On the recordJuly 12, 2011
Thank you, Madam Speaker. I was just kind of curious about which one of those EPA regulations that my colleague was talking about. Perhaps it's the one that would prevent the emission of mercury into the air, or arsenic into the water. Maybe they want to poison the air and the water. Maybe that's what they're looking at. Or the SEC regulation that would bring to heel Wall Street and all of its excesses which just about terminated the economies of the world. Maybe those are the regulations they don't want to see. In any case, what I would really like to talk about here is the negotiations that are under way to deal with the looming crisis of the debt. The President of the United States has said, okay, let's not kick the can down the road any further, let's deal with this issue, and has proposed a $4 trillion solution. No sooner did he make that proposal than our Republican colleagues said, oh, no, we can't do that because that will include finally creating in America a fair Tax Code, one in which the superwealthy are actually going to get to pay for their share of the burden. For example, the hedge fund managers who pay a 15 percent rate on their earnings, their ordinary income, while the rest of us get to pay the full freight, whatever that might be, 35 percent for those at the top brackets. But, no, no, we can't deal with that problem, so we can't have a $4 trillion solution. The President also says, We're not going to kick the can down the road.…
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