Pete Stark: “I really meant to talk about celebrating the 35th anniversary of Apollo 11, but I can see that my distinguished…”

“I really meant to talk about celebrating the 35th anniversary of Apollo 11, but I can see that my distinguished colleague from California was there with me. I thought we were really talking about accounting, and we are talking about H.R. 3574, which is appropriate, because it is sheer lunacy. While our soldiers are fighting overseas, our children are crying out for better schools, 45 million people have no health insurance, we have set the goal today of 'Let's help the rich get richer.' Yes, sir, Mr. Speaker, let us give more money to the millionaires. Frankly speaking, do you know how high gas prices have gone? Do you know how much jet fuel costs? Do you know how much private jet pilots earn? We must help those people so they do not have to go from $4,000 to $5,000 to fly those little things. And that is what this bill today is doing. I am glad to see we are helping. Why? Right now, corporations can deduct stock options for tax purposes, ha-ha, and not pay the income tax, but they do not have to report those expenses to shareholders on their SEC financial statements. That is what I call sleight of hand. You cannot have it both ways. If you want to not deduct options, then do not take them off your income tax. It makes some sense.…”