Alan Grayson: “Sometime between now and December 31 we will be discussing tax cuts--specifically, whether to extend the President Obama…”

“Sometime between now and December 31 we will be discussing tax cuts--specifically, whether to extend the President Obama tax cuts for the middle class or whether to extend the George W. Bush tax cuts for the rich--and I think it is important for people to understand exactly who this money will be received by. In the case of the Obama tax cuts, like the child tax credit, it will be received by needy parents who need the money in order to pay the mortgage, pay the rent, pay their car payments, their credit card payments. And in the case of the Bush tax cuts for the rich, it will be received by the rich. In fact, for the top 1 percent of income in this country, the high and mighty, the people who make an average of $1.4 million every single year, according to these charts I am about to show, you will see the following: Mr. Speaker, the Republican plan for tax cuts is to give each millionaire, each person who makes $1.4 million a year on the average, the top 1 percent of income in this country, the high and mighty, $83,347 a year in tax cuts. $83,347 a year, according to econometric modeling by Citizens for Tax Justice. Let's give some thought as to what the high and mighty might actually do with that money. Well, here is one possibility. They can buy an $83,000 Mercedes-Benz E-Class car not just once, but every single year for the next decade.…”