Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I want to correct, for the record, about the 2017 Republican tax scam. We have heard today, during this debate, that these tax cuts boosted our economy, and that simply isn't the case. I include in the Record an article from Forbes titled: ``The 2017 Tax Cuts Didn't Work, the Data Prove It.'' [From Forbes, May 30, 2019] The 2017 Tax Cuts Didn't Work, The Data Prove It (By Christian Weller) The independent, non-partisan Congressional Research Service just released a report showing that the 2017 tax cuts for the richest Americans and corporations did not work. This confirms what anybody who has been looking at the data already knew. Investment did not boom and workers will not see the promised bump in pay. Instead, the federal government incurred massive deficits while wealth inequality increased to its highest level in three decades. Republicans in Congress and President Trump touted the benefits of Tax Cuts and Jobs Act of 2017 as game changing. Showering the richest Americans and corporations even more money was supposed to lead to more business investments. These investments, the argument went, would translate into more productivity growth. Workers would then supposedly see an additional $4,000 per year in wages. And faster economic growth and higher wages would result in more tax revenue, thus paying mainly for itself. These were empty promises.…”