Not long ago, Marco Rubio was Wall Street’s last best hope to get something approximating what they thought a president should be into the White House. Sure, he had his flaws, but he was fresh-faced, made most of the right noises with his mouth, and most importantly, wasn’t any of the other fucking guys.

Unfortunately, the very things that made Rubio so appealing to the likes of Ken Griffin—his utter spinelessness—make him rather susceptible to ideas he doesn’t understand but which sound good like this ridiculous notion going around that maybe companies shouldn’t do buybacks anymore.

The plan, unveiled Tuesday, would eliminate the preferential tax treatment of share repurchases as a way to discourage that behavior. Instead of falling under the capital gains rate, they would be taxed as dividends, which are subject to a wide range of rates....

"Tax policy changes to end this preference might, on their own, increase investment by shifting shareholder appetite for capital return," the report states....

The measure aligns Rubio with Democrats who have argued that the benefits of the GOP's tax law have primarily benefited corporations rather than households. The message has become a central theme for the early presidential contenders for 2020 — and a narrative that Republicans have fiercely resisted.

GOP Sen Marco Rubio takes aim at stock buybacks, an issue under attack by Democrats [CNBC]

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