hard-working American families have not seen significant net tax relief since Ronald Reagan's first year in office as President. That was 16 years ago, in 1981. Since then, their tax burden has gone in just one direction--up. Higher payroll taxes, higher taxes on gasoline and Social Security, higher taxes on capital gains and air travel. If you manage to save something for your child's education, the earnings are even taxed. It is no wonder, then, that the typical American family feels overwhelmed: it now pays more in taxes than it does for food, clothing, and shelter combined. That is wrong, and it has got to change. It is about to change. Mr. President, there has really been a sea of change in Washington's approach to taxing in recent years. Remember that it was not so long ago, in 1993 to be exact, that President Clinton pushed through the largest tax increase in the Nation's history. Everyone in the country felt the bite of the Clinton gas-tax increase. Retirees even saw their Social Security benefits taxed more. The debate back then was not whether to raise taxes, but how much to raise them. Two years ago, after Republicans gained control of both Houses of Congress, the debate changed dramatically. The question no longer was whether to raise taxes, or even whether to cut taxes. The question was how much to cut them.
On the recordJune 27, 1997
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govinfo.govEditor's note · Context
Discussing tax relief for American families and changes in tax policy since the 1980s.
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