On the recordMay 9, 1995
The big lesson is that, if you want to raise revenue, you have to got to cut taxes. You cannot raise revenue by raising taxes, and I think that is the big lesson we have learned over the last 4 years, and I think that is what this new majority is trying to implement in their tax cuts. Now there is two arguments when the Democrats accuse the Republicans of gutting Medicare to benefit the wealthiest Americans. There is two arguments here. One is that the basic argument is that, if you cut taxes, if you regulate people less, and you tax them less, they are going to be more productive, and I think that is one basic question. The other basic question on Medicare is the fact that on its own Medicare will go bankrupt in 5 to 7 years.
Source
govinfo.gov
