Rubio Wants Tax Breaks
Who doesn’t want a tax break? If you live in America, chances are, no matter how much you make you are sick of paying over-the-top tax costs. Well, if Marco Rubio is elected president, there may be some good news in store for taxpayers.
As part of his economic plan, the Florida Senator aims to cut taxes for businesses and to increase child tax credits, all in an effort to create an American economy that he believes will be “even grander and richer in opportunity than ever before.”
In a speech to the Detroit Economic Club, Rubio discussed his plan in detail and how he plans to create a new American economy that is based on “pro-growth, pro-family tax reform, because currently, it’s neither.”
According to Rubio, what America needs is lower corporate income tax rates and offers to reduce the rate from 35% to 25%. As far as small businesses are concerned, Rubio seeks to allow all investments to be expensed as a means to reduce their tax burden.
But that’s not all. Rubio also aims to increase the child tax credit from $1,000 a year to $2,500 a year per child.
Rubio, whose parents are immigrants, not only understands the immigrant struggle and has used his past experiences as a model for his proposals, but also firmly believes that his plan will stimulate growth in the economy by 15%, growth in wages by 12.5%, and will also help to create nearly 2.7 million new, full-time jobs over the next 10 years.
“Four times in the last five elections, the American people have voted for change, and the change doesn’t happen. So people are upset. They’re angry,” said the Senator.
Still, not everyone is thrilled about Rubio’s ideas. Brandon Dillon, chair of the Michigan Democratic Party, believes that Rubio – and other Republicans for that matter – are just out to favor themselves.
“Rubio and other GOP candidates have a plan that favors the rich over the middle class,” stated Dillon.
Whether this is true or not is something the American people have to decide upon, especially if they are going to cast their votes in favor of Rubio.
The fact that there is a substantial need for tax reform is not something anyone can argue against. The nation is in a state of deficit and taxpayers continue to fork out their hard-earned dollars, without an equal share of benefits.
The good news is that there are plenty of tax attorneys available to help. Anyone who is struggling with tax-related issues can turn to a tax lawyer for assistance in determining their rights and their best options as far as managing taxes, paying tax debts, and other issues.