Sen. Rubio: 'Tax Increases Will Not Solve Our $16 Trillion Debt'

Rubio: 'Tax Increases Will Not Solve Our $16 Trillion Debt'
By Daniel Halperon Sat, 8 Dec 2012

In this week's Republican address, Florida senator Marco Rubio suggests there are much bigger problems than marginal tax hikes, which President Obama strongly supports.

"Americans are struggling to find or keep middle class jobs for two reasons: because our economy is not creating enough of these jobs and because too many of our people don't have the education or skills required for the jobs that are being created," says Rubio. "A limited government can and must help solve these challenges.

"We must get the national debt under control. Tax increases will not solve our $16 trillion debt. Only economic growth and a reform of entitlement programs will help control the debt.

"We must reform our complicated, uncertain, job-killing tax code, by getting rid of unjustified loopholes. But our goal should be to generate new revenue by creating new taxpayers, not new taxes.

"We must follow a balanced approach to regulations. Regulations are needed, but they cost money to follow. The more expensive a regulation is, the less money a business has leftover to give raises or hire new people.

"We must not let American innovation in our energy industry go to waste. We have the potential for all kinds of new middle class jobs--from the fields and platforms where we drill, to the manufacturing plants that will return to the U.S. with the lower cost of energy. But we need government to encourage these job opportunities, not continue to block them.

"A return to sound monetary policy would also help by making the future value of a dollar more predictable.

"And we must get the cost of health insurance under control. You should be able to get a health care plan that fits your needs and your budget, from any company in America that's willing to sell it to you, and with the same tax benefit if you buy it yourself or have an employer buy it for you."