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Rubio: There's no evidence that the money's been massively poured back into the American worker
The Florida senator thinks that reheating Reaganomics is a dead end
“Government has an essential role to play in buffering this transition,” he says. “If we basically say everyone is on their own and the market’s going to take care of it, we will rip the country apart, because millions of good hardworking people lack the means to adapt.” Economic liberty, in this retelling, becomes something the government is required to guarantee. It is the freedom to enjoy “the dignity of work”, says Mr Rubio. “There needs to be a conservative movement that addresses these realities.”
His implication that Republicans have found no good answer to the problems Mr Trump described is irrefutable. The president’s scheme to revive the 1970s economy through protectionism and deregulation is unrealistic, as Mr Rubio—who these days dares not criticise Mr Trump—cannot help but acknowledge. “The future is going to happen,” he says. “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.” Most Republican congressmen meanwhile remain entranced by the limited-government shibboleths he has shaken off, as his fight over the tax bill revealed. Mr Rubio’s proposal, to double the tax credit to $2,000 per child and pay for it by making a small increase to the corporate rate his party wanted, was decried by some Republicans as socialism. The watered-down version they accepted, as the price of Mr Rubio’s support for the bill, excluded the poorest families. “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,” he says. “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.”
His implication that Republicans have found no good answer to the problems Mr Trump described is irrefutable. The president’s scheme to revive the 1970s economy through protectionism and deregulation is unrealistic, as Mr Rubio—who these days dares not criticise Mr Trump—cannot help but acknowledge. “The future is going to happen,” he says. “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.” Most Republican congressmen meanwhile remain entranced by the limited-government shibboleths he has shaken off, as his fight over the tax bill revealed. Mr Rubio’s proposal, to double the tax credit to $2,000 per child and pay for it by making a small increase to the corporate rate his party wanted, was decried by some Republicans as socialism. The watered-down version they accepted, as the price of Mr Rubio’s support for the bill, excluded the poorest families. “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,” he says. “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.”
https://www.economist.com/news/united-states/21741146-florida-senator-thinks-reheating-reaganomics-dead-end-marco-rubio-offers-his
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