WATCH: Hilarious Video Of Confused Sen. Tuberville Talking Taxes And Regulations

Sen. Tommy Tuberville

Sen. Tommy Tuberville

Photo by the United States Senate (Public domain)

Reprinted with permission from American Independent

Sen. Tommy Tuberville (R-AL) argued on Tuesday that taxes on corporations cannot be increased because "we can't put laws on private companies." Increasing the corporate tax rate to fund social services, Tuberville said, would also cause companies to leave the United States.

Tuberville made his comments during an appearance on Fox Business' Mornings with Maria to promote his Prohibiting TSP Investment in China Act, which would prohibit the federal Thrift Savings Plan pension fund from investing "in any security of an entity based in China or in a subsidiary that is owned or operated by a Chinese company," as he said in an opinion piece published by the Wall Street Journal on May 17.

While arguing that "something has to be done" about the investments, Tuberville said, "The one thing that can't be done is we can't raise the corporate income tax."

"We raise that, surely, we're going to lose them to other countries, not just China," he added.

The Biden administration has proposed an increase in corporate taxes to pay for infrastructure and jobs.

Tuberville said, "We can't tax them to death, because if we do they're going to leave."

"We can't put laws on private companies," he noted, before continuing to discuss his proposed law regulating investments in private companies.

From the May 18 edition of Fox Business' "Mornings with Maria":

TOMMY TUBERVILLE: Now private companies, something has to be done with that, but the one thing that can't be done is we can't raise the corporate income tax. We raise that, surely, we're going to lose them to other countries, not just China.
But we've got to take care of our own companies in the United States. We've got to keep their headquarters here, we can't use the inversion process, we've got to keep them here, we've got to make sure we take care of them, but we can't tax them to death, because if we do they're going to leave. And you can't blame them.
But we can't put laws on private companies. We just need to let them understand what they're doing, how it's going to affect them in the future. The bottom line today might not be the bottom line tomorrow in some of these corporations if we continue to invest in China.

Published with permission of The American Independent Foundation.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Trump Touts New Push To 'Repeal And Replace' Obamacare

The late Sen. John McCain gives thumbs down to Affordable Care Act repeal in July 2017

Photo by Library of Congress on Unsplash

Donald Trump is once again living in the past, trying to resurrect a Republican political debacle that even the Freedom Caucus has abandoned: Obamacare repeal. “The cost of Obamacare is out of control, plus, it’s not good Healthcare. I’m seriously looking at alternatives," he spewed on Truth Social on Saturday.

Keep reading...Show less
George Santos
Rep. George Santos
George Santos

Speaker of the House Mike Johnson on Monday afternoon said he has spoken toRep. George Santos, suggesting the embattled and indicted New York Republican might resign rather than face an impending expulsion vote he’s likely to lose. But over the holiday weekend, Santos suggested he was not going to go without a fight, as he appeared to take a page out of another embattled Republican’s book: former Rep. Madison Cawthorn (R-NC).

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}