I am hearing a lot of stuff about how this budget balances the budget, but also about how it doesn't raise taxes. The gentleman from Georgia said, and I believe I wrote it down correctly, that it 'does not raise taxes one single penny.' Well, this budget either doesn't raise taxes, or it doesn't balance the budget. But it absolutely mathematically cannot do both. It will not and cannot mathematically do both. This budget includes every penny of tax increases, in the dollars, in the revenue dollars, every penny, which will tax my constituents and the people of California $3,331 each per taxpayer per year. Now, your numbers, the numbers of their budget, includes every bit of cutting the child care tax credit, eliminating the marriage penalty deduction, raising rates at every income bracket, raising the capital gains tax, raising the dividends tax, raising the death tax, raising all of those taxes. Every penny of that is included. That is how their budget balances. Without it, it doesn't balance.
John Campbell: “I am hearing a lot of stuff about how this budget balances the budget, but also about how it doesn't raise taxes. The…”
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Debating the implications of a proposed budget and its tax policies.
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