**Disclaimer: The information in this article does not necessarily represent or reflect the official position or personal views of Connect Insurance, its directors, agents or employees. This post is for informational purposes only and the aim is not to promote or deride any political party or perspective. We’ve made our best effort to ensure that the information is objective and accurate and have attempted to only report on information that is verifiable. Sources were found and can be reviewed on OnTheIssues.org. Comments are welcome but we ask that they be kept respectful. Thank you.
By this point, it shouldn’t be a surprise to hear of republican candidates favoring a cut to the corporate tax rates. All three of the GOP candidates we’ve covered have promoted reduced corporate tax rates, with Trump proposing a zero corporate tax rate. Ted Cruz and Marco Rubio follow suit, both promoting reduced corporate taxes at 15% and 25% each. Cruz has taken it one step further than even Trump; according to USA today, during the 2015 Conservative Political Action Conference, Cruz stated that as president he would abolish the IRS. This is by far the largest tax reform proposition we’ve seen from the candidates so far. Whether it’s possible or not or whether you agree or disagree with the idea, it would certainly have far reaching effects on businesses of all sizes.
Within the same event, Cruz also declared that he would, “repeal every blasted word of ObamaCare.” Rubio has also stated that he would defund, repeal and replace the Affordable Care Act passed by the Obama Administration. However, Cruz is not only opposed to a government run healthcare system, he aims to move the Nation away from an Employer based insurance system to a system more like the way we purchase auto insurance. As employers this would definitely change the benefits we offer our employers. Also, for the few Property and Casualty Agents that still sell some Health Products this would certainly change the way they are sold.
Minimum Wage and Entitlements
On the subject of Entitlements, Ted Cruz follows the established GOP position of opposing extended unemployment benefits and keeping the minimum wage where it is. Marco Rubio, on the other hand, has stated that unemployment and other programs, “need to be extended,” though stipulating that they, “need to be paid for.” Also, in his book, American Dreams, Marco Rubio proposes targeted wage subsidies in lieu of raising the minimum wage. This is certainly a unique position for a republican candidate. He does, however stand firm along party lines in terms of, ‘wage equality,’ voting against Bernie Sanders and Hillary Clinton against the Paycheck Fairness Act
As the Presidential race picks up steam, each candidate’s position will begin to take a more defined shape. For now this is what we think is realistically discernible from this Candidate’s history and statements. You’ll have to decide for yourself what this means for your Agency and whether or not it will affect your voting decision. Whatever the Political Climate, you can count on Connect Insurance to help you navigate the waters of Agency Ownership.