Darrell Issa: “The loyal opposition is entitled to their opinion but they're not entitled to their facts. Let's go through some facts.…”

“The loyal opposition is entitled to their opinion but they're not entitled to their facts. Let's go through some facts. The ranking member may not remember January 1. I know it was a long time ago--over a month. On January 1, with the President's blessing and insistence, we raised the taxes on the highest income producers and on family businesses by 5 percent on their ordinary income and by 5 percent on their capital gains. Capital gains would be a 33 percent increase, from 15 to 20 percent. These were not small increases. These were huge. I didn't vote for them. My ranking member did. I didn't vote for them because in fact the President deliberately said, Oh, no, we're not going to touch anything else in taxes, except to stick it to the rich. And he did. And this body did. That was a decision. But I hope my ranking member will remember that a month ago and a few days we had a huge tax increase--of the President's choosing. {time} 0950 It had been offered up by Republicans to work together to find loopholes, but that was rejected in favor of a stick-it-to-the-rich tax increase that he chose. There was $500 billion worth of revenue that would have been generated per year--$5 trillion over 10 years--if the President had been willing to go back to Bill Clinton-level taxes on all. He was not.…”