Bill Clinton: “I probably should be a little chagrined to admit this, but I am not absolutely sure what the precise provisions were of…”

“I probably should be a little chagrined to admit this, but I am not absolutely sure what the precise provisions were of their tax. Let me say this: I believe my obligation is to try to reach a balanced budget. There will be a tax cut in this balanced budget. I want the tax cut, as much as possible, directed toward people who are out there working for a living, dealing with the economic uncertainties in the marketplace, trying to raise their children and educate themselves and their children. That's what I believe. I also believe that we have provided quite a good environment for investors in this country. As I said, we have more self-made millionaires in the last 2 years than any comparable time period in American history, and the stock market is at 4,700. You know that I'm not philosophically opposed to all capital gains taxes because we had a capital gains tax in the '93 economic plan that cut the tax rate 50 percent on people that invested in new or small businesses for 5 years. And I was prepared to go with the Bumpers bill, which would have taken it down to zero, if the investments went longer. So, my answer to you, sir, is it depends on what form the capital gains tax is in in the final bill and how it works and will it really fulfill our objectives. What are our objectives? We want more jobs and higher incomes. If it's consistent with an overall package that gives more jobs and higher incomes, certainly I would consider that. I would be obliged to consider that. I cannot tell the Republican majority that they have to consider compromising with me and then we not considering trying to reach out to them. But the test should be, does it give you jobs and incomes? That's really what we need to do in this country. Mood of the Country”