Political Quotes

On the recordJuly 19, 2011
Mr. Courtney just pointed back to me. I was going to pass it to him. We just talked about Big Oil, the subsidies to Big Oil that are being protected by our Republican colleagues, making sure that Big Oil gets their money. That's not the only thing. They are fiercely fighting, fighting fiercely to maintain the Bush- era tax cuts for the superwealthy. We're talking about millionaires. So what does it mean for millionaires to hang on to that tax cut that occurred in 2003, I believe? For millionaires, that tax cut is worth $200,000 a year if you have an income of $1 million. Now, there are folks out there that have incomes of a billion. So you can kind of expand that, add five zeroes. You get close to what it might be for a billionaire, and there are billionaires out there. What does it mean for seniors? It means it's going to cost them some $6,000 a year in what will be their Medicare costs in the future.
Said by
John Garamendi
Democratic · California

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