? How about a parent with a ill child that needs 24 hour care, preventing one of the parents from working. Or the elderly that only get $100 a month from social security. Are they free loading off the government ? No. Just because there is a hand full of people that are dont forget about those that arent. Romney lost because he forgot about those that arent free loading off the government and really need help.

Ked Killjoy
Ked Killjoy

If the rich will spend more money to keep them from paying more taxes then that just shows that the rich can afford to pay higher taxes. They just refuse to. I hate to see rich people with islands and 10 bed room houses and they dont pay taxes or they go bankrupt. How many times have we witnessed that ?

drakemallard
drakemallard topcommenter

it time to recall marco rubio

 

 

 

I thought becoming rich and famous would make me happy," Boy was I right. Thanks you guys ...

drakemallard
drakemallard topcommenter

We could solve a LOT of problems in this country if we just required that politicians live by the same rules as the rest of us. Put THEM in 401-K's and Social Security for their retirement; put THEM in Medicare; have THEM follow the same "truth in advertising" laws businesses have to follow, let THEM pay for their own vacations instead of the taxpayers sending them on junkets; have THEM obey the law on discriminatory employment practices,Make Politicians Take a Pay Cut Before Cutting Money from Education and Social Services! Hey they should   cut their own benefits and services. no more lifetime benefits for 4 years of service! They should NOT be getting lifetime health coverage when they have the money to pay on their own! While too many find this as some sort of virtuous sign of frugality, in fact this is a form of theft from the taxpayer.  We, the People, provide Members of Congress salaries that -- while far from those of the K Street LObyist crowd -- put them at three times the average American wage, provide them free gym access (where Paul Ryan ever so loves to work on on other peoples' dimes), give them far more generous health insurance than the vast majority of their constituents have, and provide what all but the most-pampered CEO would call lavish retirement (without counting the $s from revolving door (lack of ethics) lobbying that enriches so many on leaving office)

drakemallard
drakemallard topcommenter

the real 47% too dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it government Salaries, Healthcare, & Retirement Benefits: “The average representative makes $174K a year, while the average American household makes $50K. In 2009, 261 of the 535 members of Congress were millionaires. In short, our federal lawmakers are nine times richer than the average American. They vote on their own raises, healthcare, and pension plans, and we are left with the bill.Members of Congress sleeping in the office are thus playing on the edge to eek out even more compensation from the taxpayer. They convert use of a space -- that we have paid for -- intended for work into living space as they avoid rent

Kimberly Martin Arauz
Kimberly Martin Arauz

Disturbing thoughts that come from minds similar to those in power of 3rd world countries... Selfish people with close minds. Let the poor starve while we obsess over more than we can handle.

Christian Fabian Robotti
Christian Fabian Robotti

I agree with him. Why should anyone celebrate mediocrity. Why invest in anything that keeps lazy people fed.

FlashFriedBananas
FlashFriedBananas

The same Marco Rubio? That Talks Big but Fails to Deliver?

 

 

 

when will Rubio start working for jobs in Florida ??? he should stop campaigning and vacationing and self promoting his book on our Florida time and get to work !!!

 

 

cuban medicare fraud and marco rubio is silent about  South Florida is known as the capital of Medicare fraud, Feds in Miami: Millions stolen from Medicare wound up in Cuban banking system In an unprecedented case, federal prosecutors have charged a Miami man with engaging in a massive money laundering scheme that moved millions stolen from the federal Medicare program into Cuban banks

 

 

. I want to protect Medicare. I want to save it," Rubio told CNN. "It's going bankrupt. And so the only way to save it is to come up with a solution that allows our parents and our grandparents to see absolutely no changes to their Medicare," Rubio added.

 

olegga
olegga

Over 90% of small businesses have actual income of less than the $250K - if anything this will give them more incentives to hire more folks so that they fall below that treshhold..

This is how conservatives think.  The impact on small business would be minimal, even on the sole and S-corps.

Anthonyvop1
Anthonyvop1 topcommenter

Of course.   Waste what little profits a small business has to pay for lawyers and accountants to keep the government from fleecing them.

 

Seriously people,  That is how Liberals Think!

 

 

Eddie Suarez
Eddie Suarez

if that's the logic then why bother with traffic citations if all that means is having to get a traffic lawyer to get us out of paying unless you can't afford a lawyer? Or legalize marijuana because that just means having to pay a lawyer to get you off unless you can't afford... et al... ALSO, if these Republicans are so super duper patriotic pro america then why do they spend so much dough trying to cheat her out of paying?

drakemallard
drakemallard topcommenter

 @FlashFriedBananas Lawmakers have too many days off. Members of Congress only work half a year. At the height of the worst recession and soon to be depression in 75 years, how many weeks of vacation did our Congress grant themselves this year? 23 1/2 weeks of vacation. But they don't call it vacation. They call it non-legislative periods.”

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